and this is exctly why I can't understand why people would doubt the rise in the price of gold and silver!
Silver closed out the week at $29.05/oz.. That's down $0.66 (roughly 2+%) for the week. http://silverprice.org/silver-price-history.html
Barring more central bank/government 'spending' - I see little to stop silver from falling much further in the coming weeks/months. But then, I m NO expert.
in order for silver to fall and stay down for any length of time then the whole economic system has to totally implode.......I mean total wipe out where many large banks all over the globe fail along with pension funds and insurance companies......personally I cant see any central bank in any G8 nation standing idly by and watching this so regardless of what silver and gold do in the short term ( under 6 months) the longer term trend is quite clear!
True. But there a LOT sweeter if you sell at $30/oz. and buy at about $20-22/oz. - which is where I think silver could end up before it bottoms out.
well yeah but remember that calling the exact bottom is very difficult plus even if it did go to 20 then most dealers will still be selling to you at around 22.....and at 30 will only be offering 28 to you if you sell ( the difference between bid and ask)....then there are the tax implications. Nope....for me buy and hold is a much safer bet! PS.....in 2008 I saw my holdings go from 21 dollars back down to 8 dollars...mind you most of my silver was purchased for 5 dollars more or less. And as you can see it came right back and then some
Where I buy/sell silver the difference is about 2%, not 10% on buy/sells. And the tax hit happens eventually anyway..as soon as the Fed starts to noticeably raise rates...I'm out of gold/silver probably. But I agree that calling the bottom is almost impossible. And I am NO EXPERT.
I am an expert , but have got it hopelessly wrong the last two months and would be embarrassed to tell you my end of year forecast -- along with the vast bulk of other smart geezers !!. Despite this , I commend the report below which crossed my desk over a week ago and has been followed by several other similar ones . I am buying even more -- was lucky to find an unexpected $20k -- and will be buying this week . It doesn't really matter if you don't get the very best price ( bottom in this case). You might miss the absolute bottom by anything up to 20&% but the upside is minimum at 100% . Last week, I told you about the scramble among investors for American Silver Eagles. These coins, minted by the U.S. government, contain exactly one troy ounce of 99.9% pure silver. Twice between 2008 and 2009 the U.S. mint had to suspend sales... and demand has almost doubled since then. All-in-all, in the past five years, demand for Silver Eagles has grown 31% annually. Roughly 40 million of these coins will be snapped up this year alone. Meanwhile, silver has been in one of the biggest bull markets of the decade. During a roller coaster period for the broader market, silver has seen gains in eight of the past 10 calendar years. So how high will silver go? To be honest, trying to nail down a specific target number is tough to do. In this case, I think it's best to simply look at what could happen... and why. That's where things get interesting. In 1980, silver spiked to about $143 per ounce in today's dollars -- roughly $110 dollars, or 393% higher, than today's price. But things were different then. Back when silver peaked in 1980, it was primarily due to a few investors snapping up as much silver as they could. Thirty years later, the silver story has changed. That's because silver is needed in just about every electronic device modern society runs on -- from TVs to computers to cameras to MP3 players to iPads... and that's on top of millions of investors snapping up silver as a hedge against uncertainty. Meanwhile, silver consumption keeps climbing. About 70% of the world's annual silver output is gobbled up by industry. This percentage is rising every year, and once that silver is used, it's rarely recovered. Since 1999, consumption in electronics has increased 120%. And many new products contain such small amounts of silver that they're not worth recapturing. More than half of all silver in TVs and computers ends up in landfills. And it's not just U.S. consumers that need more silver. Developing countries such as China and India are using it by the truckload. After all, it takes a lot of silver to equip 2.5 billion people with cell phones. That's why China's silver imports increased four-fold last year. In fact, in 2005, the Chinese exported 100 million ounces of silver. But by 2010, they were importing 120 million ounces. The basic problem is that we simply use more silver than we mine. Every day, the world takes roughly 1.75 million ounces of silver from the earth. But we consume more than 2 million ounces. This kind of consumption is quickly drying up our dwindling silver reserves. In 1900, there were 12 billion ounces of above-ground silver on the planet. By 1990, we were down to 2.2 billion ounces. Today, we're down to about a billion ounces. That's a drop of 92%. A vital material, prized by man since the time of the Pharaohs, is literally disappearing before our eyes... used up in industrial products. It has taken 65 years to obliterate the silver inventory that it took the world 5,000 years to accumulate. It's a different story for gold though. Since 1950, the amount of gold above ground has surged from 1 billion to 7 billion ounces. Action to Take -->Yet despite these dynamics, silver remains dirt cheap relative to gold. Assuming you use recent prices ($29 per ounce for silver and $1,575 per ounce for gold), you can buy 54 ounces of silver for every one ounce of gold. Seeing as silver is only 17 times more abundant on Earth than gold, these numbers seem highly disproportional. No wonder investors seem to be snapping up all the silver coins the government can mint.
Wow! Lots of info raymondo - thanks very much. Btw, not that I doubt any of it, but do you have a link or two so the rest of us can educate ourselves on all this vast info?
Silver is down $1.69 to $27.04 (it was down below $27 a few minutes ago). http://silverprice.org/silver-price-history.html And I bet you it is going to drop a LOT more before it turns around. DANG IT!!! I thought it was going to drop and I could have made a pile if I had just sold then...will I EVER get the courage to be a decent investor? Probably not. And, once again, I am NO EXPERT (obviously).
Silver is a great investment. In fact the mining corporations in the USA particularly NV where they pull over 85% of the US Silver. The mine corps are only taxed 5% plus a fee for license And the rest is profit. Great to invest in it. Plus it has great potential and room for price to grow. Plus it is sought after for manufacturing.
another large user of silver is silver soldering in plumbing and of course electronics and as Raymondo says its not worth recovering as its a very small amount!
Silver closed out the week at $27.78/oz.. That's down $1.27 (roughly 4+%) for the week. http://silverprice.org/silver-price-history.html
Silver is a awful short term buy. Diamons fluctuate more. But long term, Silver is a better buy than gold or platnum.
Silver 'closed' today at $29.62. Up $1.70 or about 5+%. http://silverprice.org/silver-price-history.html
Silver closed out the week at $28.72/oz.. That's up $0.58 (roughly 2%) for the week. http://silverprice.org/silver-price-history.html
David Morgan (head of Silver-Investor.com) on the Keiser Report from the 13:00 mark (though I strongly recommend the entire Keiser Report) is calling for $60 silver sometime during 2012...but with LOTS of volatility. [ame="http://www.youtube.com/watch?v=6ncIStw3iqQ"]Keiser Report: Spiral of debt towards the paranormal (E233) - YouTube[/ame]
Silver ended the main trading day (16:00 NYC local time) over $30/oz. for the first time since mid-December. Presently, it's up 35 cents to $30.24. http://silverprice.org/silver-price-history.html
Silver closed out the week at $29.72/oz.. That's up exactly a buck (about 3+%) for the week. http://silverprice.org/silver-price-history.html
