MrRenev

Gold/Silver ratio highest level in at least 50 years

Mainstreet never talks about silver "How to survive a depression, buy gold!", all the baddies on tv youtube etc are encouraging the baddies that watch theml to buy gold .
So it goes way up, and silver doesn't do much.

Silver is approaching a multi year support might bounce

Gold is there:


Silver buyers trying to outsmart the herd are probably wasting their time.

I'll likely buy the silver support, maybe even leave some in long term if it rallies, but not going to have high confidence it starts a bull market.


Just follow the herd of dum dums, only difference is getting out when they get complacent bagholders.

They have been pretty correlated for a while thought. RR is bigger on silver . Soooo... maybe a good idea to try and outsmart the herd this time?




All I know for certain is I want to buy the support if there is a pattern and then I'll try holding since there's a catalyst for going up.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

Comments

PM dealers and brokers wont sell at these severely undervalued prices, unless premiums sky rocket! Oh, wait...
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gabys225 AMERICANHANDYMAN
@AMERICANHANDYMAN, What does PM stand for?
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MrRenev gabys225
@gabys225, Must be prime broker or portfolio managers. Not sure what premiums he is refering to.
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@gabys225, Precious Metals dealers/brokers. I bought an ASE American Silver Eagle at spot price $12.55 yesterday, but paid an additional $6 premium = $18.55 out of my pocket.

PM dealers in my area dont have enough inventory to meet demand, so they have to raise the premium they charge. All dealers and miners are bleeding losses at these low prices.

Average production cost to mine 1oz of silver is between $14-16.
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gabys225 AMERICANHANDYMAN
@AMERICANHANDYMAN, Thank makes sense, thanks for the detailed response.
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