I last saw $11/oz for september projected spot price so why is it about to break $14/oz is it still expected to drop or is it going up to the "record prices" ppl are talking about?
silver is the new gold. I expect the cost to continue to rise, and perhaps by end of year, we may be looking at close to $20.00 per oz. Just my speculation though.
it's "expected" to go up or down or not do much of anything - it's all a matter of whose opinion you get.
As of Friday, I believe September silver futures were $13.875 compared to a spot price of $13.87. I don't know where the $11 comes from. Below is the same answer I gave to the same question in the Bullion Investing forum. But silver has been in a volitile uptrend for several years. Even with prices in the mid-teens, most silver mines seem to be running at or close to a loss, so over the longer term either the price will have to rise or the world will have to do without silver. It is also interesting that there are only about 1billion ounces of silver estimated to be above ground in the world. There are about 2billion ounces of gold. Normally, the commodity that is more scarce has a higher price. It's something to think about.
