Do any think silver will go to $100/oz in the near future

I've read that electronic needs and silver hoarding are the major factors behind our demand(supposedly 250 tons) exceeding the worlds yearly supply (around 230 tons) which will drive silver that high within 2 years. Any thoughts?

 

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I sure hope not, there are a lot of coins I need to complete some sets, mostly silver coins, I'd hate to pay that high for some common date coins.

 

no. i dont think it will go to 50.00 either. both times in history when silver went to 50.00 it was because of manipulation. 80's is was the hunt bros. recently is was jpm got caught in a short squeeze, naked shorting more paper silver than physical existed.

 

couldn't find the actual article I read the tonnage amount in but this one's similar

http://www.proactiveinvestors.com/c...lectric-metals-says-byron-capital--28075.html

 

Yeah I just read about the jpm one

 

Remember how the CME saved JPM last time. They raised margin requirements on silver, three times in 8 days. That killed the rally.

 

For what it's worth, the manager of the Van Eck Gold Fund was on Nightly Business Report on Friday and said he thought gold would test $1,900.00 by the end of the year and silver "might" find $40.00 again by the end of the year.

Of course, it's just 1 person's opinion and probably no better or worse than any other "expert's".

 

No.

 

Wow. When even gold fund managers are confident enough to speculate that gold is going to go up, what clearer signal could anyone need?

 

I am going to try to mirror what the central banks are doing which is loading up on the dips. Some say that silver will get as low as 20.. I don't believe it. If it gets any lower than it is now or around 25 or so central banks are going to make some major purchases. As soon as this happens supply goes down/demand goes up = price goes up.

Then I see the price of silver climbing up to the mid 30-s within the next 6 months to a year.

At this point Central banks will dump, flooding the market with silver and again bringing prices down.

I see this happening time and time again. So up and down up and down 20's - 30's. Possibly low 40's by next year.

 

Exactly. That's why I prefaced it with "for what it's worth." As I said, it's just 1 opinion among many. We'll know for sure in a few months. That is, unless the Mayans were correct.

 

There are many more uses for industrial silver than just electronics. With that said, longterm (10 years plus), I expect spot price silver to exceed the cost of food. So yes, silver will way beyond $100.00 during the life time of most of us. Just one person's opinion.

Much of my dollars into silver have been diverted from other usual expenses (like eating out, traveling, new shoes, gifts, kitchen remodel, new paint and windows on house, steak at home). This way, regardless of where the price goes, I do not feel too bad. I like a lot of the newer coins such as Wheat Ear Cents, and bulk JFK Clads, and plain ol nickels.

My dad thinks silver will continue to be volatile (drops below $15 possible).

 

Divide by 10 and you will have you're answer for where silver will go within the near future.

 

I think the 2 statements above are illogical in that the first blames JPM and silver futures for driving the price way up, and then the 2nd blames the futures exchange for raising the future margins and "killing" the rally.

It seems you are blaming the futures market for raising the price and then again blame them for lowering it back down

The margin rates are based on volatility as it concerns the price in the future. Sudden surges up in price, or down in price will increase the margin rates, as margins affect both the long side and the short side. If the price stays within a small range ( such as $3.00/oz range), the margins will come down. The margins can not be changed only for one side of the trade ( long or short).

And no, I do not expect the Price of silver to go that high.

IMO
Jim

 

in order for the US government to pay it's debt itll need to pay it back with less valuable dollars. When they print more dollars the price of gold goes up in terms of dollars. Also, it should go up even more than the dollar weakens because as the dollar weakens faith is lost in the dollar, the reserve currency. Gold and silver have a 6,000 year history as money and as fiat money is inflated people convert it to gold because gold as money cant be printed out of thin air. Silver has a monetary history as well, but it also has many industrial uses.

Personally, I think they'll both go way way up in the middle term and I think that silver will have more upside both middle and long-term.





As far as central banks buying silver, I've never heard of them doing so. I'm referring to actual, in your hands, physical silver. Why havent they? Because theres not enough! With the 'money' that central banks can print, theyd deplete the silver supply in the blink of an eye. If a nation did try to corner the silver market it'd lead to a major trading war if not an actual war. They are buying gold and theyre buying it in record amounts.

I dont know if the theory holds water, but historically gold and silver have typically been at about a 16:1 ratio. Currently, it's over 50 to 1. Most believe that both metals will go up at least in the mid to long term and they also believe that silver will go up a lot more and restore the historic ratio. Or gold could come down, but as I pointed out concerning paying off debt in diluted dollar value, gold should continue up.

And just because someone is involved in the gold or silver market doesn't mean they can't provide objective information. I come here quite a bit asking information about coins and their value and I think I get pretty objective points of view and in fact I think the opinions I get are actually more cynical than I'd expect from those not as steeped in numismatics as you guys.

Personally, I just hope the monopoly on the production of money is ended. I dont care if a guy wants to use manure as money or diamonds as money, so long as they can use what they want and dont have legal tender laws held over their heads. However, history has proven that when a market is left unmolested by ambitious kings and governments, they typically use gold and silver.

 

Silver will undoubtedly go up, but nowhere near $100/0z. Gold is unsustainably high--the 1500s are totally shocking to a lot of folks who would never have predicted that 5 years ago. So, there will be a crossover for sure--Gold way down, and Silver up.

 

[h=1]Fifty Years of Silver Manipulation[/h]
http://www.wealthwire.com/news/metals/3516

 

Will silver go to $100? Absolutely. Just like many never thought silver would go to $1 an ounce, inflation will eventually make silver $100 an ounce, $1000 an ounce, $10,000 an ounce.

Question is when, and what will the RELATIVE worth of silver versus everything else be? Yes, $100 an ounce sounds high versus TODAY'S dollar, but is $100 an ounce silver very good if a house costs $2 million and a loaf of bread cost $30?

Btw OP, you said it yourself hoarding were major "uses" of silver. Is that really a "use" or simply additional inventory that can be sold when investors find something more exciting to invest in?

 

My research (proprietary, so I can't share it) shows that by July 31, 2012, silver will exceed $165.00 per oz. and gold will exceed $3,750.00 per oz.

Stock up!

 

It's a use insofar as an option for protecting your wealth. If the current regime is diluting fiat money, then (and always imo) it's a good idea to save gold and silver. Just like one might save dollars, you need an accumulation of wealth in order to not only HELP secure your future, but also in order to create additional wealth. You can't create more wealth if you don't accumulate wealth, ie defer present consumption.

Nowadays thats a foreign concept. It's especially made foreign because people observe what the government and federal reserve does, which is to bypass the saving process and simply print 'money'. But this printing of money simply takes from the value of the dollars that are currently held, so it's not that the fed creates wealth by producing desired goods and services and then securing those profits for further production, rather it is by taking wealth from usl. This diminishes the power of each individual to determine his own destiny. It encourages consumption and it discourages innovation because as time goes by, it becomes more and more necessary to pool your dollars with wherever the fed and the politicians want it to go, ie bubbles. However, those friends and lobbyists that receive these new dollars first, will get pre-inflationary goods and services. After they've bid things up, then those receiving dollars lastly will have a higher cost of living/doing business.

Ever wonder why the fed doesnt simply increase everyone's dollars 2 fold, 10 fold or 100 fold? Afterall, wouldnt it help the economy if my net wealth increased 100 times? They dont do it because they know that adding paper or keying in additional numbers doesn't create wealth, it just means more dollars chasing fewer goods. So in order to avoid making it obvious that printing more money doesn't create more wealth, like they say it does, they confuse the process and make it sound scientific by using a bunch of financial mumbo jumbo, jive talk. As these monopolists and their protectors, the US government, aggrandize more wealth and power, they introduce more and more inefficiency into the markets.

Prices are there for a reason. They provide us with information. They help the entrepreneur calculate the most efficient (profitable) use of resources. When you can print money out of thin air, there's no need for efficiency. The amount of work that goes into keying a trillion dollars into a computer is next to nothing, yet it can have power over millions of people's labor and resources. Also, not only does the minuscule cost of money production tend to encourage inefficient activity, but those that are exercise such an immense power can't possibly comprehend the wants of society. One man or even a million men can't possibly know what each person wants. The most efficient way to create wealth is to harness the nature of man for the betterment of others.

Man is self-interested. Above all, he cares most about himself. You think that you care more about your children than yourself? Let's say there's a ****. An everlasting, burning, horrific ****. Let's say your child has been damned to **** and you've been invited to heaven. Would you take your child's place in ****? You might try it out, but once your in ****, I can guarantee you that no matter how much you love that child, if you were given the option, you'd come right back out of there while they dump your child back into the fiery pit.

And what about my care for others? Right now I'm sitting on my couch typing and watching tv. I'm thinking about what dvd I'm going to watch next. In the mean time, there's millions of people around the globe in dire need. There are charities set up that can assuage these circumstances, and I know this. Yet I sit here and prioritize my movies over the life of starving children. I do give $35/mth to world vision. I 'adopted' an 11 yr old girl name Oumma. I encourage you to give to those most in need as well. Yet, theres a lot more that I could do.

Now imagine harnessing such a force, a force like man's self-interest. Like the old example of the pencil. A complex arrangement of self-interested actors organically organize their self-interests in the production of the pencil. No one individual cares that much about a pencil. Many involved in the process don't even realize that they're contributing to the production of a pencil. Many know and don't care. All they want is to enrich themselves and that desire prompts many of us to do things for 40-80 hrs/wk that we'd rather not do. You can't sidetrack this bureaucrats or bankers. And this powerful market doesn't somehow stop at the production of money. Money produced in the course of self-interest is the way to go, not creating a monopoly of money production. Gold and silver is that free-market money but it has been repressed by those money monopolists and their thuggy gang of protectors, the government.

Personally, I not only hold gold and silver in the hopes that I'll get more wealth or in the hopes that I'll protect myself in case of a monetary regime change or volatility, I hold it because I hate the monopoly of money. I hold it because I wish others would do the same. I have my limits. I'm not going to just hold that and not hold federal reserve notes. I have to pay my taxes on FRNs and most people are going to demand FRNs in transactions. But I will sacrifice a fair amount, which means that I plan to hold it and keep buying even if it turns way south, but I have my limits. Gold and silver aren't my highest priorities. I don't mean to judge anyone, but I do wish people would tend to favor investing in things that tend to give society more freedom. But it's a personal call. Just like me donating $35/mth to Oumma instead of $70/mth. Or me buying some dvd's instead of feeding another hungry mouth.

Long live free-market MONEY!

BTW, in all seriousness, even if you think gold and silver bugs are a pathetic bunch, I truly encourage you to hold at least 10% of your wealth in gold. I also suggest you add to that food, water, etc. I think it's very important to always be prepared for societal volatility. If the economy crashes and most your wealth is in paper or dollar denominated investments, gold is a good insurance plan. Usually, if the paper used by a society fails, gold will act as money and it's value will go way up, restoring your lost wealth. Nothing is fool-proof. We're all going to die, but even the most pro-paper, anti-gold financial planners to begrudgingly mention having 10% in gold as an insurance policy. But remember, it's insurance, so if the price goes down, it doesn't matter. It's only there in case the paper economy collapses. Also, gold has an advantage over real estate and other hard assets. If there's a breakdown in society, you can easily hide or transport gold, whereas things like houses or land can be easily taken. This isn't weirdo talk. Remember, it's just insurance against bad things. We never imagine getting cancer. Societies never imagined being ravaged by war. Gold and silver have a place when it comes to insurance or self-made safety nets.