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I traded some gold for silver the other day when I saw how low silver was. Damn thing's gone even lower!

 

Oh well. :lol:

 

the upward breakout on the GSR (pixs chart below) could be very short-lived if gold takes off again from here - the effect on silver will be a sight to behold.

 

The fate of silver rests in golds hands once again.

 

GSR-1.jpg

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Previous dip suggests a bottom around 15.50. If the long term trend holds, could be a good buying op.

 

I actually agree with that. There were a lot of buyers around the $16 - $15.50 area in Sept/Oct 09.

 

If I was light on Silver I'd certainly be buying around this area.

 

Right now i'm keeping my guns out incase we go back to the old $12/$13 days. Not that I think it will make it...but just incase.

 

I could well pull the trigger in this $16 - $15.50 area tho...it's going to be a very busy couple of weeks in the precious metals I feel!

 

Good luck all!

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that graph is a bit misleading GF - the large spike in 1933(ish) is due to the GDP shrinking massively, rather than the debt expolding - still doesn't mean the right hand side won't explode upward though.

Yes, but what is the willingless of politicians to led GDP shrink rather than letting debt explode?

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Gold and Silver positions update -

 

http://www.caseyresearch.com/displayGsd.php

 

To give you an idea of how concentrated the positions of the '4 or less' or '8 or less' bullion banks are in silver... the '4 or less' bullion banks are short 294.1 million ounces and the '8 or less' bullion banks are short 340.3 million ounces of silver. These amounts represent 107.5% and 124.4% of the net short position. What this means in plain English is that if the '4 or less' and '8 or less' bullion banks weren't there as the shorts of last resort... and what I call 'not-for-profit sellers'... the price of silver would explode to the outer edges of the known universe.
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Has anyone used the following site. It has some interesting coins and bars

http://www.silvercoinsbullion.co.uk/index.php

 

Looks very similar to Sarnia. At £13.50 for a 1oz Buffalo, I decided to order 4 (the most it let me order) £3p+p = £57 for 4oz physical, not a bad price imho. I will update the thread when / if I receive the coins with my thoughts.

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Silvers fortunes are probably tied to coppers.

 

As an aside until yesterday one of the three phases of my sealed mains electric switch was fused closed and the electrician rather than just opening it up, as i did while he was there, just fitted a new one at the cost of 250 - 300 euros and said he could not trust it would happen again. He seemed surprised it was working after i fiddled with it and he had already bought the parts.

 

I protested that the switch used silver and would last more or less for ever

 

After he had gone i smashed up the switch and saw the silver contacts were more or less as good as new and only the grease from the mechanism had caused the silver to fuse in a tiny area. Even so i threw the silver parts away. I already have too much stuff. I suppose there would be about a total of 10 -30 grammes of silver in the 6 contacts of the switch.

 

By the way RH all of those older style white light switches that tend to be a bit loose in NZ houses have silver flattened 'wires' and contact parts.

Yes, I imagine silver will be doing a lot of switching in the future... up, down... up, down... :lol:

 

Now in dollars [trading account] waiting to switch to silver....

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