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it was at 120 and now it's at 85. yes it's back to where it was a few weeks ago
by nofriend 9mo ago
it was at 120 and now it's at 85. yes it's back to where it was a few weeks ago
- deadbabe 9mo agoWhy do people say this… ok so you buy at 120 and now it’s back at 85, no big deal that’s the same as a few weeks ago!?
- chrisco255 9mo agoClearly very few people were buying at 120 which is why it fell back to 85. It's a highly volatile commodity. Commodities markets go through booms and busts all the time and you never even hear about most of them.
- eclipticplane 9mo agoMy bad. I placed a small buy at around $120, afterward it immediately tanked. Sorry folks!
- DoctorOetker 9mo agoFor clarity: that is sarcasm.
- kasey_junk 9mo agoYour point about commodities is broadly correct but that was a historic daily draw down in silver as well.
- edm0nd 9mo agoyes, that is correct. most people are long on silver and gold. who cares if there was a slight correction. I bought the bulk of my silver in the $20-30 range and am still buying. I bought on the way up, I bought at $120, I'll buy at $85. The price at the time I buy really doesnt matter to me. Only when I sell will it matter. I hope to cash out and buy ~150 acres of land with it to hunt on and live on.
- hirako2000 9mo agoWhich was my point. Unless someone is heavily leveraged or happen to have bought at the very peak, what matters is the rend, not intra day phenomenons. I don't mind getting down voted by leveraged traders who got liquidated. For disclosure I think gold/silver at this point is way overvalued, just the symptom of what this article is all about.
- deadbabe 9mo agoSo it can just go back to the price it was 8 months ago and stay there, there’s no reason for silver to be so high. The companies using it for industrial purposes get it straight raw from the mines they aren’t buying bullions on the silver markets.