Hi Stackers
Yesterday I watched a vid on YouTube of someone who sold his core silver stack. I do not know exactly but assume he has over 500 ounces as he is posting so long already. In the forest of HODL and buyers this was a suddenly different vid!!
Instead of booing him as some did in the comments it is better to look at his reasons and check whether he has a point or not. I myself remember all too well never having investigated bitcoin although I heard of it several times in an early stage.
- So why did he sell ?
In brief : He could sell for a price he normally has to pay to dealers which is some 20 USD per ounce and he did not want to have a lot of silver in his house anymore due to turmoil etc.
- My view
The turmoil where I live is no argument but more important the signals I see are those of a great demand for physical silver that will rock the price in a few months. I did read another article in the financial papers about it today.
Silver
"Price goes from 18 to 26 per Ounce at the end of this year "
Several traders and bankers are cited and all agree they see an unprecedented demand for physical silver as we speak and when industries start ordering again the price must go up.
Others talk about the rumors about COMEX and the difficulties they have with delivering enough metals to back up the claims. Where gold already increased a lot the "poor mans gold" will follow soon now.
Right or wrong for me this is a reason to keep the silver which for me is an investment rather than my gold which I plan to keep for long time as wealth protection (hyper-inflation).
So I hear and see signals of a higher silver price and when we see 28 USD/Oz on the clock I will certainly sell.
see you
Goldrooster