Where is silver going?

Discussion in 'Bullion Investing' started by Lucky Cuss, Feb 12, 2014.

?

The price of silver is next going to...

Poll closed Feb 22, 2014.
  1. ...dip below $18

    12 vote(s)
    26.7%
  2. ...rise to over $22

    23 vote(s)
    51.1%
  3. ...take off and get back to at least $30 within the year

    10 vote(s)
    22.2%
  1. Lucky Cuss

    Lucky Cuss Cobrador de Plata

    For over three months now, silver has been rangebound, narrowly oscillating around a $20 price point. So what was a bearish chart well into 2013 has now gone flat. Yes, silver did rally in August, but has since subsided back to its lows reached earlier in the summer. So what are we looking at now? A bottom and thus perhaps a springboard? Or a mesa heading for the cliff?

    Vote certainly, but also feel free to give your rationale.
     
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  3. bkozak33

    bkozak33 Collector

    If I had to guess paper silver stays flat or goes down a bit.
    Physical silver stays flat, unless panic selling hits. There are a lot of people who
    Are over invested in physical pm. If aIll tried to sell at the same time, I think it could cause a huge sell off in physical
     
  4. Endeavor

    Endeavor Well-Known Member

    I don't see silver getting anywhere near the all time high ($49/oz +/-) from 2011 any time soon. I also don't think we will see any big spikes. Main reason being American brokers can no longer offer precious metals on leverage. With that said, it has had a healthy retracement and seems to have found support. My guess it will stay pretty flat. Any increase or decrease would be slow and gradual. Again this is just my guess.
     
  5. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    I'm anticipating a substantial change sometime in the future, but I don't want to reveal whether it will be up or down or when I expect this to occur. Why should I give away such information and hinder my chances to capitalize on it?

    Chris;)
     
    Rassi likes this.
  6. vdbpenny1995

    vdbpenny1995 Well-Known Member

    awww cmon, you're no fun :(
     
  7. Travlntiques

    Travlntiques Well-Known Member

    I'm in the flat-liners club as well. Bought most of my silver at $9 an ounce and sold most at $27 after it had peaked. Seems to me that with the economy getting better, rare coins might be a better investment.
     
  8. westcoasting

    westcoasting Active Member

    Since I want it to fall under $18, it's probably headed to $22... :p
     
  9. Revi

    Revi Mildly numismatic

    I think we are headed up for time being. Of course the time being may be a month or it may be 5 minutes...
     
  10. jello

    jello Not Expert★NormL®

    I have lived thru $1.06/1964 then t$60.00 ?1980's also the big drop. . Then the last big up to $50.00+
    22.00 today but one thing we do know is silver will drive you crazy for investment .
     
    lucyray and Gipper1985 like this.
  11. Lucky Cuss

    Lucky Cuss Cobrador de Plata

    At 12:40 EST, I'm seeing it at $20.36 with a high of $20.40 a little bit earlier this morning. That's been the best it's been over the last few days, too.
     
  12. AWORDCREATED

    AWORDCREATED Hardly Noticeable

    "Where is silver going?"

    Underground out back in 20 pound lots of quadruple vacuum sealed bags inside ammo tins.

    Is there a better place?
     
    lucyray likes this.
  13. rysherms

    rysherms Alpha Member

    i dont think your prediction will have much market effect...no offense
     
  14. wcoins

    wcoins GEM-ber

    To the moon...and back.
     
  15. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    I hope everyone thinks that!

    Chris
     
  16. Lucky Cuss

    Lucky Cuss Cobrador de Plata

    I guess since I started this, I ought to weigh in on how I see the current state of affairs. From a purely technical standpoint, the chart over the last 9 months or so looks like a bearish but ragged "head and shoulders" top, but this is following a long decline, so I don't think that's a very good indicator at this point. There does seem to be support above $19, but if it broke through that floor, I'd say it'll be a case of "look out below!" On the other hand, it seems to me like it'd have to jump decisively above $24 to sustain any upward momentum. The real question is what data tipping point or external geopolitical/economic event could nudge this market in one direction or the other, and whose crystal ball is clear enough to say what that might be?

    In short, I don't have a good sense on this right now, and can admit it.
     
  17. medoraman

    medoraman Supporter! Supporter

    Well, that is a rarity for the pm board! :)

    I have no idea on direction either. I would be probably buying a little more right now if I weren't buying a new house, but not going crazy. To me, at these prices, its a "buy what makes you happy and you like to collect" price range, neither "OMG buy every ounce you can lay your hands on" nor "sit back and wait the prices will be half in a year or so" price range.
     
  18. rysherms

    rysherms Alpha Member


    Its not just that your opinion doesn't have influence on the overall market. the larger factor is your limited purchasing power and/or market share being so small. its kind of weird that you present your half prediction as some protected prophecy. i think if you had any real market comprehension you would post your actual guess, and i do mean guess, so that in a month, 6 months, a year, etc, others would be able to see how little you know, and in turn, learn the bigger lesson....which is to take anybadvice/prediction with a grain of salt.

    Again, its not meant as an insult, its just so silly to post what you did.
     
  19. Nuglet

    Nuglet Active Member

    I'm pretty sure he was joking around.
     
    RaceBannon and bkozak33 like this.
  20. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Forgive me if I say that your sarcasm is underwhelming.

    Chris
     
  21. jolumoga

    jolumoga Active Member

    I guess I am in the minority, along with Peter Schiff, in believing that gold and silver will blast off. With all of the printed money by the Fed, all that is needed is a tiny fraction to hit PMs. Currently, the global financial situation is looking pathetic. America's population is aging and its debts are rising exponentially. This is the perfect recipe for a dollar devaluation within the next few years. Within the next 12 months, I have no idea where PMs will be, but I think they are at or close to a bottom.
     
    lucyray likes this.
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