Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You know theres always tons of entries here, I see it going down again and then maybe out performing gold by a mile IMO no real proof, did loads of DD and just have a feeling that it will bounce like never before.
Cheers Buds \_/
lol, wish i did that at yesterdays high
Then SHORT it Bert! lol...
Looks to be a good play right now and I personaly think AAPL in the next few weeks will go down as a huge $$$ making short play as well, but who knows? lol...
Cheers Buds \_/
A hand drawn chart is your conclusion silver is going to $22? Pshaw!
BAM...
Silver set to shine after escaping India's budget clutches
While gold's southward journey continued for the third straight day in Mumbai Monday, investors showed a keen interest in buying one kilo silver bars also known as `chausar' given the excise duty exemption.
Author: Shivom Seth
Posted: Monday , 19 Mar 2012
MUMBAI (MINEWEB) -
Silver, the poor man's gold, has turned out to be the winner in India's budgetary excise duty cuts by escaping the attention of the Finance Minister. Investors in India are keen to push silver above the recent channel high with traders insisting that it will be more than speculation that will drive demand for the white metal.
"Silver has clearly been exempted for a reason,'' said Prithviraj Kothari, president of the Bombay Bullion Association. ``Out of $50 billion worth of imports of precious metals into India, silver imports were just $4 billion, while that for gold was the other $46 billion,'' he said.
On Friday, India's Finance Minister exempted branded silver jewellery from excise duty. Silver coins of purity 99.9% and above were also exempted from excise duty. However, the excise duty on refined gold was doubled from 1.5% to 3%.
Kothari was of the opinion that silver coins and silver bars, called `chausar' in the local lingo and among bullion traders across the country, would soon sell like hot cakes. "There is not much demand for silver jewellery among Indian investors. Most go for high value silver coins or for a 1 kilo silver bar. The latter is expected to fly off the shelves now and investor interest would surely be pushed higher as a consequence of the double whammy on gold in the budget,'' he added.
Kothari added that the price of silver was bound northward since investor interest had shifted given its usage in solar panels. Panel makers consume about 12% of the world's supply of silver, the material in solar cells that conducts electricity.
Silver paste is used in 90% of all crystalline silicon photovoltaic cells, which are the most common solar cells. Though the solar industry is not the largest consumer of silver, it is a growing market that could give silver producers a boost, say traders.
"It is something whose time has come. Most of the markets that silver serves follow traditional supply and demand economics and therefore competition is based on price, product line, and service. In the case of a hyper growth industry such as the photovoltaic industry, silver is bound to streak ahead,'' added Kothari.
The rise in solar power is arguably the most significant development for silver demand in recent years. A GFMS report noted that over the last decade, the sector's offtake had climbed rapidly, soaring from less than 2 million ounces to an estimated 50 million ounces in 2010. In 2011, demand was expected to reach nearly 70 million ounces, an increase of 40% year on year. So analysts expect demand from this segment to keep growing.
In precious metals, silver was down 0.65% in the international markets at $32.36 an ounce, bringing the gold to silver ratio, which is the number of ounces of silver needed to buy one ounce of gold, to around 51.0, the highest for two weeks and reflecting silver's underperformance relative to gold.
In India, a depreciating currency has also played spoilsport. The Indian rupee has tumbled by 16% against the US dollar. Some traders insist that as silver was left out of the latest budget tax increase, it may benefit from speculative plays and the spread between gold and silver should narrow.
"Silver has remained outside the double tax on other precious metals. But one should not forget that recently the silver import duty was raised to 6% of the value to discourage imports and enable better utilisation of forex reserves,'' said Sunder Raghavan, bullion trader.
"In purely psychological terms, the news is likely to weigh on the price of gold and in the current market could help ensure that the gold price does not increase significantly in the near future,'' Commerzbank analysts said in a note, adding that following a rollercoaster ride in 2011, rising industrial demand coupled with growing investor interest should prompt a sustainable increase in the price of silver this year.
In the case of gold though, the analysts have said, ``This could lead to lower imports, which would remove an important crutch from the price of gold.''
Traders point out that silver has several industrial uses. ``This year, it is estimated that global industrial demand for silver largely driven by India and China will increase by 30%, from 487 million ounces in 2010 to 624 million ounces. At a time like this, the Finance Minister excusing silver from its taxation basket is heady news,'' said Udayan Murti, bullion analyst with a broking house.
Kothari was of the opinion that though India imported around 4,800 tonnes of silver last year, this year imports would hinge around 3000 to 3500 tonnes. ``Last year there was a lot of consumption. With inflation on the rise this year, there is not much savings left in the hands of individuals. Though the `chausar' bars are still a hot property amongst the regulars, the budgetary proposal to fully exempt branded silver jewellery from excise duty will result in an increase in the number of branded silver jewellery items. Currently, there are only a few brands in that segment. So, that will be one segment that is bound to grow now,'' he added.
Traders and analysts added that silver has been the underestimated bullion with immense savings potential that may help in capital formation for future growth. ``This (exempting it from budgetary tax) seems to be a welcome step to realise its untapped potential. Moreover, it has a broader reach across income groups compared to other precious metals, because of pricing,'' said Murti.
http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=147564&sn=Detail&pid=102055
A sales pitch for silver Panda coins is your reasoning why silver isn't going to $22?
Cmon.
Silver isn't going to $22 an oz in China:
Tuesday, March 20, 2012
A record-smashing eight million 2012 Silver Panda coins have just been announced for China.
So why can’t anyone in China get the most exclusive and desirable coins of them all?
Simple. Because I bought them all—100% of them—just for our readers!
And believe me, the coins I have secured are the absolute pinnacle of perfection.
They’re not only perfect; they are also the only government-certified First Strike Pandas available anywhere! These exclusive premier coins account for less than 1% of the 2012 mintage!
How Hot is HOT?
There’s no doubt about it: the China coin market is HOT!
It’s so hot that at last year’s World Money Fair in Berlin, a Chinese coin with a pre-auction estimate of $13,608 sold for...$723,921!
It’s so hot that some previous China Silver Panda coins now command staggering premiums in the marketplace - up to $1,700 in top grade and scarcity. Locating high-demand coins like the 2012 Silver Panda takes the kind of relationships and market knowledge that I’ve been cultivating for years.
Now, it’s time for you to reap the benefits.
Don’t miss this opportunity. Read more about these stunning 2012 Silver Panda MS70 First Strike coins now, before they disappear!
P.S. You can take advantage of this incredible China silver deal absolutely RISK FREE for as little as $129...that’s pocket change!
If someone hand draws a chart like this, it must happen. Have a lot of dry powder to snap up all that stray silver people will be GIVING away at the teens because it will be worth 10 times that when the shortage explodes.
Man teens would really be something "well gee Wolly do ya really think it will happen"
"one could only hope Beav"
Besides you know it’s a ruff run when the price action on your hand drawn chart is in the volume graft! Rofl….
Cheers Buds \_/
P.S. Go Go Go $SILVER/SLV
He could be right it is an election year, they will prop up the dollar and silver will drop and then it will all come unraveled and BOOOOOOM! See like $150 OZ silver IMO or maybe nothing like that will happen at all???? Don’t have a crystal ball and have never been that great at predicting the future but then again I’m not blind either! Lol… I see what’s going on in the world.
Cheers Buds \_/
Still waiting for that $22! lol... Could happen and I'm still hoping it does, that would save me 5k on that box of Maples.
Cheers Buds \_/
I see $62 or better this year....
2008 till now Gold and silver compared to Dow
Dow was at 13,232.62….up 1%.
Gold was at $1,658….up 96%.
Silver was at $32.27….up 116%.
If we went back some more gold and silver would be 2-300 more % outperforming the Dow.
To late to get scared now! Lol…
Yah a few traders do play in real money IMO and he’s going in stronger than me but I try.
Cheers Buds \_/
Probably will go with 3 buys unless my self control gets me and go 2 buys, slv uslv agq, ugld mostly silver.
holy snikees... I would divide that out into 10 15k buys... say 15k each month for the next 10 months and pick a bottom every month (or something similar) IMO...
Mine is also fair weather only , if down she wants to run if going up she never wants to sell, but she can't buy on the way down on anything, good person but sheep is the word yes.
I have 150k set aside to try and catch bottom here is why I'm trying to do the best on bottom fishing, with that much on the side, I sold some mutual funds to go in big.
I agree, my wife is one of the sheepeople and saturday she turns and looks at me and says "Something is wrong around here we need to get the hell out of here!" and all I could do was laugh?
Cheers Buds \_/
Bought my first oz at 5-6 gold 340 at the bottom but still buying on dips.
The Longer term is going to be huge, the manipulation scam will end at some point.
We Could just as well see $100 slv this year, I don't know when people will wake up more so they just have not yet, the margin increases ran off the the paper speculators last year.
It's Just That I have powder to put in and was hoping for the best deal, no matter I still have enough to make a person very well down the road, I did not sell any silver or slv on this dip, just looking for the best to lay some more on it, for long term.
I been in this for years and keep adding to the pile.
They can stick this in a whole all the way to Friday if they want my dealer is open 24 hrs a day! lol...
NOTE: just feels not quite right for a long to be hoping for a down run IMO lol...
Cheers Buds \_/ and come on $29! lol...
12:00 knock down hope the stab it down and another one tomorrow.
Yes 5-10-20 turn down hope so
i think going down. 5,10, and 20ma's turning down
Silver is out shinning Gold today , by along ways.
Seems a big market correction maybe soon could take slv down a notch or 2 .
I'm holding off my big buy , hope your right.
SPOT at 33 now but looking at SLV daily, the upper BB is coming down hard and decreasing volume. not getting over the 50ma. its gonna break. i just don't know wich way
What the Buyer hope for is a manipulated pull back, which maybe likely on the other hand silver can rocket up as well, we don't know what is what really, except , silver bugs know that its on the cheap as we speak.
Fair Price For Silver Is 100
Silver is way on the cheap compared to Gold
IMO if it's still worth $30 an OZ when the USD o's out I will be happy, I guess? lol...
Cheers Buds \_/
Spot 33 now again
I wish silver would pull back to 29 loading zone, that's a wish though.
Never Know Silver is Cheap here IMO , but that's mine. $806 is 600 year average price.
31.82 spot I guess, thanks
CENTRAL BANKS BUYING GOLD WHILE PRICES ARE LOW
Precious metals prices have moved little through this morning. In the past few weeks, Gold has been experiencing a positive correlation to Treasury prices, which means Gold likely will follow the trend of U.S. bond prices. According to the Financial Times, an industry source reported in recent weeks that central banks have been buying Gold, with an estimated 4 metric tons of metal being bought. The attractive prices are considered to be why central banks were drawn to purchasing. The consumer demand seems to have helped boost Gold sales at this time, more accurately termed “bargain hunting” at these price points.
With India's announcement Friday that taxes for Gold purchases will increase, many jewelers across India have been on strike, knowing the shift to double customs duty on Gold will increase prices and weaken demand. Anjani Sinha, chief executive of the National Spot Exchange in Mumbai, outlined a method to entice citizens to increase investment in Gold. “The scheme should be so attractive that it would lure Indian households to deposit their Gold ornaments with banks or Reserve Bank-approved mints in exchange for a Gold bond. This Gold can be melted, refined, converted into hallmarked Gold bars and resold by the banks in the domestic market. This would help reduce the import of Gold in India without impacting the domestic demand and supply dynamics.” Today, credit rating agency Moody’s announced that starting in April, India's credit rating will be credit negative for its sovereign debt. Moody’s said, “A dependence on corporate tax revenue and vulnerability to commodity prices and exchange rates weakens the government's credit profile. And the … budget’s lack of specific policies to address these weaknesses is credit negative.”
Oil prices are moving up today as unrest continues in the Middle East. Iran’s nuclear program is still a source of concern, and the potential of military strikes and Western sanctions are sending prices soaring. With higher oil prices threatening to stall economic growth globally, OPEC leader Saudi Arabia is increasing production, and the U.S. government is considering tapping oil reserves. Libya also appears to be ramping up its oil production. “Iran as a supply risk is supporting prices, and weaker demand, rising production and physical oversupply is weighing on prices, so it is keeping prices rather stable in this narrow range,” said Carsten Fritsch, commodity analyst at Commerzbank.
dow is WAY overbought now IMO... all due to the plunger team IMO wait until they sell...
Then maybe you should watch the content of the video. It's actually quite good and 100% on the money!
Or don't either way it doesn't matter
below the 100ma. 32 coming and test of 31.82 is my guess
there's always going to be scepticism I'm sure.
its quite far fetched and inconceivable for us to believe such an organization exists. check out this article from 2002
http://www.rense.com/general30/illuminatidefector.htm
I would not trust a video labeled "Illuminati."
Silver and gold have more than just one force tugging on them at any given time.
There is a finite amount of capital in the system at any given time. The entire past year has been about the flight of capital from one asset class to the next, thus supply and demand are still in action.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |