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Gold & Silver Prices

victorj19victorj19 Member Posts: 3,642 ✭✭✭
in General Discussion
Plummeting fast.  With the stock market also plummeting, my convoluted logic says gold and silver should be rising.  After all, we've been told like forever that gold and silver are the hedge currencies for the ages.  I just spent money on the house, lost a lot in the market and don't have any spare cash.
Comments please.
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Comments

  • Horse Plains DrifterHorse Plains Drifter Forums Admins, Member, Moderator Posts: 40,234 ***** Forums Admin
    I don't have much to add, but I'll be interested in responses by those with knowledge of such. Been meaning to get in the silver game for quite some time, but wasn't too interested in buying at the prices over the last couple years.
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  • Don McManusDon McManus Member Posts: 23,695 ✭✭✭✭
    There was some talk on one of the business channels that gold and silver were being liquidated by some of the larger players to cover short sales that had gone bad.  While anything is possible, this seems a bit of a stretch, unless, of course, they are very large players and they are very stretched.

    Silver to a greater degree than gold is still a significant industrial commodity.  A drop in silver value could be a forward looking drop based upon a presumed drop in industrial activity.  Gold will track silver to some degree, and with the larger drop in silver today as compared to gold, it is very possible that this is a reflection of industrial use of the metal and not the precious metals aspect.
    Freedom and a submissive populace cannot co-exist.

    Brad Steele
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  • serfserf Member Posts: 9,217 ✭✭✭✭
     Nope It's falling right now, wait for no one wants to sell at a fair price until after the pandemic. If you want to anyway go with bars of bullion it's the cheapest way to go for insurance for a  collapse right now. 
                                                                       serf
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  • SW0320SW0320 Member Posts: 2,548 ✭✭✭✭
    edited March 2020
    Don McManus said:
    There was some talk on one of the business channels that gold and silver were being liquidated by some of the larger players to cover short sales that had gone bad.  While anything is possible, this seems a bit of a stretch, unless, of course, they are very large players and they are very stretched.

    Silver to a greater degree than gold is still a significant industrial commodity.  A drop in silver value could be a forward looking drop based upon a presumed drop in industrial activity.  Gold will track silver to some degree, and with the larger drop in silver today as compared to gold, it is very possible that this is a reflection of industrial use of the metal and not the precious metals aspect.
    Both comments seem to make some sense.  I have been watching the price and wondering why the decline was happening and the decline has been very quick.  I watched the price of silver drop almost a dollar an ounce overnight.  If production is not happening then demand must be way off. 
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  • JunkballerJunkballer Member Posts: 9,309 ✭✭✭✭
    edited March 2020
    I've always had a problem believing anything advertised or hawked on TV commercials, normally I just tune them out.............this may prove to me my instincts were right. I'll take bullets and greenbacks any day   :)

    "Never do wrong to make a friend----or to keep one".....Robert E. Lee

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  • kannoneerkannoneer Member Posts: 3,402 ✭✭✭✭
    Silver was down around 10% yesterday. A few more days like that and I might get interested in buying some silver.
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