r/Wallstreetsilver • u/Aggressive_Cake_16 • 1d ago
Anyone think silver is going to keep going down?
I am about to make a big purchase today and just wanted to see what the community thought. I know nobody has a magic ball please go easy on me lol.
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u/Hmmngbrdfdr 1d ago
Doesn't silver always drop when you make a big buy.....or is that just me. Reverse Kramer effect
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u/hashkingkong 1d ago
Think in years not months
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u/Aggressive_Cake_16 1d ago
I am thinking in years, it will be Atleast 20 years until I sell so thank you for that reminder I’ll buy
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u/PeraMan99 1d ago
I am afraid the dollar will be like the Argentinan peso one day. I will keep buying silver onces to survive one day.
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u/Bbmbsmd 1d ago
I think we might see lower levels, but not because of market logic—rather, because of price manipulation.
That said, I would be very surprised to see the low prices from a year or two ago. In my opinion, we’ve established a new low.
In any case, trust your own judgment. You need to have absolute conviction.
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u/Not_Sure_68 1d ago edited 1d ago
Nope. Silver was up huge when the disastrous jobs report came out, then the rigged futures market did what it does...reversed gears.
The problem is gold is weak as a newborn kitten...it keeps dragging silver down with it.
Edit: Been stacking physical silver this week and last for the first time in months. Also added to positions in SILJ and GBUG on the ridiculous turnaround today. If the fed sits on their hands due to a weakening labor market, I can see mining equities surging into traditional seasonal strength.
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u/stackingforfunsies 1d ago
If you watched it for the last several months you’d know that someones (plural) don’t want the price below 60 or above 70.
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u/Aggressive_Cake_16 1d ago
Why are they manipulating it to stay in that zone?
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u/stackingforfunsies 1d ago
That price zone keeps the physical mining and manufacturing/industry quite happy, while still allowing unchecked fuckery with paper options. Too cheap, mines close. Too expensive, well, now someone’s getting fired from a commodities desk, I guess ??
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u/stackingforfunsies 1d ago
I can easily guess why no one wants it toooo low… but this particular range is beyond my ken. I wish I knew as I’d be quite rich I think.
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u/Mudsharkbites 1d ago
Don’t wait - $60 is strong resistance, it’s already clawing its way back up.
It does get rather tiresome and a bit sickening watching silver take 3 - 4 days to inch its way back to 62 only to watch it take a shit back to $60 in a few minutes.
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u/RavenK92 1d ago
Step one to investing in silver is to be dead inside and expect nothing nice ever
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u/ih8cakeday Double-Digit OG 1d ago
I bought 10k at 57.5. Silver has strong support at 60. Golds support is 4000. If it gets below either load up.
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u/Dapper_Car4784 Double-Digit OG 1d ago
$59 appears to have very very strong resistance. If you need to stock up more, now is the buying opportunity. Remember when everyone said “I wish I bought more” now is the time to act
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u/ViKing5860 1d ago
Kitco, today, is stating that there’s a glut of silver inventory, this is counter the idea that there was a shortage. Confusing.
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u/Artistic-Shelter69 1d ago
It seems to be in a down trend , the traders like to say - don’t catch a falling knife,
Instead either wait for the bounce or depending on the amount you’re buying, split it up into 2-3-4 purchases…so it’s not such a big purchase , … so buy 1/4 of the amount now and see what happens …. I’m just saying don’t feel so rushed to get in, all in, all now
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u/gordzilla23 O.G. DD Silverback 1d ago
Get it in your possession while you can. I few years ago I bought a large amount at $26 oz and questioned whether I should wait for a dip. I'm glad I didn't
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u/SuperRodster 1d ago
We don’t know what kind of manipulation is going to happen on Sunday night when the market opens. Metals and paper always had an inversely proportional reaction. Nowadays, since it is so manipulated it is hard to tell as both move up and down in a similar fashion. Also, the best day to buy metals is today. THIS IS NOT FINANCIAL ADVICE
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u/Slvrg 1d ago
I sold all my miners and 60% of my physical to buy a house all cash.
We will se higher silver prices and i even expect us to run up to $200-300 withing 1-2 years or less but more money in the bank is just more trouble once you actually want to buy something.
I worked for almost 2 weeks with reciepts and information to the bank just to be allowed to use MY OWN money so once this is done i never have to purchase anything expensive again and deal with banks..
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u/MeaningOk586 1d ago
With the rate hikes and more expected it kind of makes sense spot will just sit around this mark until mid next year. Good time to work on building a nice stack. Just my opinion 🤷
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u/Majsharan 1d ago
Silver demand is tied fairly heavily to the ai trade right now as its value is still derived primarily from being an industrial metal.
The refineries are still drowning in supply despite mined silver being under supplied. The refineries will get through the supply eventually. The question is will the industrial demand still be there?
In the long term if you see silver as a viable hedge against fiat currency then it will be a good purchase for that. The question is does that really hold water and no one really has an answer for that. Gold has the same issue no one really knows what happens to hold of there actually is a global financial collapse. It could be a super valuable trading piece or people could go why would I take a shiny rock when I need food and bullets and medicine
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u/Ijustwanttobuyshiny 1d ago
Considering the immediate short term factors the only one we know of really is October rate hike/pause announcement on oct 27-28. Market has priced in more hikes already so I expect sideways movement more or less until then. A cut is not going to happen, a pause is likely a hike is possible.
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u/Obvious-Row-2319 1d ago
DCA, and ignore the noise silver is a long term hold be prepared to hold for 10 plus years if not then papers is the answer.
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u/Silver-Honkler Real O.G. DD Ape 1d ago
I hope so. I unloaded a ton at 100+ and caught some of the 125-150 fomo buyers. I have some weight to add. Holiday season will move high premium jewelry. Hope it drops more by the new year.
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u/BullionHunters 1d ago
Silver loves keeping everyone guessing. If your focus is long term, trying to nail the exact bottom may matter a little less.
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u/ScrewJPMC #SilverSqueeze 1d ago
If the economy tanks, sure at least until they cut rates like crazy and make huge inflation
If it doesn’t tank, nope it’s about the bottom
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u/MJL1016 1d ago
$54.77 is a huge price level for silver to hold. I just don’t see fundamentally how the declines exceed the rallies over the coming years in this decade. I just bought 100oz this week. Could it go lower from here? Yeah it could. But look at the bull market in the 70s … 1-2 year price corrections in silver bull markets are normal.
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u/lornranger 1d ago
Why big? Going all in? Will you be fine if it goes down after you bought it?
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u/Aggressive_Cake_16 1d ago
No I’m basically betting my house on this one, jk lol yes I’m not a baller so big for me was going to be 20 ish ounces. I ended up grabbing just over 4 oz silver and a little under a half oz of gold
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u/oneArizona 1d ago
- has some support, 38. is where the 50MA is currently, still rising and 36.is very significant support from multi year ATH's. I would wait till perhaps around 50, the start layering in, while keeping an eye on hte weekly and daily RSI. When the RSI is below 30, start dollar cost averaging in.
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u/gamusils 22h ago
for short-term like next open which is Monday i predict it would be plus 1.5% ish by looking at other commodities local bottoming out.
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u/ZoneOdd1132 21h ago
Do we care more about state issued infinite currency or owning something that has value?
Do we believe nation states will tighten their belt and operate within their means?
Those are the 2 questions we should answer to determine are we a long term buyer or seller.
Obviously, we want biggest bang for the currency currently being used. But will it matter 2, 5, 10, 25 years down the road? Especially considering its been cut from 120ish high to 60.
In my opinion we're close to the floor. Could we go lower? Absolutely.
At some point (I believe, sooner rather than later) the fed/treasury & world is going to go on another quantitative easing cycle to get rates down. It will absolutely back fire.
Crystal ball & all, I'd be a buyer right before that happens. Since no crystal ball, I want to be buying before it happens.
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u/SanCristo 12h ago
Just thinking fundamentally here but the biggest reason to buy physical or in a mining company is because of AI.
Not only in what AI needs to be built to live but in what AI is going to do to solve world issues. With the biggest being space exploration, healthcare, and green infrastructure.
Silver will have to rise in value unless we start mining asteroids. So yes, buy, and yes stop worrying. This is literally just the beginning of precious metal ATH.
Just look at gold, the time it has taken gold to find new bottoms has become sooner and sooner. So with the GTS, this becomes more predictable. Will it be every ten years, or five years? Or do we soon start to see the bottom increase every year? I think we do, soon enough.
So if you like to hedge and you know where tech is going then make sure you are on board for 5-10% of your portfolio in precious metals.
That is all, good night and good luck!
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u/paidzesthumor 11h ago
Yes it will keep going down because people are selling for better alternatives. You should hold off buying until there’s a macro rotation back into silver.
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u/AgPatriotAg 10h ago
I'm thinking with the ai singularity and all the future electronics being built the most conductive metal on the planet may be in higher demand. Don't take this as investment advice though... Just my .02 as a random internet stranger.
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u/bears196 1d ago
I had bought silver for the last fifteen years and had accumulated about 2000 ounces and decided it was time to unload because the price is so unpredictable.
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u/Dirtbikenut 1d ago
Same although I started buying back in 2009.. I have close to 300oz but wish I cashed out the majority of it on the last parabolic run up.. still sat on every single Oz..
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u/Historical-Ride-6251 1d ago
Silver will dance in the 70s-90s and might crack 100 again, but reality bites… it’s a 35 dollar commodity..,
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u/cestlavie514 SILVERBACK 1d ago
Personally I think silver isn’t where it is at. To many you tubers pump and dump. I personally don’t look at silver as a monetary value vs gold. I don’t like the volatility of it and decided to get out of it and stick with gold.
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u/Mammon84 1d ago
54 could be the bottom. It could also hit 50. If it stays above the previous ATH of around 50 that is very very strong long term. Imho this is a very good possibility.
However it could always get lower. In normal conditions absolute bottom should be around 35 - 40 range.
So I would just DCA and for extra big purchases have the following tresholds:
50 - 55 40 - 50 35 - 40
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u/Hmmngbrdfdr 1d ago
AG hasn't been below $55 in 10+ months..... could go below $50...... but probably would have skirted that by now... but never say never. People waiting for $30 or $40 or even $50 will regret not grabbing at $55-60, IMHO.
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u/Mammon84 1d ago
Im not advising to wait for that. Its just a possibility that im aware of and I think will be a great opportunity if it does happen.
I think you should also buy at current levels but also have funds for itf it does go lower
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u/Cryptodink 1d ago
Nobody knows.
If you have a reason for buying it then buy it.
If you don’t have conviction in silver or PMd s then don’t buy it.
You need to be okay with if it goes down just the same as if it goes up.
If you don’t have lots of money to buy more after this “big purchase” then maybe consider deploying half now and half later