Silver Price.......Lots To Cover

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(Edited)

Evening everyone....

As you all know I’ve been pretty bogged down in the shop working long days. I usually have my music blaring, which keeps my going at a high pace.

But the last two days I’ve been listening to some podcasts from several people that I have been following for years now. The podcasts are about precious metals, NO i don’t listen to those maniacs that call for silver hitting $1,000 or gold hitting $50,000.

The two main ones I’ve been listening to are by subscription only. One is a retired global commodities trader from the UK, who primarily dealt with metals from aluminum to Platinum and everything in between. The other is a former mine owner and precious metals expert, he is based out of the US.

While there is no way anyone can be correct in predictions or insight on the precious metals market. Both of these gentlemen have an extremely high accuracy rate.

Most of the time they don’t just come right out and give straight up prediction, they give you scenarios. If this happens........then this is what’s most likely going to happen with the gold and silver prices. But if this happens.......

And they talk through all of the geopolitical, dollar, stock markets, economy and anything else that could affect the prices.

I needed to give you this background before I get into the several different scenarios that are currently playing out with the precious metals market.

There is no way I can go over all of this in one post, I don’t have that time to type this in length.

But today we are going to start with something, which I found to be very very interesting......

We are all aware of the affects this COVID-19 pandemic is having around the world.

Well.......

There is always someone or several someone’s looking to make a boatload of money from it.

What do I mean??????

Both of the podcasts went into great depth on precious metal mines. While there are hundreds of mines all over the world, there are really only about twelve companies that own 80% of the mines in use today.

The mining companies are all in it, looking for a massive payday. Most mines are closed and some are working at minimal capacity. Why? They say it’s because of the economy and lack of manufacturing. While that may have a tiny bit of truth.......

The actual reason is that mining companies have not been making a killing for many years now. The price of precious metals has been low for years, and the last time silver was over $20 an ounce fuel prices were nearly double what they are currently. Fuel is the primary expense of a mine.

So they all have been watching the demand for physical precious metals closely. And both analysts believe they are in cahoots (conspiring) on making a massive payday from it.

When the time is right, which they didn’t pin down or speculate on yet. The mines will all open back up, they will hit a few months of massive profits before the precious metals prices go back to normal.

They did also say that now is a good time to buy a few mining stocks. I don’t do the stock market so I forgot the three mining companies they said. But they did say in order to make money on them you can’t be greedy and hold till the very high or you might be too late. Because the prices with of them will drop like a rick quickly.

There’s so much more I could elaborate on with just this topic never mind the several others they discussed.

If you have any questions about this comment below and I’ll try to clarify.

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7 comments
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I don't want to do stocks or I'd be checking the prices too often, and lose even more sleep than I already do. Yea, avoid those Self professed PM Soothsayers claiming PMs are headed to the moon. I got my own list of rational thinkers on the subject that always build a realistic and solid case even if they are "Not financial Advisors"

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(Edited)

I took a beating during the .com bubble. I swore I’d never let it happen again. I probably will NEVER be rich, but my metals will never be worthless like stocks.
You’re a smart cookie Kerris I’m sure you have you ear to the grindstone.

Thanks for stopping by.👍

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So... will you be buying mining stocks, bestie? I am so conservative with my investments, and I do not have mining stocks. When will we stop stacking, bestie? I am seriously thinking... and has been going on for 2 years now.. about totally revamping my stacking goals. But who cares, right?
I've been super busy as well. Just trying my best to keep my blog going. Have a wonderful evening, and take care 🥰🌺🤙

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I own a couple miners. One in Nevada and one in Saskatchewan. If I had $$$ I'd buy FM. Also, I expect silver and gold to drop, likely 25% or so this fall. I'm notoriously bad at predictions, so... don't listen to me, lol. Cheers Bro!😎

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Well he's correct about not being too greedy @silverd510. The miners like Physical gold silver Run in cycles. I have a few miners, they are moving, but still off their highs. A very tough market ......

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I am glad to here the Miners have finally figured out how to break the COMEX price manipulation with their own brand of manipulation. I do not "invest" in mining shares, I trade the crap out of them because they are hugely volatile. That being said I have bought a few "lottery tickets" in a couple of junior mining companies.

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Good stuff D
I wish you had more time to really elaborate on what these guys said.

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