$500.00 will be a tough resistance point for gold. If it gets close many holders will take profit pushing the price down. Gold will not pass this point during 2005. Silver will find resistance at $10.00, again silver will not pass this point this year. If I'm wrong you can rake me over the coals.
So basically you are predicting that gold won't go up more than 5.25% and silver more than 28% over the next 80 days or so. That isn't much of a prediction.
I'd like to predict that silver will go down to $4 an ounce by next year but I just don't think that is going to happen....be great if it did though.
Silver may never even get a chance to test $10 but I suspect the biggest hurdle may be at ~$14. There was a lot of buying in this area back in '79 by long term bulls. Of course it's been so long now that a lot of these resistance points could fall like dominoes. I believe that eventually physical demand and consumption will push silver far higher or speculative demand will do it first. This could be so far in the future that it's of little value now.
NOS I think it could and would happen over night---but what will happen first is silver will go up a little....maybe in one jump or maybe slowly but when it does people are going to come out of the wood work to sell their silver...and that will bring it down FAST... I'm still searching this topic out as soon members think the other way... Speedy
I'm bettin silver won't get past $8.25 nor gold past $490, IF they get that high - before they both drop back to $6 and change and $420.
Difficult to say I guess. But I don't think the prices will come out very soon either for gold. Maybe silver prices will drop though. Firstly, with the recent hit of the oil prices, that drove the mining sector insane. Next you have insane buyers, not in the US but in Asia that just keeps on pushing the prices higher. That is your basic economics there, supply and demand. Unless you can find a way to increase supply greatly or reduce the demand significantly, or reducing cost in between the whole process of minting the gold out of the mines and up to the consumers, it is a difficult thing to reduce the prices. Unless the oil prices decrease significantly or the demand drops, the prices wouldn't drop at all. The mining industry can't just find new gold mines overnight!
I think it would be the best thing ever if silver went to $3-4. It would be a dream come true for me.
Whoh, big fella! What could cause silver to go to $3-4 might be more than you bargained for, like the d-word, unless of course you are short silver at this time. What causes silver prices to fall dramatically might just cause you to not buy when it hits $3-4. These things just don't happen in a vacuum. Regards! Willie (The Ghost of)
I don't have more than I'd say $15 face value in old American silver coins so I guess that is not much. I think it would be awesome if I could buy silver rolls of Roosevelt dimes for only $10, silver quarter rolls for only $20 and a silver half for only $1.50 or so...
