Alright! Silver in AUD terms has now reached very close to the same low reached in August 2012. It's time to buy buy buy! Spot is currently 27.35 USD, or 26.12 AUD. BARGAIN!
I'm anticipating a rally within a month or so. Loaded up with Dec 13 40 Calls as well.
You know the paper price is completely off, you can't really buy physical at spot price, for example American Silver Eagles are $3.25 on top of spot (about a 11% premium) and Maple leafs are $2.49 (9% premium) on top of spot. Both in US dollars. Personally I trust nothing but physical, anything that's numbers on a computer isn't my cup of tea. Look up the prices on ebay and you'll see the same, nothing is quoted at spot. People are already paying premiums to be safe, don't be fooled by the paper price.
Which makes me wonder, what happens when Silver really starts to move? Spot prices are going to go through the roof. I won't be surprised with a 20% or higher premium.
I'm anticipating a rally within a month or so. Loaded up with Dec 13 40 Calls as well.
You know the paper price is completely off, you can't really buy physical at spot price, for example American Silver Eagles are $3.25 on top of spot (about a 11% premium) and Maple leafs are $2.49 (9% premium) on top of spot. Both in US dollars. Personally I trust nothing but physical, anything that's numbers on a computer isn't my cup of tea. Look up the prices on ebay and you'll see the same, nothing is quoted at spot. People are already paying premiums to be safe, don't be fooled by the paper price.
Which makes me wonder, what happens when Silver really starts to move? Spot prices are going to go through the roof. I won't be surprised with a 20% or higher premium.
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