Got 2 mercurys 2 quarters and a walking half for 28 when silver was around bottom 29. Glad i went today if i would have went tommarrow would have cost 5 more
Right now the melt for a half, 2 quarters and 2 dimes is 25 dollars and something, between 29 and 30 it only changes the value by a few cents
I feel ya there. I made a substantial purchase a last week at around 27, was able to avoid any premium. Lets hope the price stays up for a little while, though I have a feeling we're headed quite a bit lower before we go much higher.
Silver broke $37 a few months ago before dropping again. I'm calling it as a small gain before it evens back out to about $28 for awhile.
<a href="http://cointrackers.com/silver-prices/" title="Silver Prices" target="_blank"><img src="http://cointrackers.com/img/30-silver.png" alt="Silver Prices" border="0"/></a>
Please consider that PM and other commodities, have not "broken" out so much as they are riding along. IMO, they have no factor for leading a surge. It is the Eur/USD ratio that is causing the effect since the commodities are valued in USD$. The USD$ is down some, possibly due to the expectation of QE3.Those buying instead of selling are taking on this risk factor. IMO. Jim
I think it will hover around $30 during October. During November it will rise to 35 and top out in December, due to the increased demand in India and other countries for jewelry for Christmas, as well as a rush in consumer spending for electronics and other items that need silver in production. Probably top out around $40-43. Next summer, it will probably be back at $30.
Your theory is flawed... silver jewelery and consumer goods are often produced well in advance of major holidays... they don't wait until December to start producing said items... so demand for silver wouldn't spike because of that... at least not in December. Production of those goods is probably gearing up right around now, most of that stuff will be in the stores/distribution systems by early Nov.
The Euro is only up 1.5% on the week, but silver is up 7%. It looks to me like this is more due to inflation expectations than the currency fluctuations. China just printed $36 billion worth. The ECB has stated they will provide loans to Spain and Italy as long as they take out ECB debt. The Troika is going to decide soon whether Greece will get another $42 billion worth. The Fed has all but promised QE3, just not precisely when, and ECB dollar swap lines from the Fed are currently at 4 year highs. The Euro, the Dollar, the Yuan, the Yen, the Pound, they are all being devalued to either buy sovereign debt or to keep any one currency from lagging too far behind. Gold is the true measure when currencies are in a race to the bottom. The dollar index could very well go up even as the dollar loses purchasing power, because it is measured against other devaluing currencies. Metals may yet go lower, but when all is said and done sound money will be what retains its value.
