Short Silver

Discussion in 'Metal Futures' started by consomme, Aug 15, 2005.

  1. consomme

    consomme

    Looks like silver is ready to breakdown hard, with gold going up so much this week silver just doesn't seem to have any buyers. Targeting 6.400 from this level (same distance from previous 6 month range).
     
  2. Yeah, Silver has had a lousy two days, and closed under 7 today (Sept). But recently everytime I've seen such a drop to this level its always met with buying to keep it over 7.
     
  3. Maybe few buyers, but it needs sellers to go that far- im thinking a dec options straddle might'nt be the craziest idea right now.
     
  4. ok ... this is a little off topic but ...

    whats the relationship between silver bullion prices
    and numismatic silver coins long term ... I think
    the last time silver really rallied hard in the 1980's
    silver coins rallied even harder but after the bullion price came off ...
     
  5. with the GLD etf, it's hard to make a case for gold or silver coins. I think they became popular as a way for the public to participate in the gold/silver market. Don't really see any reason for someone to pay much of a premium above bullion just to have some coins to play with.

    As for silver coins in the late 70's/early eighties, I remember a *lot* of little businesses at that time jumping in the silver bandwagon. Many storefronts of most cities would have signs offering to buy anything made of silver and *especially* the 1964 silver quarters.
     
  6. I do:

    Bullion coins can be a <b>hidden</b> asset.
    Hidden from capital gains taxes.
    Hidden from frivolous lawsuits.
    Hidden from divorce decrees.
    Hidden from a U.S. government which creates artificial 'crimes', and then seizes private property at will as 'punishment'.
    Hidden from a U.S. government rapidly descending into fascism.
     
  7. funds are at record net long silver.....

    if gold has it's once a year $20 washout day for whatever reason, the load of sell stops below $7.90 may get a visit......
     
  8. on the positive side,

    all the money that's been jerking copper around needs a new home.........

    silver, which is a tiny market, may be the new playground
     
  9. tomcole

    tomcole

    If the silver ETF gives birth, silver will explode.

    IMHO, the gold etf which pulled over 210 tonnes of gold off the market, is mainly responsible for higher gold prices now. We'll see if this phenomena continues next year.
     
    #10     Nov 26, 2005