PM's in freefall??

[5huggy]

Silver @ £11.50 / $14.785 !

Does anyone else feel that this could go much lower or is it really "backup the truck" time!

I have not seen a consistent fall period like recently , for quite some time - but this to me is very like 2007/8 again

Much lower and I rape the Isa savings to "pour" into PM's

PS gold silver ratio now 80.2 - 1

[PansPurse]

Can it fall further? Sure, it's been on a relative high since late 2015. The current price is approaching a low for the year, so not really historic levels but certainly a relatively good time to pick some up

[KDave]

 

I remember someone predicting GSR 100 -1 before things turned around. I am not sure we will see that, looks to be dollar related more than metals driven.

[Professor]

TTB

Time to buy.

If it goes lower, you'll dollar/pound cost those averages down.

FWIW, I believe it will go lower than current levels, but that is based on a coin toss.

[5huggy]

GSR - just since I started this thread is now 80.438 wow! its going up like a rocket

I think there is (not sure what) something else going on other than just dollar strength!

have to agree with @Professor £/cost average is going to improve at these levels - but thats relative also to the amount you buy "low"

[Martlet]

Biting tounge on this, but look at a XAU/USD long term chart, multiple lines of support been breached.  Many dont like technical analysis but traders follow them and they make the market.

[HawkHybrid]

what does your strategy say you should be doing?

 

summer is usually a time for lower pm prices. it's a

matter of time and not price. I would not go all in at

this point as there are things that are unclear that

might get clearer in the autumn. imo long term buys

on offers should be ok.

 

HH

[Professor]

54 minutes ago, HawkHybrid said:

what does your strategy say you should be doing?

summer is usually a time for lower pm prices. it's a

matter of time and not price. I would not go all in at

this point as there are things that are unclear that

might get clearer in the autumn.

I agree. I wouldn't buy massive amounts of silver at these prices. If it ever got in the $5-$10 range again I'd be selling stuff to buy much more, but as for strategy and where the price is currently… just keep trucking, adding to the stack. Instead of buying 5 or 10 ounces at a time I might would add an extra ounce and do 6 or 11. Just my opinion.

[5huggy]

@HawkHybrid and  @Professor  like the advice /hints as it does tie in with my approach /strategy cheers 

It is nice to get some form of confirmation that "MY" thinking is not off target! 

[PansPurse]

Well, this is now the lowest it's been in my short time on the stacking scene. Definitely enough to tempt me into picking up an extra ounce or two

[flim]

silver prices is falling, so is available stocks

[knighthawk]

I wonder if this will have any effect on the group order's last weekend.

[5huggy]

9 minutes ago, flim said:

silver prices is falling, so is available stocks

Yes , have to agree - but who's sweeping up on a drop like this (and I do mean of the bigger players?)

[PansPurse]

1 minute ago, knighthawk said:

I wonder if this will have any effect on the group order's last weekend.

Oh gods, @BackyardBullion I'm sorry, I think we might be about to break your kitchen table...

[5huggy]

1st tick back up at $14.39

[JunkBond]

Just now, PansPurse said:

Oh gods, @BackyardBullion I'm sorry, I think we might be about to break your kitchen table...

If it gets much lower even I might buy a couple of Eagles...

[StackerNoob]

2 minutes ago, PansPurse said:

Oh gods, @BackyardBullion I'm sorry, I think we might be about to break your kitchen table...

I was happy to stop at 15 oz for this order, however.....

[TerryGriffiths]

If we follow the 2008-2011 market pattern, I think we could see silver in $10 range.

That's the time to load up with a nice 500 -1000z order.

[BackyardBullion]

20 minutes ago, PansPurse said:

Oh gods, @BackyardBullion I'm sorry, I think we might be about to break your kitchen table...

She is a sturdy old girl - can take my weight easily enough so we are good for now ?

[Professor]

58 minutes ago, TerryGriffiths said:

If we follow the 2008-2011 market pattern, I think we could see silver in $10 range.

That's the time to load up with a nice 500 -1000z order.

^^^^^ THIS ^^^^^

If it hits $10/ounce, I would be buying as much as I could. 

[Professor]

Always remember the long game (see bottom row).

[5huggy]

If it got to $10 - then I think it would bounce back rapidly on the "Silver stacking community" worldwide  buying like crazy

[BackyardBullion]

I would just like to add my 2 cents here 

PM price drops are common and they often correct themselves (maybe not all the way) to a certain degree. Just because prices are falling today does not mean anyone should rush out and buy. I have and always will advocate sticking to buying strategies and to always buy within your means. 

Also, don't put all your eggs into one basket - whilst prices are low that does not mean that they should be the sole focus of a saving strategy.

Personally, I am going to be spending the same amount of money I had planned to this weekend - all it means is I will get a few more oz's for my money!

[JunkBond]

The voice of reason, well done @BackyardBullion

[BackyardBullion]

6 minutes ago, JunkBond said:

The voice of reason, well done @BackyardBullion