Taking bets for $30/Troy ounce silver. When?

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OldGarandDad

On the bottom shelf
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For the forum bragging rights. Place your bets for $30/Troy ounce silver.

We'll have two categories:
  • Intra-day price breach
  • Market close price.


My bets are:

Intra-day: June 29th, 2023
Market close: August 31st, 2023

With my prognostication record, you all now know the two dates it won't happen
 
Intra-day: June 30th, 2023
Market close: September 1st, 2023

This is scored like The Price is Right bids, right?
 
I gave up these guessing games years ago.....I don't have a frigging clue...have been adding physical under 25$ .....I suspect if there is a recession silver will drop till they try to paper their way out of it.
 
rblong2us said:
I need it to hit around $37 to break even after a 10 year wait
so 30 can’t come soon enough
As an eternal optimist, I will call it for first week in July .
Click to expand...
i feel for you being in at $37avg sir ......... you have had a long wait ......no telling what will happen if it can break $30 and hold but the sky is the limit above $30
 
Ttazzman said:
spot

30$ is a well established silver market ceiling....and becomes a floor when you get established over it .....
Click to expand...
Until it hits $50.

Big round numbers tend to make a lotta folks want to cash in. Especially those who bought in during the last run-up in price 13 years ago.
 
Joe King said:
Until it hits $50.

Big round numbers tend to make a lotta folks want to cash in. Especially those who bought in during the last run-up in price 13 years ago.
Click to expand...
there are a lot of people in from that last big run up around 30......in my opinion i think that is why the Reddit run up a while back stalled right at 30 ie hit a wall of sellers....to me closing a week solidly above 30 is extremely bullish
 
Goldhedge said:
You talking spot, or market price?
Click to expand...


Precisely. Where can one get $30 silver today?


The enormous disconnect between spot price and physical price, which did not exist 12 years ago, illustrates the true value of silver today.
 
CiscoKid said:
Precisely. Where can one get $30 silver today?


The enormous disconnect between spot price and physical price, which did not exist 12 years ago, illustrates the true value of silver today.
Click to expand...

it certainly represents the true collector/investor retail physical street value...........but physical bar and coin demand is ~20% of silver demand and it would be short sighted to think that the 80% other demand is paying huge premiums over spot......premiums over spot are just a pure reflection of the replacement costs of the for sale manufactured products be it from the "new or used" markets........the ultimate price of silver is in its melt value IE Spot whether we like it or not and whether its manipulated or not.......silver demand has exceeded supply the last couple of years so stockpile supplies are being reduced and at some point the rubber will meet the road.

relevent to this thread i think one of the mitigating factors in the large retail premiums on coins n bars is due to the huge amounts of silver being held by strong hands that had a cost above 30$ a oz in the last big runup....rblong2us sitting at $37 is a perfect example of that in play

its my opinion the run up the last few days is a fear knee jerk reaction to news banking etc the last few days and while its nice it probably doesnt have legs ....real legs will come when fed changes directions or $ crashes due to losing its reserve currency status (which could be happening now).....

these are my personal opinions i dont pretend to be able to prognosticate and time events i just try to keep up with the fundamentals and trends
 
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Good news, I might still be 27.5% down on my silver today but break even, if £/$ dont get too far out of kilter, is around $33 per oz .
My real shiny is up 110% and represents 90% of my metals portfolio so I can afford to take a view.

For the last 8 years I swore I would convert the silver to bitcoin if I hit break even but perhaps I will stay in on the basis its bound to come right one day ........
 

its like real estate .....just depends on how long you have to hold it ......im lucky to be in on the cheap side
 
Ttazzman said:
its like real estate .....just depends on how long you have to hold it ......im lucky to be in on the cheap side
Click to expand...
I constantly kick myself for not buying more when silver was around $3.30/ounce.

My coin club had a buy/sell table at each meeting back then. Older members were just looking to get rid of silver rounds and bars. I picked up numerous art bars under $5. I should have bought more.
 
Joe King said:
FYI, the red can be removed.
Click to expand...
I know it’s off topic but one story that I found very entertaining at the time, was the story of Thomas ‘the slab’ Murphy who owned a farm on the border between the north and the south of Ireland .

Thomas 'Slab' Murphy takes a £10 million hit - busted Armagh plants 'linked to IRA leader's gang'

IRA godfather Thomas ‘Slab’ Murphy was raking in more than £10 million a year from four diesel laundering plants in south Armagh that were busted by customs officials.
www.belfasttelegraph.co.uk

long story short -
the north use red dye in the untaxed diesel and the south use green .
mix them together and the dyes cancel each other out .
 
Spot prices had their 3rd day in a row of a very slight consoidation. I have a feeling tomorrow it resumes a Very strong uptrend. The major mint rounds Are becoming Unobtanium. Maples were pretty decent in price like 3 weeks ago and then the mint backed out on their promises.

American Eagles at freaking $46.12 if you buy 100 from Apmex (a freaking MS69 like premium of 84%)
But Maples are now $34.83 for 100 minimum and rising QUICKLY. (premium of 39%)
 

I agree, Intra- on April 21
Market close- on April 28
 
Spot is giving it a go today but they are Really fighting it.



CPI might give them an excuse tomorrow to hammer it back down. BUT stocks will get hit 2x as bad if that happens.
 
Silver busted a lot of the predictions in this thread. Crystal ball prognostications are largely a fools errand. We all know it will happen. It's just a matter of when.
 
CiscoKid said:
Precisely. Where can one get $30 silver today?


The enormous disconnect between spot price and physical price, which did not exist 12 years ago, illustrates the true value of silver today.
Click to expand...
There it is.

When spot price and physical price are locked together, the BS factor is minimized. Having computers make buy/sell decisions every few seconds with the results being used as gospel... that is just playing the House Rules Game.

Buy. Hold. Buy some more. Hold. The Federal Reserve Monopoly Money is beginning to be seen for exactly what it is.

And each time this must be stated:

You do NOT want silver at $300. Becuz it will be at $3000 that day by nightfall.

Don't wish to go the Pengoe, Franc, Bolivars, dinars, etc. route in order to look at how many USD you have made.

Chant this to yourself:

"Every day there are enough wheels left on the train for it to keep clunking along is a good day."
 
Silver has started to show some signs of life. Does it hit 30 before the end of the year?
 
From the Future... here is how it will go:

The silver gold ratio hangs essentially the same, running from 70-90 until they both break. When the dollar breaks, as we all know it will, then the silver/gold ratio will be no higher than 30:1 in any medium of exchange.
 
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