The only metals worth buying is physical metals stored at a secure vault or in your own possession. I find the silver price to be severely out of whack because despite always being sold out in physical form for months now the price hasn't gone up enough to stop the massive buying from eating up all the stock at bullion stores.
Joshuakm
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@GregTheSpider69, What is more crazy is, this is the first time in history Silver has been more rare to find then Gold. In general there is a P. Metals shortage, most people don't know this. Silver is not renewable like Gold, It gets used up. With Gold in the lead on any move, Silver will out preform by miles!!! After the correction, Silver my even be valued in relative terms to Gold.
bos711
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Hello,
So it's good to buy now, how hight it will go?
For a moment all, Gold and Silver going down again.
Joshuakm
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@bos711, First off I can only state my opinion. I've been following this economy since 2012. IMO this is a correction happening. Silver is still half priced, not including correction territory. The fragility in the market can't be suppressed much longer, IMO. The RSI, RVI and Lin Reg check each other against, essentially, Liquidity. Too high in all 3, It's over bought. Too low in all 3, Its over sold. I am so long on physical Gold and Silver, I ignore the stop (kinda hard to do any way). This now is such a buying opportunity for physical, after the gains we saw, it's not even funny. How high it will go is the ultimate question, no one knows.
audreyj1980
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@Joshuakm, Is it currently considered overbought? If you had to pick a spot price floor for silver, what would you pick? I was thinking $21 but that seems low. I think it is telling that silver can't stay above 26. To me that signals that once people stop propping it up, the downward decline will take it to 21. Or it could be that the shorts are trying to force it lower and it wants to break out above 26. Which do you think is more likely?
Joshuakm
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@audreyj1980, Please note, I can only give an opinion here. Likely a suppression is happening. 3am dumps on the market is proof of that. It was overbought, but as of now it is in safe trading levels again. Looks like yesterday was Silver giving back to go higher. A bottom, hmmmm short term, the 25.259 pip resistance level looks to be a solid floor, may test that today. Longer term look to around $55 level as a floor after a MASSIVE rebound.
Joshuakm
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@bos711, I mean, yes. This is all just my opinion in the end. My tip, learn how to identify resistance/support levels. Give the markets upwards of 48 hrs to react, the rest will be obvious.
bos711
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@Joshuakm, Hey finally I was looking for gold, the fight start in Asian session and they broke the Resistence at 1940 and silver just fallow gold.
Now it can be 30 and more. I normally can see the resistence but here it must be gold. Silver don't go up without Gold.
I traid with Gold normally.
Well thx any way.