Silver closed yesterday at $32.79 - up about 80 cents (just over 2%). http://silverprice.org/silver-price-history.html Since silver hit it's low of $29.84 just over a week ago - it has risen 9.8%. I still personally think it has farther to drop (probably below the $29.84 recent low)...I think the economy is going into a recession or something very similar, sometime in the relatively near future and I think silver will drop when it does until QE3 or some other stimulus shoots it back up. But again...I am NO expert. BTW - Nouriel Roubini (one of the people who predicted the Great Recession) says a recession will happen. http://nourielroubini.blogspot.com/...ed:+NourielRoubiniBlog+(Nouriel+Roubini+Blog)
BTW - the U.S. dollar started weakening just as this little mini-boom in silver began. http://www.bloomberg.com/quote/DXY:IND
Silver closed out the week at $32.16 - up 49 cents. http://silverprice.org/silver-price-per-ounce.html Looks like silver used $32 as a base price this week - after using $30 as a base price the previous 2 weeks.
the only way silver can break 30 and stay there is if bad things start happening in the economy....ie Greek default or some other nasty event like that!
If you mean 'break' as in below $30 (which I assume you do)? Then I definitely agree with you. But I am still hoping it goes way below $30 so I can buy some more. Come on Greece...default..you know you cannot pay it all back...do the sane thing and start again. LOL. Actually, I do really think that is Greece's best option.
Yeah, $30 was the bottom the week before and last week we seemed to bottom at $31, with $32 looking like the new bottom. http://news.silverseek.com/SilverSeek/1318608331.php This article here is very bullish, as is the latest by Clive Maund. Since this site is subscription only I can't copy and paste his article from the 13th here, but put it this way - he's very bullish. Any drop from here on in will be minor and I for one cannot see that we go back down to $26 again (not that this price lasted long - only a few hours if I recall).
depends........if no QE is anounced soon then everything collapses....stocks, commodities, and yes even precious metals. But remember this.....if such a collapse happens then hedge funds will be in trouble again and many banks on life support now will be insolvent again along with many insurance compnies. This will cause another major crisis worse than in 2008. So I ask you.....what will Bernacke do? So you see.......this is why I am so certain no matter what eventually silver and gold "MUST" rise....the only question is will it risefrom here or will there be a crash first in all equities and later a rise....nobody has the answer to that unfortunately!
very possile...but I dont like to put price targets....all I know is that 5 years from now it will be much higher than it is now!
Somewhat intense two days for silver. It lost about 4% on Thursday and then gained it just about all back today. It closed for the week at $31.33 (up $1.05 for the day). http://silverprice.org/silver-price-history.html
And still precious metals wait for the governments to make up their mind what they are going to do. Or maybe more precisely, when and how much? My question is - will they wait for the economy to back track first...or will they try and pre-empt a recession/bank 'crisis'? For what little it is worth...I still think that silver will drop to at least mid-$20's before the printing presses are really fired up again. But I am NO expert...not even remotely close.
the longer they wait the bigger the stimulus has to be......if they wait until the collapse is underway as I said earlier then 1 trillion if not more will be needed.
Silver could easily drop to mid lower 20s. Will it, I don't know, will it be higher than what it is now in 5 years. Yea, I think so.
Silver (and gold) shot up today: Silver to $33.11 - up $1.46 (about 4.5%). http://silverprice.org/silver-price-history.html The strange thing was all the markets were down, the U.S. dollar index was up (a bit), and the economic news was pretty negative. All I can think of is either people are assuming QE3 is coming and/or some 'safe haven' buying. Any ideas?
Price is up to $33.65. The highest since late September. http://silverprice.org/silver-price-history.html
Silver is up 5.5% so far today (up $1.95 to $35.26). http://silverprice.org/silver-price-history.html Looks like the EU bailout is having the expected effects on silver. Oh, those wonderfully predictable Keynesians: spend, spend, spend...
I appreciate this thread, since I bought some silver years ago, knowing the economy would get bad and I could cash it in. So now I need to know: where can I get the best price for my gold and silver coins? I know they will increase in price a lot more later on, but I want to sell a few pieces now for some quick cash. I know a pawn shop isn't the way to go...
First, congrats on buying silver 'some years ago' - you have obviously done extremely well on this. I am not an expert on this as I have so far just bought silver/gold 'paper' (something I plan on changing fairly soon). But bacardi seems to REALLY know his stuff on this. And he seems to always be eager to help people with this kind of thing. He is usually around or you could try pm'ing him...I am quite sure he can help you.
