Continue uprend for silver ($60.00) & gold ($1,023.00)?.

china & india will become the world financial powers and tops world number one and two spot. people there like silver and gold. thus silver and gold prices will gradually increase in value. some predicted $60.00 for silver and $1,023.00 for gold. a ratio of 17 to 1. i think it will. let's pretend it will. what will be the price of american eagle bullion silver coins?. maybe $80.00 each for unc. and much more for proof. well, i am not going to figure out other collectible coins. let's just have a nice sleeping and dreaming. o.k.

p.s. record high for silver is around $52.50 and gold $875.00. correct me if i make a mistake.

 

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i have a nice hord of mexican silver coins, big fat pesos.

if silver ever goes that high i will smile, then frown when i realize that a common date mercury dime will be like $10.

sigh.

 

I don't think gold is going to get to there....that is all a dream!!

Speedy

 

Prices in that range are inevitable. The only uncertainty is when it will happen. Don't get too excited. If/when gold is $1,000 per ounce and silver is $60, a cup of coffee will be $15 and a new mid-sized car will cost $100,000.

 

Hey, anchor

 

Silver is not a rare metal, but it is desirable. Same for gold to some extent. There are mines all over the world that are not in production because the price is too low to make it worthwhile. As the price increases the economics make opening these mines possible, and then the supply is increased.

Other random factors....silver is used in the photo industry, but that demand has tanked with digital technology. Chinese love gold (pure gold especially) so their demand as they become more affluent may affect price (I had heard that the US Mint might make a gold coin weighing one ounce, made of .999 pure gold and no alloy metal, largely for this market).

Any way, the prices metioned are rather absurd (unless, as someone mentioned, inflation makes the price increase due to a devalued dollar).

 

Its true that there are large quantities of known silver in the world that have yet to be exploited because of the depressed POS. However, there is also a severe shortage of above ground stocks currently. So, when the price of silver rises, mining companies will begin to bring new mines on-line. However, it will take between 10 and 15 years for these new mines to become fully operational. So, for that period of time, silver will skyrocket. As for the theory that industry is using less silver, it simply isn't the case. The industrial compumption of silver has been on the rise for the last 15 years. So, these prices may seem absurd to us today, but they may well come to pass.

 

But...for every action there is a reaction. If silver skyrockets, I'll bet lots of the demand dries up. Industry, for example, will find alternatives or new technologies.

 

BTW, I never said industry in general was using less or more silver. I merely gave some "random factors", not all factors. I am not sure what industry uses it but obvioulsy it does have industrial uses.

 

Silver is a pretty special material for industry. Silver halides have greater sensitivity to light than any known chemical. It conducts heat and electricity better than any other metal. It is the most reflective of all metals. It is the most ductile metal except for gold. It is very stable chemically. It has unique bacteriostatic properties. It resists corrosion. It is also very rare, even more rare than gold when you measure by above-ground stockpiles. And the list goes on and on. Yes, it is true that there are replacements for silver in various industrial uses, but at a cost in dollars and performance. No doubt the replacements will be used someday, but only after silver reaches a sustained higher price than today. Once the price of silver goes up, it is unlikely to go back down. Waiting for $4 silver to return makes about as much sense as waiting for the price of a mid-sized car to go back to $2,000.

So save those silver coins!

 

That's a good post CloudSweeper.

 

silver price

i believe silver can go up to $8.50 to $8.75 within days.

 

One good piece of advice I received long ago is that when making a prediction, it is okay to predict either the price, or the time, but never both. It increases your credibility and lessens the chance of being wrong.

 

silver price

silver hit a recent high of $7.50 per ounce..

 

The way I always viewed Asia, and I know little about Asia, as an area where gold was desired because local currency and political conditions were not very stable. That gold was viewed like an insurance policy, a policy that could be kept within families and passed onto heirs.

Now with that thought line if India and China continue their development and become the economic powers of the next century would they still desire gold as much when their own money is one of the top currencys. Something to consider I would think.

I for one like gold but I feel that it should never be more then 5 percent of anyones assets and should not be held in paper form but as an unlisted assest. Reminder thru, I am not the most versed person on this subject.

Speculators will disagree for I would think for them it is about the paper holdings moving up and down with the prices.

 

You are generally right on this advice, but remember a teenager has a life time to learn the correct manner of predicting events. One of these days he will discover the female sex and all this will be distant history.

 

I spent a number of years kicking around asia during the 60 & 70s. I did the standard 13 month tour in Vietnam, then spent some time in Thailand and later 3 years in Korea. In Thailand and Korea I began collecting gold items. It is true, they like solid gold in Asia, at least in Thailand and Korea. Unfortunately this makes their jewelry soft and easily damaged. When I finally returned to the US I brought nearly a pound of solid gold in rings and crosses back with me. I ended up selling it all as bullion and made very little on it by today's standards.

 

silver price

silver price hit a high of $7.51 today as previously reported as $7.50.

 

Hmmmm...yup...been about 2 months. Time for silver/gold going through the roof rhetoric to show up again as a "new" thread.

Keep this in mind. Gold is still worth only roughly 60% of its record high......30 years ago. $1 put into a 2% intrest savings account will have earned you more over the same 30 years.

 

Oh ye of little faith!