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Silver Closes Well Above $30 As The Dip Is Now Fully Bought
It looks like the much maligned correction in silver is over. After surging nearly 3% on the day, silver is now back above the 20, 50 and 100 DMAs, and what was formerly resistance is now support. In fact, silver is less than $1 away from its recent nominal highs of $31.2375. It appears that speculators have Bought TFD with a vengeance. Hopefully, this also explains the massive silver purchases disclosed by the Mint (already at 838,000 ounces for February) and presented previously on Zero Hedge.
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I have spent all day rubbing silver on my nuts. Very therapeutic. Feel better, larger somehow. Beautiful, luscious silver. I may eat some soon after I rinse it off. Or not.
Did it turn them blue?
http://www.youtube.com/watch?v=LowTUTGOtE0
Can't stop laughing.
Me too... he used to live in bend, oregon. my wife told me about it, she saw him leaving the hospital...apparently too mean for him in bend
don't rinse for 24 hrs. you'll see even a more vas deferens. when you eat your silver, why not have some nuts, too? pee-nuts?
Thanks Tyler for the 'backwardation' article yesterday....looks like that event on Friday may have been a true tell of a physical shortage....maybe....hoping so.
Expect the silver miners to begin to start showing more life if we can stay north of $30 for a week or so....some of the analysts will figure out what $30+ silver means to the bottom line at the producers...I would guess the letter writers are busy today cranking some new numbers soon to hit the airwaves.
Not that I am recommending the stock (even though I do own it) but it is interesting to note that HL actually has a negative cost on its silver due to the bimetals.
.......latest quarterly report shows a negative silver cost of $1.01 per oz. Given Ben's ramp up on all the metals, I would guess that this negative cost has expanded, though you never know for sure until the numbers are released since they may have chosen to mine lower grade ore, thereby extending their mine(s) life.
don't want to jinx it (probability is low anyway) but i've not encountered 7 consecutive green bars on the silver hourly chart. 6 yes, 7 no. it'll be close.
So, will Silver be hammered down as it approaches of 31 or do we break new highs?
Silver equities still trading well below their recent highs.
....the shorts have to be sweating it after today...but if it is JPM on the short side, they can throw a lot of paper shorts at this and try to break it.
IMHO it'll take the miners a bit of time to catch up...some folks are still nailing down their profits from last year's run up in the miners...those sellers need to be done...maybe in a week????
once the article that broke in wsj about a 10 mil leveraged play unwinding causing spooking anyone who was worried (and in the know) felt betterand knew this was matter of short time with the backwardation Turk was all over it ...
Perth Mint kilo coin production of Silver is indicating that we will see 14% of Australian mined Silver sold in this form:
http://www.bullionbaron.com/2011/02/perth-mint-kilo-coin-production.html
Retails investors everywhere are getting aboard this train. The price has much higher to go in my opinion, but we are also entering the public awareness phase of this bull market in my opinion, so caution is advised. Have an exit plan!
http://www.bullionbaron.com/2011/01/goldsilver-entering-3rd-phase-of.html
Hey Guys. Still a newbie here trying to educate myself on all PM's related. Looking
into buying from apmex. It is a bit confusing on which coins to purchase.
Just from clicking on maple leafs (silver) there are a lot of choices:
2009 - (1 oz) Silver Maple Leaf - Brilliant Uncirculated
2009 - (1 oz) Silver Maple Leaf - Ox Privy Mark
2009/10 Vancouver (1 oz) Silver Maple Leafs
2008 - (1 oz) Silver Maple Leaf - Rat Privy Mark
2006 (1/2 oz) Silver Timber Wolf - (Sealed)
What is the difference? What do you suggest?
http://www.apmex.com/Category/160/Silver_Eagles___Uncirculated_2011__Pri... I just buy uncirculated Silver Eagles - buy America and all that.
+ Silver Eagles.
I bought Gold & Silver Eagles exclusively (yeah OK, I paid a bit higher premium) because I wanted them to be easy to recognize and sell if I have to.
Yeah I was thinking Silver Eagles and Maple Leafs. Just to diversify a little I guess.
With all the SHTF scenarios brought up here on ZH, i wonder if buying from a local
dealer w/ all cash would be better? No paper trail.
had good experience so far with apmex. my strategy is to average in for the lowest cost, meaning lowest premium over spot. i've bought au & ag eagles and au pandas for interesting things to look at, but usually I buy bulk bullion whenever i'm accumulating. 100 oz ag bars, plus 10 oz & kilo au bars.
be sure to factor in shipping costs, especially if you aren't spending big $$. Apmex ships free on orders over $25k, and all their shipping seems to be ground. if going smaller, consider tulving, which appears to ship free and overnight. i haven't used them yet, but have noticed they have better/lower premiums on the larger units noted above.
I like buying from the coin shops, for the reason you mention (cash leaves no paper trail).
Also, you will likely have better luck selling back to them if you are their customer, you know, if you ever have to sell...
Makes sense. Can anyone here recommend a reputable dealer in the southern CA area?
Orange County, LA area.
Thanks.
Bigluck, you probably mean well, but think about what you are asking someone to do.
Biggest shop or oldest shop.
In my opinion, your first buy should be the ones with the lowest per coin premium. That would likely be the 1 oz standard Canadian Maples (the 2009's in your example). The more decorative coins like the Wolf or Olympics have higher premiums. You can collect those later when you get the basics taken care of. But there's no guarantee that these coins will hold their premium above the standard issue. Personally I wouldn't buy 1/2 ounce coins as the premium per coin will be too high. If you want a lower denomination then $30 of silver, I'd get 'junk' silver like silver quarters or half-dollars. They will have a lower premium to spot. Apmex sells those by the roll...
@bigluck, I found this helpful in guiding my initial entry into physical PM:
http://the-moneychanger.com/commandments.phtml
HTH
Thx for your help guys.
bigluck: i don't know where you live. in my town we have three coin dealers, another 8 mi. south, some more, abt 25 miles past that one, then another 25 mi to bigger cities. coin dealers can help answer your questions. since they also buy coins, when i go into a shop, or call about something, i always think of a question that will give me an idea of their mark-up and spread: would you please tell me what you are buying and selling silver eagles @, today? and premiums may be increasing. they go up & down, too. SE's can be bought for spot+ $2, locally, and sold for spot +1, the last time i checked which was months ago. NO SHIPPING & HANDLING, either. we also have a very active coin club. they have monthy dinners and drawings and all that stuff. i checked it out, but decided against it. why let strangers know that you have silver, and then sign up for a free newsletter delivered to the address you just gave them? slewie didn't like the set-up. loose lips do sink ships, ya know? think about it, please. dealers respect cash, which doesn't have my address printed on it, and anonymity. shtf, what is that ampex data base gonna be worth to da beagle boyz?
sometimes silver dollars from the 1800's - 1935, which have .773 oz per coin have less premium per ounce. people get them @ fleas, estate and garage sales, sometime for melt value or less, as folks above. i have a friend who called me from a garage sale, when silver was @ $16. when i got there, the coins were tarnished. not pretty. but they were almost all in nice condition, not banged up, dented, scratched, or worn. he was too pi-rat-ical, himself to take my lo-ball, and said $12 each. we finally made a deal: i took 17 for $204, and he threw in one that had a bad rim nick, for free.
i told him i had not paid that much for silver, before, which was true. so, he helped me pull the trigger.
What is your aquisistion strategy and budget?
hahaha...jeeez! you weren't addressing that to me, were U? sry...
YouTube - Bill Monroe - Blue Moon Of Kentucky
hope ya like at least one of these, OK?
YouTube - Neil Young & Pearl Jam!
peace
This is exciting, but, this move is in the realms of possibilities in a big silver correction. This baby has to go north of its old high. I'll just sit here quietly having a nervous breakdown till it happens
Sophist - yes hate to poop the Jamie Dimon bashing party here and the lovely 3.33% stormer of a rise today but i wonder if this is the last chance saloon for the PM's.... US property took another hammering, the Banksters are going to follow down the hill, then the Indexes and then, "We're going to Party like it's 1999", sorry 2007 all over again into the abyss where PM's will undoubtedly follow as liquidity dries up... that's the downside, the upside is you can short Jamie Dimons arse
" into the abyss where PM's will undoubtedly follow as liquidity dries up"
This is a very interesting observation, but it does seem to be looking at a "static snapshop" in relation to PM spot price vs. available "cash".
I think that there will be some dynamics here that you may not have expected. True, as OUR economy (US and EuroZone) gets hammered, it will be a while before the other buyers of PMs (Asia, India, S.A.) are effected. As demand in our region drops, and thus price, I think that the other regions will pull forward demand (BTFD) and there will be a nice floor established under certain PMs. I think that your analysis will be spot-on though when looking at the ETF prices! Those other buyers are not at all interested in little slips of paper saying that someone (you trust) is holding your ass(et) for you. Can't make a pretty piece of jewelry from scrip, ya know.
the sheer size of the US and Eurozone economies still put Asia etc in the shade for the forseeable future so when Credit Crunch II strikes these 2 trading blocks the rest of the world has to cling on for a rough ride including in the commodities and PM's!
Yes I agree there'll be many floors on the way down, though bouncing down steps may be a better analogy. The ETF scene seems to be 'sponsored' in large part by the major banks who when the crunch comes will take casualties so not sure how these paper IOU's will hold up. The physical stuff is always a reality you can't take away unlike 'assets-on-paper' ETF's
Welcome to the United States of Zimbabwe...never underestimate the replacement power of newsprint within an inflationary spiral. Dow 36,000 here we come (silver at $100/oz.) and a case of Bud will be $50. Recall that all government pensions are indexed to inflation which will be reported at 2.4% annually.
Blight Masters in hosed.
You're drunk, right?
hmm all that talk of Alaska's new gold rush in Pebble Mine shows those mines with plenty of gold & copper but NO new large silver stash... break to 40 soon!
Silver should have tanked this morning with oil on the chinese rate hike news. Instead it rallied and has not looked back. Could very easily break out to new highs from here. China has switched from a net exporter of 100 million ounces to net importer of 100 million ounces. Suck it Blythe.
KEEP SHORTING INDIA
http://markettechnicals-jonak.blogspot.com/2011/02/more-downside-for-nifty.html
$1.7321438862 is the total melt value for the 1942-1945 silver nickel on February 08, 2011.
yep. i saw them online for $40/roll, but was so busy buying q's and uncirc. stuff (that was fun!) under melt + s&h, that when i went back for them, they were gone.
i was quite thankful that our universe has provided poor people w/ silver.
I've never doubted that silver would recover from the recent exchanged raid on margin calls. The fundamental story on silver has been great for a long time and it just keeps getting better. Given that there is so much less available above ground silver than there is gold, I am personally expecting that given its extreme usefulness and the almost total depletion of long term inventories that silver will soon be worth more than gold and given the crushing weight of counter party debt on most fiat currencies, I expect gold to at least double in the next few years.
While break throughs in nano-silver particles and compounds to create materials that are very strongly odor resistant and many other applications for sterilizing an environment for health and medical and other reasons are very promising, it seems that the silver may also be on the cutting edge of helping make the food delivery system healthier.
Here are two fascinating articles on these subjects:
The first from MSNBC:
'Killer paper' eyed for safer food
excerpt:
"...
Scientists have developed a technique to coat paper with nanoparticles of silver — a combination that makes the paper lethal to bacteria such as E. coli and potentially suitable as a food packaging material.
Silver is widely used to fight bacteria, and silver nanoparticles are already found in textiles, fibers, plastics and metals for biomedical applications. The technology is used in wound dressings and microbial resistant catheters, as well as consumer products such as odor-resistant socks (and even space underwear).
Until now, scientists have been unable to deposit the particles of silver — each one-50,000 the width of a human hair — onto paper. The new method involves the use of ultrasound, or high-frequency sound waves, to anchor the particles on paper.
The technique was pioneered by a research team led by Aharon Gedanken at the Institute of Nanotechnology and Advanced Materials at Bar-Ilan University in Israel, and described last month in the journal Langmuir, published by the American Chemical Society.
..."
The next article is entitled:
Silver Nanoparticles – Antibacterial Studies
excerpt:
"...Recent advancement in technology has introduced silver nanoparticles into the medical field. As studies of silver nanoparticles improve, several silver nanoparticles medical applications have been developed to help prevent the onset of infection and promote faster wound healing.
The coating of medical instruments is one recent silver nanoparticles medical application in study. A combination of the bacteriolytic action of lysozyme and biocidal activity of silver nanoparticles were synthesized together as a form of antimicrobial coating on medical instruments. These were applied to surfaces of stainless surgical steel blades and needles through an electrophoretic process. The efficacy of the antimicrobial coatings was tested in an environment that mimics the normal use of the surgical instruments. The environment was an in vitro lytic assay, in which punctures and incisions were done into an agar that has been inoculated with bacteria. Bacterial cell destruction was reported on the areas where the surgical instruments coated with silver nanoparticles came in contact with. This means that the antibacterial properties of the silver nanoparticles were transferred to the surface where the surgical instruments came in contact with, while the same antibacterial properties were retained in the blades and needles.
The treated instruments were observed to have a powerful bactericidal action against Klebsiella pneumoniae, Bacillus anthracis Sterne, and Bacillus subtilis for 1 hour and 30 minutes. Staphylococcus aureus and Acinetobacter baylyi were contained for 3 hours.
Use of nanopartices in catheters is another example of a medical application for silver nanoparticles that is gaining popularity. A study entitled “Antimicrobial Surface Functionalization of Plastic Catheters by Silver Nanoparticles” was published in The Journal of Antimicrobial Chemotherapy (Roe et. al.) supported the value of using silver as a coating on catheters.
Infections due to catheter use are common in hospitals, especially when it comes to in-dwelling catheters. A silver coating was proven to be effective against methicillin-resistan Staphylococcus aureus (MRSA), a common pathogen that causes infections in surgical sites. The cited study observed the action of microbial and biofilm formations in catheter-related infections. A layer of sustained-release silver nanoparticles were applied on the catheters that emit antimicrobial properties for a 10-day period. Major in vitro antimicrobial activity was noted in the coated catheters, as well as inhibition of biofilm formation of several strains of bacteria including Escherichia coli, Enterococcus, Staphylococcus aureus. This finding is quite significant as patients that have in-dwelling catheters are at high risk in developing urinary tract infections due to prolonged use .
Among silver nanoparticles medical applications which may soon hit hospitals is in the treatment of face masks to give them antimicrobial properties.
Face masks in hospitals have all the necessary elements for bacterial proliferation. Masks treated with silver nanoparticles even at low concentrations were proven to be effective against any bacteria that attach themselves to the surface of the mask, including Staphylococcus aureus and Escherichia coli. This finding is significant for this shows that front-line healthcare providers will have active protection against microorganisms during exposure to infectious agents. The use of silver nanoparticles along with other antimicrobial agents will help prevent the formation of resistant bacterial strains.
It is important that any antimicrobial agents used in the hospital setting have little or no adverse effects against on any organic material. During the study, it was observed that the presence of serum has an effect on the antimicrobial property of silver nanoparticles by resulting in a slight inhibition of the property.
The success of silver nanoparticles against bacterial growth is due to the damage of the plasma membrane or bacterial enzymes. This results to a morphological distortion of the bacterial cells, leading to impairment of bacterial metabolism and escape of cytoplasmic substance to the surroundings. To ensure a uniform coating of silver nanoparticles on the mask, oleophobol C was added. Oleophobol C contains no antimicrobial properties, thereby not affecting the antimicrobial action of silver nanoparticles.
Frontline healthcare providers need several protective methods to screen themselves from infective agents and also to prevent spreading infection to others. It is noted that constant changing of personal protective equipments is not always possible, especially when supplies are limited. Application of silver nanoparticles can prevent accumulation of bacterial contaminants from accumulating in the mask, further protecting the wearer from other infections. Sadly, this experimental study is highly limited due to very low number of participants. Those who have used the treated masks have shown no allergic reaction to the new coating...."
Duffminster
so ya gonna spend how much silver to package food?? Gold is useful too in certain ways but not so much so compared to the alternatives with the different in prices.. If silver 'becomes more expensive than gold' as you say, most of the things you mention will not use silver
btw i btfd
oops. dbl post.
i've seen this stuff @ johnny silver bear's, mage, and the colloidal stuff too.
when has price been a problem in medicine? those ninja staph mutants sure are tho! hospitals have an excuse---they need to try to kill germs all the time to try to keep from killing more people than they already do... i think the docs get highly resistant, but some of their spouses and kids have ended up with shit that started to eat them! so they take them to the doctor where they try to find antibiotics which the little dudes haven't developed resistance to themselves. dog eat dog, eh, dogg?
the stuff about silver in the vampire lore indicates that this knowledge is not new, just that now the really smart people are getting it. in these "myths", we also find that sunlight, garlic, holy water, wood (certain kinds?) are good against vampires, too! let's not sell our ignorant, superstitious, uneducated ancesters too short; they got us here, after all. we're doing so much better...
if we were to tell people who consisitently use anti-bacterial products in the home, even soap (!), that they might be breeding vampires, they'd probably think we were nuts!
these are, as you say, nano applications.
i think the lone ranger was good for kids. he had a horse named silver and silver bullets, and a mask, too: Hiyo, Silver, awaayyyy! his horse and tack were fabulous: http://www.google.com/imgres?imgurl=http://www.tvparty.com/bgifs7/lonerangerhead.jpg&imgrefurl=http://www.tvparty.com/50lone.html&h=360&w=480&sz=40&tbnid=Du2Djp4xbD9-bM:&tbnh=97&tbnw=129&prev=/images%3Fq%3Dlone%2Branger%2Bpics&zoom=1&q=lone+ranger+pics&hl=&usg=__Bq5KDwQ8TD3iGnX5mLFxtTE1f9U=&sa=X&ei=HtlRTdnyEZPQsAPympTuBg&ved=0CB4Q9QEwBA
here he is with tonto:http://www.google.com/imgres?imgurl=http://cdn.screenrant.com/wp-content/uploads/the-lone-ranger.jpg&imgrefurl=http://screenrant.com/lone-ranger-director-brusimm-7115/&h=654&w=500&sz=127&tbnid=px-LOYb-rhUFzM:&tbnh=257&tbnw=196&prev=/images%3Fq%3Dlone%2Branger%2Bpics&zoom=1&q=lone+ranger+pics&hl=&usg=__LDpNxfg526Xzg3gsbPsZ7rJDAA4=&sa=X&ei=HtlRTdnyEZPQsAPympTuBg&ved=0CBYQ9QEwAA
BANSTERZ R THE VAMPIRES NOW!!! let's get back to real money. like in our Constitution and earliest laws. good for everybody. well, almost...
WE'LL KILL THEM WITH OUR SILVER BULLETS!!!
ez tonto
Looking at the MA's, I see an over top head n shoulder between leg fake melt up slide going parabolic with a triple lindy.
we went to different schools together. i see you went back, too.
It was interesting 3 weeks ago listening to the shitheads like billy bastard and that JPM mole whatever his name was saying gold and silver were done. I just loved picking up cheap precious.
In fact we backed up the bus moreso than ever more.
BTW - LSE merging with TMX means something was wrong in denmark, maybe TD can get on it.
Just keep buying silver and gold and bankrupt these bastards.
Careful though, Armstrong is calling for 1100 gold so traders beware. I don't care cause we never sell. but just a thought.
50 buck silver and 2000 gold is my call this spring. Not sure though but really don't either cause 5 years of parabolic bubble of stupids awaits us.
It's hard to make predictions, especially about the future (Yogi). The Fed banks have lots of free money to short the PMs, but they still keep losing. They can make us nervous about buying miners on margin, but they are useful for creating nice buying dips after run ups. With QE2, 3, 4... in play, that pattern could continue for many months.
edit.....scuse.
.
Silver is real money.
The Patiot Act Provisions just got renewed til Dec of this year and the WH released a Statement that they would like a 3 YEAR EXTENTION!
btw anyone whatch this one on CSPAN Live??? I only heard one comment called in support of it on all 3 party lines ...
ps I got on air
SELF JUNKED congress failed to get 2/3!
Yea, I work in an emergency department. Every so often we get some fool in who drinks too much colloidal silver. His labs are all out of whack. One guy almost died. But when you tell them that too much is bad for them, they just look at you funny.
gh
Oh, damn. I put my Corona in the freezer to get it cold and it froze....
well, at least you won't hafta figure out howta open it...
++++ t.y.
....
Silver has done very well indeed. And a long as money gets printed, it will continue to do well.
time123
timer at http://invetrics.com
Weekly indicators still warn of significant Gold and Silver downside.
http://stockmarket618.wordpress.com
Good bounce in silver and gold, as predicted, before both pull back, by early March, to:
--Gold to $1225-$1260 range;
--Silver to $23-$25 range.
The long term bull is still on track, the pullback represents valuable consolidation, and, by end of 2011:
--Gold to $1500+;
--Silver to $38+
The question remains: are things generally so bad with the political/economic/social picture that one should stick to ONLY physical PMs and avoid paper PMs altogether?
gold =check
guns =check
god = coming soon
dumb= already there
The dip is now fully bought...... Silver now on a surge..... OK, I'm not going anywhere nor will I hold my breath for the $60 per oz. of 2011....... I'm pretty nurned out on watching as Ag. moves up a buck and DOWN 2 BUCKS....... Like I said, I'm not selling off nor am I expecting the jamie dimons and company along with gensler to allow Ag to do anything but take a step foward and 3 steps back with an occassional close like this last $30 hurrah happy days are here again ( until the next heart ache)