What do yall make of this? https://longforecast.com/silver-price-today-forecast-2017-2018-2019-2020-2021-ounce-gram They have silver going down to about $10.75 in 2022 and its basically on a downward trend until them.
Dang... I better start selling all of my metal detected silver finds right away! I have about 300 grams of it!
Doesn't not have a lot of credibility when they say the price per ounce is up 0.49% today and the price per gram is up 1.92% today. Based on extrapolation of that kind of data I would suggest that silver will reach $1000 per milligram some time next year. Or should it be $0.10 per megatonne next year?
I think that's just a quantization error. The change was 9 cents per ounce, from $16.25 to $16.34, about half a percent; the actual change per gram was 0.29 cents, from 52.25 cents to 52.54 cents, rounded to "52 to 53". I have my doubts about the site's methodology, as it seems to include technical analysis, which I think of as "astrology minus the actual predictable astronomical cycles".
It last showed resistance at around $15. It's been between 16-17 for a while now. So a key point would be if it crosses below 15 and trends lower. I'm not bullish or bearish on silver, but I think it goes to $20 and not $10.
hm... I think I just thought of a great business plan. I can make precious metals price predictions based off astrology! "This year we have a super moon coupled with a complex planetary alignment. The energies on Spaceship Earth are super high. Silver will be going thru the roof!"
I'm guessing this is based on a simple algorithm on price trends? Keep in mind, the cost for the miners to produce silver. Once production costs outweigh the profits for miners, you'll see a lot of them shutting down operations. I can only speculate, but when the supply would go down, causing prices to rise.
I work in the wire and cable industry and we make lots of Silver Plated wire. As a result we get silver prices weekly and they've been pretty steady over the past couple of years, I can't see it taking a sudden downward trend without some underlying cause.
Hey guys, I wouldn't read too much into that. I think fuel prices would need to drop a bunch for Silver to hit $10
That website may use a simple mathematical model using a basic trending analysis on primarily historical trends, which should give results just like they give. Too bad PMs aren't basic on simple mathematical trends. Just looking at the oil price trend of going up 50% this next several months, their mathematical model clearly casts out market conditions in relation to supply and demand and the input of fracking, which now the Arab nations are now doing to open up new supplies of oil and gas .. thus increasing available reserves and creating more potential downward pricing pressures. I'd say .. find a better website for future forecasts.