Yesterday it was staying around $46.75 an ounce, then I woke up this morning to ~$46.25 before it went back up. I'm thinking it'll be $48 in the next few days, possibly hitting $50 early next week. What are your predictions?
I think the trend is more important than a particular date when it hits a particular price. Traditionally, when silver moves, it is LATE in the game of a multi-year PM run. Is this the case again -- THAT'S the question we need to answer !!
Yesterday it was up and today it is down. That’s what the PM’s do. They go up and down, down and up. Trying to time the market on anything is crazy. It will go up and it will break the $50.00 mark. I don’t care when, I only care about making the right, or should I say, the best decisions, I can make now.
That's a Delicate Delima if your not the ones that move the market needle. I've been considering turning some vintage silver bars back into the wild
I anticipated a dip/drop this weekend because China markets are closed for Golden Week national holiday. I expect that silver will get back on track Oct 9 when China returns to trading. $.02 FWIW
Looks like silver tripped right after my earlier post (sorry), with a 4% plunge, but it's regaining its footing:
As much as I don't like the platforms, I might have to get an Instascam and Fakebook account. That's going to require another cell phone number and burner email. I'll have to consult someone smarter than me to see if that's a workaround without having someone looking into pictures and information. Then find a collector/end user. I've been a caretaker of these bars for the last 20+ years so they won't be melted on my watch.
And sailing onward. Coinflation currently puts 90% minor coins at 34.99x FV. I know the very peak in 2011 was just a tad higher than this (in nominal dollars), but I don't remember seeing a 35x multiplier (and I was paying very close attention at the time). In 2011, the fall from this level was swift, and the price kept dropping for years.
That was CLEARLY a bubble punctuated by a spike caused by the EU Debt Crisis. We are in a new supercycle for PMs (or at least gold/silver). I expect it to be a slow steady grind, not a galloping run. When gold goes up $300 in a day, we're in the 9th inning.
I put another $1000 in SLV on that dip. If it went down another dollar I’d buy $2000 more For two years I’ve been saying silver is spring loaded. Now we’re 4 years into an increasing worldwide silver deficit Supply vs demand boys & girls
Maybe...but are there INSTITUTIONAL buyers at the end of the road ? If not, then supply could come from existing FID projects....recycled silver...sellers who come out of the woodwork. This is an unpredictable variable, so I'm not claiming I am right. I am saying that higher prices sometimes are the solution to "higher prices" and without a bid UNDERNEATH as you have with gold, you might not have the move many are forecasting. We might....I'm just not sold. And I say that as someone with several hundred silver coins.
Refineries are already processing as much scrap as they can. They are backlogged with stockpile as dealers were selling to them all through silver @$30+.