Silver is on the rise!

thanks for the info, very enlightening.

 

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It will be interesting what silver will do during the summer months. I thought that I heard or read somewhere that, traditionally speaking, the summertime is a weak period for PM's. If I am wrong on this, feel free to correct me on this.

 

true, this would prob equalize value with the supply and demand affected.

BTW, anyone know why silver is going up? This would help answer the question; should we buy or sell.

 

Oh in the year 2507?

 

What planet did this information come from? Imaginationland I'm sure...

 

Yeah, it was technical trading by traders. Same folks who briefly gave us
$140 a barrel oil. From the Kitco site today:

[-] Text [+]
NEW YORK, May 28 (Reuters) - SILVER * Silver futures, which are less liquid than gold, rose to a nine-month high above $15 an ounce, driven by strong investment buying - traders.
* July SIN9 finished up 29.50 cents, or 2 percent, at$15.160 an ounce.
* Ranged from $14.650 to $15.275, which marked the highest price since Aug. 14.
* Support from COMEX December call options activity and a technical breakout cited for silver's rally - Gero.
* COMEX estimated final volume at 23,312 lots.
* Spot silver <XAG=> was at $15.15 an ounce, up 2.9 percent from its previous finish.
* London silver fix <XAGFIX=> at $14.88 an ounce.
[end]

 

It's odd..silver is up around 30% in one month..but when I check the prices of Morgan dollars on the PCGS site..they haven't gone up..in some cases they've gone down...substantially.

Why is this? Well, it's basically the same situation in other fine collectibles whether it be art, rare cars or coins. People are risk-adverse right now.
They don't feel like forking out the cash..

I had a plan to trade in some of my non-collectible Peace and Morgan dollars for collectible Morgans.

After looking at the 10 year chart for silver, it looks like the direction may be up for awhile..I think I'll just hold on to the non-collectible silver dollars for awhile.

 

It's odd..silver is up around 30% in one month..but when I check the prices of Morgan dollars on the PCGS site..they haven't gone up..in some cases they've gone down...substantially.

Why is this? Well, it's basically the same situation in other fine collectibles whether it be art, rare cars or coins. People are risk-adverse right now.
They don't feel like forking out the cash..

I had a plan to trade in some of my non-collectible Peace and Morgan dollars for collectible Morgans.

After looking at the 10 year chart for silver, it looks like the direction may be up for awhile..I think I'll just hold on to the non-collectible silver dollars for awhile.

 

buy and clear the common, cheap modern commemorative silver dollars from every dealers that you knew. these were too cheap. check the latest braille silver dollar proof and unc. how much it is?. $41.95 for proof and $33.95 for unc. those common silver dollars were around $16.00 to $18.00 each.

 

Wake me up when gold gets to $3000..I can admire your optimism..but the
probability of this happening is quite small..

 

gold, platinum, palladium and silver shine today. dollar down to new recent low. stock market up. see gold touches $980.00.

 

I know that a week of gains does not necessarily make a trend, but the pace upwards is what I find most interesting. More than 2% yesterday and already today another 2%. Things are warming up! :eating:

 

:thumb: Silver poised for biggest monthly gain in 22 years :thumb:



By Moming Zhou
May 29, 2009 09:16:00 (ET)




NEW YORK (MarketWatch) -- Silver futures gained more than 2% Friday, heading for their biggest monthly gain in 22 years as inflation worries and hopes for an economic recovery boosted the metal. Gold rose to three-month highs as the dollar slipped.
Silver for July delivery, the most active contract, gained 33 cents, or 2.2%, to $15.49 an ounce on the Comex division of the New York Mercantile Exchange. The front-month June contract stood at $15.42 an ounce.
Meanwhile, gold for June delivery rose $13.40, or 1.4%, to $974.90 an ounce.
Silver gained 25% this month, the biggest since April 1987. The metal has many industrial uses but is also seen as a hedge against a weaker dollar and inflation. In contrast, gold, which has limited industrial uses, has gained less than 10% in the month.
"What you may now seeing is people think we are moving toward a recovery, and maybe we should be less pessimistic about the future of the metal, that may be factoring in the prices," said Jeffery Christian, managing director of New York-based precious metals consultancy CPM Group.
Silver, whose biggest single industrial use is in photography, is also used in medical applications and solar energy devices.
But CPM's Christian also pointed out that silver had declined sharply in the second half of last year, when the global economy was entering into a sharp downturn. Its prices had fallen more than the price of gold.
"Silver is playing catch-up to some extent," said Christian.
The silver investment market is traditionally more volatile than gold, because the market is smaller comparing with the gold market.
"The gold market is more participated, involved more money, and more liquid, and it tends to see lower volatility," said Christian. "In silver, you have few people with less money. It's a much more illiquid market and prices are always more volatile than gold."
In exchange-traded fund, iShares Silver Trust ETF (SLV, Trade ) has gained 33% this year, following their 40% decline in the second half of last year.

 

So true...it won't take much of a bump in demand to substantially move the price of silver......

 

silver to open tomorrow at over $16.00. what you think?.

 

I think it is very possible for that to happen. Silver closed at $15.79 on Friday (according to Kitco.com). We will have to see what happens Sunday evening at 6 P.M. (U.S. Eastern Time) when the gold and silver markets start to trade in Asia.

 

Down!

 

I stand corrected. Silver is falling further:

Silver down 0.12 to 15.67 as of 8:07 PM (U.S. Eastern Standard Time).