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(CNBC)   Inedible, noncurrency metal reaches record high. What inflation?   (cnbc.com) divider line 20
    More: Scary, ETF, big and small, SPDR Gold Trust, inflation  
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2130 clicks; posted to Business » on 25 Apr 2011 at 9:58 AM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



20 Comments   (+0 »)
   

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2011-04-25 04:48:25 AM
Yeah, those silver prices are KILLING my side-business as a werewolf hunter.

Great-grandpa would be so disappointed in me... -_-
 
2011-04-25 05:03:02 AM
Hmmm....

I'm curious if I should sell my silver now or wait til it gets to $60. Will it get to $60?
 
2011-04-25 09:06:02 AM
Can I short sell this stuff? Anyone know of a mutual fund that is based on short selling commodities of all types? Because you could make a fortune on that in the near future.
 
2011-04-25 09:59:50 AM

IgG4: Can I short sell this stuff? Anyone know of a mutual fund that is based on short selling commodities of all types? Because you could make a fortune on that in the near future.


GLL for shorting gold. Not sure about silver.
 
2011-04-25 10:04:33 AM

IgG4: Can I short sell this stuff? Anyone know of a mutual fund that is based on short selling commodities of all types? Because you could make a fortune on that in the near future.


Well you could outright short the SLV.

Or you could buy ZSL.

Both ways offer you a chance to lose your shirt.
 
2011-04-25 10:05:29 AM

IgG4: Can I short sell this stuff? Anyone know of a mutual fund that is based on short selling commodities of all types? Because you could make a fortune on that in the near future.


http://www.etfsecurities.com/csl/short/etfs_silver_sh.asp

I googled that for you.
 
2011-04-25 10:08:48 AM

Cubansaltyballs: I'm curious if I should sell my silver now or wait til it gets to $60. Will it get to $60?


I doubt it, and if it does it will fall very quickly, there is lots of hoarded silver in this country as a result of the Hunt Brothers attempt to corner the market in 1979. People of my father's age have lots of silver in their safety deposit boxes and homes. I even have about 30lbs of sterling around my house and I acquired it all by accident.
 
2011-04-25 10:33:06 AM
So if we get a QE3, then all these commodities will continue to go up.

If we don't get a QE3, then everything will retrench for a few months then the Fed will panic and we'll get a QE3 anyway.

/Lots of valuable things are inedible.
 
2011-04-25 10:33:09 AM

Tom_Slick: I doubt it, and if it does it will fall very quickly, there is lots of hoarded silver in this country as a result of the Hunt Brothers attempt to corner the market in 1979. People of my father's age have lots of silver in their safety deposit boxes and homes. I even have about 30lbs of sterling around my house and I acquired it all by accident.


Good call. I'm going to toss what I have remaining on ebay.

I'll just list it for $50 an ounce. Buy it now.

I have really zero use for silver. In an apocalypse, I'll just shoot my neighbors and steal their food.
 
2011-04-25 10:43:16 AM

Larofeticus: So if we get a QE3, then all these commodities will continue to go up.

If we don't get a QE3, then everything will retrench for a few months then the Fed will panic and we'll get a QE3 anyway.

/Lots of valuable things are inedible.


True. You can't eat hand jobs.
 
2011-04-25 11:57:32 AM

Tom_Slick: Cubansaltyballs: I'm curious if I should sell my silver now or wait til it gets to $60. Will it get to $60?

I doubt it, and if it does it will fall very quickly, there is lots of hoarded silver in this country as a result of the Hunt Brothers attempt to corner the market in 1979. People of my father's age have lots of silver in their safety deposit boxes and homes. I even have about 30lbs of sterling around my house and I acquired it all by accident.


Yeah I mean just look at gold...when I bought in just shy of 300$ an ounce people were yelling for short sales...cause well GLENN BECK.

If those naysayers were right (probably more of an anti-Beck thing then sound financial theory influencing their opinion), I would never have had an opportunity to cash out at 1200$ an ounce.


I predict silver at $100 an ounce. Most of the silver is spoken for, I think the top 2 or 3 funds already own 60% of the silver out there. leaving 40% for everyone else.....and of that 40% how much of it is stashed away in some farkers dads sock drawer.....

Lack of supply and tons of demand is driving silver right now, inflation isn't so much of a factor as it is with gold prices.
 
2011-04-25 12:03:53 PM

HaywoodJablonski: IgG4: Can I short sell this stuff? Anyone know of a mutual fund that is based on short selling commodities of all types? Because you could make a fortune on that in the near future.

http://www.etfsecurities.com/csl/short/etfs_silver_sh.asp

I googled that for you.


JP Morgan has a huge short position on silver.

Be careful, if they lose their shirts on silver, the Fed will step in to bail them out.
 
2011-04-25 12:05:50 PM

Captain Steroid: Yeah, those silver prices are KILLING my side-business as a werewolf hunter.

Great-grandpa would be so disappointed in me... -_-



Blades don't need reloading. Good hunting.
 
2011-04-25 01:16:06 PM

Cubansaltyballs: Tom_Slick: I doubt it, and if it does it will fall very quickly, there is lots of hoarded silver in this country as a result of the Hunt Brothers attempt to corner the market in 1979. People of my father's age have lots of silver in their safety deposit boxes and homes. I even have about 30lbs of sterling around my house and I acquired it all by accident.

Good call. I'm going to toss what I have remaining on ebay.

I'll just list it for $50 an ounce. Buy it now.

I have really zero use for silver. In an apocalypse, I'll just shoot my neighbors and steal their food.


Have you seen ebay latelly? $50/oz would be cheap for an oz. You might get a lot of takers. Unless you do like some and charge a high shipping rate.
 
2011-04-25 01:35:22 PM

AMonkey'sUncle: $50/oz would be cheap for an oz.


Yes. It'd be a $3 premium. Or a .15 cent premium, if you look at the overnight spike. Not even worth parting with, unless you were trying to part with several hundred ounces at once.
 
2011-04-25 01:51:19 PM
Non-currency metals are just racist!
 
2011-04-25 02:33:08 PM

Giltric: Lack of supply and tons of demand is driving silver right now, inflation isn't so much of a factor as it is with gold prices.


Silver is the apocalypse hedge for the poor man.
 
2011-04-25 03:51:54 PM

AMonkey'sUncle: Have you seen ebay latelly? $50/oz would be cheap for an oz. You might get a lot of takers. Unless you do like some and charge a high shipping rate.


I'd still be making $40 an ounce profit, or so.
 
2011-04-26 12:59:40 AM
"Noncurrency metal"? I guess it depends how you define it. XAU, XAG, XPT, and XPD are recognized currency codes according to ISO 4217 (new window).

As for the "inedible" part, gold and silver are both recognized food additives with a European "E-number" - E175 and E174 respectively.
 
2011-04-26 09:59:52 PM
Been buying silver since $8/oz, gold since $660/oz.

Not stopping, buying on every dip.

Will hold till I die and then pass down to my grandkids.

DYNASTY, biatchES!!!
 
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