SILVER is just getting a very bad rap here. Its utterly ridiculous. 1 oz of gold equaling 78 oz's of silver. I've never seen a spread in all my life, and I have been around a very long time. I really believe this is an all time record for the spread between the 2 precious metals. I keep hearing that one day Silver will break loose and catch up some to Gold, but Come On. Utter manipulation is happening. Silver is mined, and much of that silver is used up in industry. Gold continues to be mined, horded, and stored. While Looking at this spread it almost looks like Silver is no longer a precious metal. Makes me wonder what is transpiring here. Why is silver being held down? That is the 1 million dollar question.
The U.S. Dollar is getting utterly smashed down right now as well (currently trading down .59 at 91.29) Oil is over $60 a barrel. Last time oil was so high Silver was trading around $30 an oz. I will continue to hold my silver. I know this manipulation can't last forever. Something has to give.
So, I will patiently sit back and watch the manipulation take place, while I play with my bullion. Silver is truly the Real Deal. Real Money. Keep stacking fellow gold and silver stackers. A bit of advice for gold holders... Now would sure be a great time to sell some and buy into silver. She's a spring that is ready to force its way up from the ground.
Have a great day all. Cheers.
Article written by me, @crowe on steemit
(images from google imaging under the subjects: silver, gold, burning dollar)
Another way to look at it: In 1933, one $20 gold coin was worth twenty silver dollars. $20 = $20. (Keep in mind, a US Silver dollar contains about 3/4 oz. silver.) At 78:1 it is 78 silver dollars to one $20 gold coin. But don't expect a coin dealer to make this insane trade, in silver's favor
Strictly buying, Gold and Silver Eagles, retail, the ratio may be as good as about, 68:1.
@crowe Love that SILVER at this Level. Got to believe that 2018 will be a good UPside Year !
may be i reasteam your post dear
Sure. I would like that. Cheers.
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I would say hold gold if you can and just buy silver, it is crazy how they are smashing it.
I agree it’s at an all time low, and it just cannot continue, but when it breaks loose people will wish they bought into now.
If you have a look at the COT report, you see a massive short position on silver. Yes it's a timebomb waiting to happen. Just keep on stacking when you get a smack down.
The game is rigged, the price of silver will only go up when they want it to.
For me using EURO the USD is getting cheaper and cheaper.
There were rumours the Chinese would stop buying US State Debt.
You got it man! I'm with you 100% New follower of yours. I'll be around 👍
Yeah, I have been watching that. Platinum and gold have gone up, but silver keeps getting smashed. The banksters tried to dump some contracts on gold, but didn't have much effect.