Thread: Do any think silver will go to $100/oz in the near future

I've read that electronic needs and silver hoarding are the major factors behind our demand(supposedly 250 tons) exceeding the worlds yearly supply (around 230 tons) which will drive silver that high within 2 years. Any thoughts?

I sure hope not, there are a lot of coins I need to complete some sets, mostly silver coins, I'd hate to pay that high for some common date coins.

no. i dont think it will go to 50.00 either. both times in history when silver went to 50.00 it was because of manipulation. 80's is was the hunt bros. recently is was jpm got caught in a short squeeze, naked shorting more paper silver than physical existed.

http://www.proactiveinvestors.com/co...al--28075.html

Yeah I just read about the jpm one

Remember how the CME saved JPM last time. They raised margin requirements on silver, three times in 8 days. That killed the rally.

For what it's worth, the manager of the Van Eck Gold Fund was on Nightly Business Report on Friday and said he thought gold would test $1,900.00 by the end of the year and silver "might" find $40.00 again by the end of the year.

Of course, it's just 1 person's opinion and probably no better or worse than any other "expert's".

No.

Originally Posted by treehugger

For what it's worth, the manager of the Van Eck Gold Fund was on Nightly Business Report on Friday and said he thought gold would test $1,900.00 by the end of the year and silver "might" find $40.00 again by the end of the year.

Wow. When even gold fund managers are confident enough to speculate that gold is going to go up, what clearer signal could anyone need?

I am going to try to mirror what the central banks are doing which is loading up on the dips. Some say that silver will get as low as 20.. I don't believe it. If it gets any lower than it is now or around 25 or so central banks are going to make some major purchases. As soon as this happens supply goes down/demand goes up = price goes up.

Then I see the price of silver climbing up to the mid 30-s within the next 6 months to a year.

At this point Central banks will dump, flooding the market with silver and again bringing prices down.

I see this happening time and time again. So up and down up and down 20's - 30's. Possibly low 40's by next year.

Originally Posted by -jeffB

Wow. When even gold fund managers are confident enough to speculate that gold is going to go up, what clearer signal could anyone need?

Exactly. That's why I prefaced it with "for what it's worth." As I said, it's just 1 opinion among many. We'll know for sure in a few months. That is, unless the Mayans were correct.

There are many more uses for industrial silver than just electronics. With that said, longterm (10 years plus), I expect spot price silver to exceed the cost of food. So yes, silver will way beyond $100.00 during the life time of most of us. Just one person's opinion.

Much of my dollars into silver have been diverted from other usual expenses (like eating out, traveling, new shoes, gifts, kitchen remodel, new paint and windows on house, steak at home). This way, regardless of where the price goes, I do not feel too bad. I like a lot of the newer coins such as Wheat Ear Cents, and bulk JFK Clads, and plain ol nickels.

My dad thinks silver will continue to be volatile (drops below $15 possible).

Originally Posted by shealocal234

Do any think silver will go to $100/oz in the near future

Any thoughts?

Divide by 10 and you will have you're answer for where silver will go within the near future.

recently is was jpm got caught in a short squeeze, naked shorting more paper silver than physical existed.

Remember how the CME saved JPM last time. They raised margin requirements on silver, three times in 8 days. That killed the rally.

I think the 2 statements above are illogical in that the first blames JPM and silver futures for driving the price way up, and then the 2nd blames the futures exchange for raising the future margins and "killing" the rally.

It seems you are blaming the futures market for raising the price and then again blame them for lowering it back down

The margin rates are based on volatility as it concerns the price in the future. Sudden surges up in price, or down in price will increase the margin rates, as margins affect both the long side and the short side. If the price stays within a small range ( such as $3.00/oz range), the margins will come down. The margins can not be changed only for one side of the trade ( long or short).

And no, I do not expect the Price of silver to go that high.

IMO
Jim

in order for the US government to pay it's debt itll need to pay it back with less valuable dollars. When they print more dollars the price of gold goes up in terms of dollars. Also, it should go up even more than the dollar weakens because as the dollar weakens faith is lost in the dollar, the reserve currency. Gold and silver have a 6,000 year history as money and as fiat money is inflated people convert it to gold because gold as money cant be printed out of thin air. Silver has a monetary history as well, but it also has many industrial uses.

Personally, I think they'll both go way way up in the middle term and I think that silver will have more upside both middle and long-term.





As far as central banks buying silver, I've never heard of them doing so. I'm referring to actual, in your hands, physical silver. Why havent they? Because theres not enough! With the 'money' that central banks can print, theyd deplete the silver supply in the blink of an eye. If a nation did try to corner the silver market it'd lead to a major trading war if not an actual war. They are buying gold and theyre buying it in record amounts.

I dont know if the theory holds water, but historically gold and silver have typically been at about a 16:1 ratio. Currently, it's over 50 to 1. Most believe that both metals will go up at least in the mid to long term and they also believe that silver will go up a lot more and restore the historic ratio. Or gold could come down, but as I pointed out concerning paying off debt in diluted dollar value, gold should continue up.

And just because someone is involved in the gold or silver market doesn't mean they can't provide objective information. I come here quite a bit asking information about coins and their value and I think I get pretty objective points of view and in fact I think the opinions I get are actually more cynical than I'd expect from those not as steeped in numismatics as you guys.

Personally, I just hope the monopoly on the production of money is ended. I dont care if a guy wants to use manure as money or diamonds as money, so long as they can use what they want and dont have legal tender laws held over their heads. However, history has proven that when a market is left unmolested by ambitious kings and governments, they typically use gold and silver.