Predictions for gold and silver prices?

I just looked and it’s up today. Another $.45 and it’s $60.00 an ounce.

 

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At this point, silver has basically doubled over the course of the year.

Say what you will about the dollar and its strength, but I'm glad groceries and electricity haven't gone up at the same rate. Cars and houses too, for that matter, even though I'm not currently in the market for either.

 

I think silver is up about 90% for the year. I can smile with my holdings on that one but I think it’s going to continue next year as well.

 

Yep…. Over sixty now

 

Go baby go

 

My Magic 8 Ball is broke'd. I'm not predicting anything, but I'm smiling.

 

Apparently I was "buying low" when I bought all that overpriced silver 10-15 years ago...

 

I hear that! I’m selling but only in my antique shop. And it’s selling so fast I can hardly keep it in stock. At least I get 100% of the proceeds. No premiums to pay to a dealer for the sake of getting some extra cash.

 

I know a guy who has a pawn shop and isn't anxious to sell any silver he gets his hands on. He wants to sit on it and wait, his planned retirement fund. That's an oddity for a pawn shop.

 

Hey, if the rest of his cash flow supports it, more power to him. But as long as he's getting a good margin, the more he sells, the more he can afford to buy.

I feel bad, though, for anyone who made the same decision in 2010/2011 and then tried to retire a few years later.

 

Me and you both!

 

To me it seems like silver is just starting to catch up to home prices, groceries and electric. I remember back around 2013 I said if silver ever gets below $30 again I'd be backing up the truck. That was a long time ago. $30 silver still in early 2025 given all that's happened between then (2013) and now, did not seem realistic anymore.
I was buying earlier this year. Made a trade two months ago at $50. Was a mistake but walked away with a big need. Bought a 100 gram bar as late as mid November at $50/oz.
Now you don't know where it could go. Every day's a new adventure. I don't know how a coin shop could handle this. You'd want a wait and see approach but it just keeps rising. Silvers going to be coming out of the woodwork of this country that hasn't seen the light of day in years.

Going to be more scammers coming out too. If people are willing to sell back of spot you'll never know if it's legit or a scam unless you've got a Sigma when it arrives. Apmex is selling 1 ozers $8-$10 over.

 

A shop that wants to buy and hold while prices are going up might not be in business for long.

A shop will always have to maintain enough of a spread to keep the lights on, but they also need to buy at prices strong enough to keep material flowing in, and sell at prices low enough to keep it flowing out. I'm glad it's not my job to do that juggling.

 

You can only eat just so much steak before you choke

 

And the older you get, the smaller that amount gets. The more I can afford steak, the less I can eat.

 

Made it to $64.72 before some profit taking. Now the wife wants to take a cruise. I just can’t seem to win

 

It sure is an oddity but I think with what’s taking place with silver it’s a good move.