2011 GOLD high $1,500.00, SILVER high $24.00

I agree Gary. I too feel we will see silver on the move in 2011. I think even more so than gold. I recently remarked somewhere on threads to fools_gold that the same period you cited feb/march will be when we can probably expect to see another rise.

 

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My 2 cents

New finds in Gold & Silver mining is becoming very rare.so prices will continue to bounce around.plus Platinum & all metals in that family too.we have depleted all area known to be rich.now we must find a way to get more.
how rich is Rich??do we kill the planet to become rich More is the problem:devil:

 

Don't forget that even though gold is priced in USD, it is not completely determined by that. The USD index rose from 79.22 to 81.32 over the last week, but the Euro/dollar has dropped from 1.34 to 1.29, which indicates that the dollar grew stronger worldwide, but much because of the downward direction of the euro. IMO. Almost all commodities, since they are priced in dollars, have gone down in dollar price, but that doesn't change their scarcity value. But there is a difference between PM and necessary commodities.

The odd quirk to me is that many have wished for a stronger dollar, but I expect they wanted it without taking their PM down, which I do not expect to happen. Gold and silver has or is close to crossing below the 200 day moving average, and although that may not really mean anything, many investors ( not hoarders) see that as a signal to sell, and that should be something PM investors should watch. Fibonacci retracement levels are also getting hazardous. Again these values seem to be self-predicting because so many use them to decide on buying/selling.

Jim

 

That's a big problem. Technical analysis worked pretty well back when it wasn't respectable because so few used or understood or trusted it. Now there are many folks using software that spits out similar buy and sell signals, and there isn't much of an edge anymore. Technical analysis users used to watch the herd. Now they are the herd.

But gold and silver are in a major bull market, and I don't think the selling by speculators will be enough to end it. Something more will be needed [I hope!].

 

That is the real question, How much of the total value is held by speculators or funds driven by such indicators compared to the gold held by commercial firms that need the gold or hoarders that will hold almost to their demise. I also think that as some countries that do have gold but need USD as a indication of a more stable financial standing might start selling also if they feel speculation is being removed. Seems odd to say that after the last year or so, but I think many are feeling that the US by being so transparent, faced the problem quickest and (although it was in doubt a while), effectively. But this is purely a thought exercise as there are still so many factors , known and unknown, still ahead

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I might point out that the recvent downward slide might not only be attributed to profit taking but a movement from PM's to oil futures. we are seeing an upward pressure on oil and that seems to always creat shifting in the big money. Silver outperformed gold as shown by the title of the thread. Silver far passed the predicted $24 way back and Gold never truly came close to $1500. Again, the masses may drive Silver while the banks drive Gold and Oil. I forsee Silver doing better for me and am staying on that horse for now.

 

Major Ed Dames sees Gold @ $2000 by the end of 2011 and well beyond that in 2012, for what it's worth.

 

I missed this point before. Thanks. It is a very good one!

 

The predictions are for 2011 (this year), not 2010 (last year, when they were made).
Gold might approach $1500 this year. Who knows? But silver has already beat the prediction for this year.

 

These days, new silver is mainly a by-product of the mining of gold and base metals (copper, zinc, lead). So mines that produce exclusively silver are declining, but there is still considerable output of silver as a by-product of other mines.

 

I just had a thought this morning on the way to work. So hear me out...

If gold prices go up, but the USD has not changed, does that mean that the gold prices are up due to speculation?

Here's another, if gold prices go up, AND the USD goes up, what does that mean? Super speculation? LOL....

 

I really feel that this year should see some stabalization, but my point was that Silver has out performed Gold largely because of affordability. When items are priced beyond the average person's ability to buy, I don't see them increasing a lot. Especially when you must consider that PM's are discretionary purchases today. You can't take them to the supermarket or gas station. But since they are still good insurance against socialenomic woes, silver is "golden". I see the ratio dropping and think it will continue to do so. Although we may never see the 16:1, 64:1 is not likely either. IMHO

 

When the price is so much cheaper, it is a lot easier to outperform. So if silver were $1, and it went up to $3, one would say that it tripled gold!! If gold were at $2,000, wow, it would take a long time for it to double just to $4,000....that could take years!!!

It just may never happen that the mass will purchase PM's. We speak, not everyone, but in general as if the PM's will skyrocket when everyone starts to jump in, but that is an assumption we shouldn't make.

I suppose in a way, PM buyers are grouped casually with preppers. (people who hoard SPAM and water in case of end of days)

 

Let us continue investing in our positions of PMs and when the mass jumps on board, the supply of said PMs will be that much more previously accounted for in peoples holdings or at least further diminished, compounding the suddenness of a rise in price. The volatility of PMs can be quite shocking just how quickly it can spike, equally how quickly it can correct. The diligent and committed will not need to panic at either of those times but rather able to hold on and buy more when the mass leaves the sinking boat, hopping from one crisis to another but taking the wrong direction at each turn of events that are effectively playing them.

 

Currently (1:56 p.m.)
Gold: 1374.20
Silver: 28.99
Platinum: 1749.00
Palladium: 753.00
(Bid)
Anyone changing their predictions for the original post asking for average in 2011? I am thinking it all through and deciding if I want to change my "guess".

Happy Monday

 

No gut feeling predictions from me for gold and silver in 2011. My gut feeling has "retired" from the gold and silver prediction business.

 

Who knows what it's going to be. I was wrong back in August when I think we were around $1200'ish. And someone mentioned that we would be over $1350 by Xmas.

I found that hard to beleive because it took forever to get to $1250. But we did! We shot up past $1400.....even though we have simmered down since then.....

 

Nobody really knows were the price of gold and silver will go next. We are all just guessing. What a run that silver had in 2010. That was amazing to me.

 

I didn't think we would be seeing $30 silver so soon either. I thought I had more time to pick some up before the rush.....alas, by purchases at $16-17 is almost half what it's at now...so my buying power basically is half now.....more money to get half silver.....if only I was able to scrounge up enough back then.....

 

Last year, I was predicting that silver would finish at $23 or higher on December 31, 2010 but I was not expecting silver to finish above $30 on Dec. 31, 2010. When I made that 2010 gut feeling prediction I was going out on a limb on that prediction because spot in the $16-$17 range (ended up going as low as sub $15) when I made that prediction.