silver just crossed $26 an ounce

$26.01 ... 3pm 11/4/2010 ...

up $1.14 in one day

holy cow

 

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I don't think thats it for the year. Silver could very well be $35.00 oz before 2011 rings in .

 

OMG this is seriously the first signs of Hyperinflation.

I have been doing the smart thing, investing all my money in CU, AG & AU.
A lot of people save their money in the bank, bad idea as if hyperinflation becomes reality you will loose everything.

 

Impressive. Still there will be profit-taking later. I will buy then.

I was tempted to invest big $$ in GLD, SLV or GDXJ yesterday before market closing. If you wait for confirmation it is usually too late....

 

Yep... the smart people will definitely get rid of paper and buy good old gold or silver...

 

I actually had some junk silver on ebay that I took down, I think i'll hold onto it a little longer.

 

Crazy! The stock market also had some impressive gains today as well.

 

Maybe that is where some of that QE money went (the stock market); because I doubt it is going into gold - but that would not surprise me either.

 

The amazing thing I found is that all three of Kitco's technical analysis "resistance" levels were broken today--gold, silver and platinum:

http://www.kitco.com/reports/template_jimw.htm

I don't know if this is a record, but it is certainly unusual. It will be interesting to see where we are tomorrow on the technical analysis.

 

I am going to stick with my $25/ounce silver prediction for opening day of market on 1/3/2011 that I made back on 7/4/2010. :smile TC

 

I know that the year is not over yet and a lot could still happen but it appears that my prediction of silver finishing at $23 (or higher) on December 31, 2010 will possibly come true.

 

UP ~ UP ~ UP for silver, more to come ! I hope the experts are right about $50 to $80 per ounce.

 

what experts?

 

If silver reaches $50-80 how do you think the the premium (over melt) would change?

Just to pick a coin- I looked at common mercury dimes, Red book lists most dimes from the 30's for $2.50 if graded VF-20. This was printed at a time where the melt value was probably around $18 and a single dime was about $1.30. This gives a premium of $1.20 or 90% above melt.

If silver reaches $50 that puts a single dime at a melt value of $3.60. Do you think the premium would stay at $1.20 and they would cost $4.80, would it stay at 90% and a dime would then cost $6.80, or something else?

 

well, I think I'd start to invest in copper and iron in that case.

 

If silver were to hit $50 alot of common dimes would be melted. If it actually stayed that high for quite some time then I would say the mark up would probably be toward the lowere end of your range.

Lack

 

:smile HELLO ~ The experts on BLOOMBERG TV say $50 to $80 per OZ silver. They also say gold is a dog, there is no industrial use for gold. Silver on the other hand does have some industrial uses, silver has'nt seen the big gains that gold has seen yet.:devil: I just believe that silver has some room to go up in value, I'm not an expert ~ just a silver investor. :hail: Who really knows how high PM's will go I just like owning my .999 silver eagles !

 

Many so called "experts" miss the point on gold. Gold does not pretend to be an industrial metal at all -- it's another currency -- like the swiss franc or the euro. Except one that cannot be "devalued" by printing. So when nations devalue their currency, gold measured in value against that currency goes up.

In other words what gold really is ... is a measure of how much the dollar has devalued. So when you hear that gold has gone up 5% ... you should think of it as the dollar lost 5% of it's value.

Just to give you an idea of how much the US Dollar has devalued in the past 45 years ...

In 1965, the Average Cost of new house was $13,600.00 and Gold was $36 an oz.

In 2010, the Average Cost of new house is $232,880.00 and Gold is $1390 an oz

It's clear the dollar's value has fallen a tremendous amt.

People buy gold to protect themselves from the devaluation of paper currency (that can be printed as easily as newspaper)


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I own gold as well, I'm just saying that gold had its time in the spot light ~ now it might be SILVERS time to shine a little ! (lol)

 

maybe it could go up but it could also crash