Silver going $20+ this year .

Discussion in 'Bullion Investing' started by Kevin wu, Jul 8, 2020.

  1. slackaction1

    slackaction1 Supporter! Supporter

    Good for you Mr. WU.. I quit purchasing when it hit the 20 plus side but still looking and would buy if its right... I have only been in this Silver Forum for 8 years and this is the first time Silver has made such a move. I started slowing my roll on buying Silver cause I don't know how to read markets and graphs and charts like these FELLAS do and there good at it, so I just read their posts and observations or predictions and make my own assumptions. Good Luck WU.... The 2011 spike I think it went up in high 40's but not for sure.. I wasn't any position at that time to do anything but read thru all the blogs I was interested in here in CT.
     
    Last edited: Jul 27, 2020
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  3. imrich

    imrich Supporter! Supporter

    Do you think so?
     
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Silver approaching $25 and showing leverage to gold moves.
     
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  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    Gold is up $36.27 for the day
    Silver is up $1.58 for the day
    Platinum is up $20.86 forvthe day
    Palladium is up $105.96 for the day

    I'm sure prices have already changed, to the higher.

    On July 8th @goldcollector stated "Gold will break all time high while silver struggles at $20". That was 19 days ago. Silver blew through the $20 price range like it wasn't even there. Can you please explain this? How could you be so wrong? I'd love to hear this answer.
     
  6. Tuco

    Tuco Active Member

    Platinumbskulls are always wrong. A good rule of thumb is whatever @paroledcollector recommends, do the opposite.

    Hi-Yo, Silver! Away! :D


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  7. slackaction1

    slackaction1 Supporter! Supporter

    Yeah that was awesome watching it blow right on by 20 mark... What's this a 7 year high for Silver approaching the 25 mark Silver is solid but in the same pattern as gold.. w
     
    Collecting Nut likes this.
  8. -jeffB

    -jeffB Greshams LEO Supporter

    As a detail, I'm not sure what site you're using for your quote there, but $52.73/kilo seems a bit off, especially when it shows 79 cents/gram directly above...
     
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    And rising. Lol all the way to the bank!
     
  10. Tuco

    Tuco Active Member

    Good catch, that's the APMEX app, not an endorsement :)
     
  11. Doc J

    Doc J Mr. Brightside

    I think it is a market bubble (silver is up 60% in 4 months with gold right behind it).

    Silver was front page in the WSJ today. Once it hits headlines, I like being careful.

    I am holding but not buying.
     
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Often a good strategy.
     
  13. Rick B

    Rick B Well-Known Member

    I agree. Bubble bubble...where's the pin!
    I'm buying after the pin bursts the bubble.
     
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    You have to compare it to a moving average, not the March lows.

    Also, take into account multi-year pricing.

    And finally, go by past moves from trough-to-peak to get an idea of how big this move can go.

    Look, I'm agnostic and I really don't care if gold goes up or down 15% from here...but I can easily make a case for $32 silver and $2,200 gold in a few weeks.
     
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  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    When it leads off FAST MONEY on CNBC or other programs, and you find segments including "5 Ways To Play Gold or Silver"...then it's time to ask where the SELL button is. :D

    Gold is going to go up as political risk increases.
     
  16. -jeffB

    -jeffB Greshams LEO Supporter

    I apparently clicked on one too many PM stories, because Google's been feeding me those headlines for weeks now. :rolleyes:
     
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  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    You want to know when the REAL TIME to sell gold is coming ?

    It's when my dad calls me up and says "I"m thinking about buying some gold coins, what do you think ?" :p

    LOOK OUT BELOW !!!!!!!!!! :D
     
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  18. Tuco

    Tuco Active Member

    I really like silver and believe it has a lot of room to run. I'll be surprised if it doesn't set a new record high in '21. Am I buying? No way! :) Not with current premiums, just going to watch and try to be happy I started loading up last year when it was $15 and stop wishing I'd bought more.
     
  19. Tuco

    Tuco Active Member

    Robert Kiyosaki just said silver is 50% low, sounds about right to me.


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  20. Rick B

    Rick B Well-Known Member

    That's an idea I didn't think of. Now I hope they DO NOT come up with a new stimulus package. I want things to go south so I can load up on stocks.
     
  21. Doc J

    Doc J Mr. Brightside

    1) How far back are you tracking to determine the moving average? Silver was stuck at $4 from 1998-2003 then went into the high one-digits before the "Great Recession" markets in 2011-2012 (the previous highs of $26 & $27). The average in the last 8 years has been ~$14 (my basis).

    2) I don't understand. You don't care, but you are making a case for $32 (up another 33%) and $2200 (up another 14%). I am not disagreeing, but I think your numbers are an optimistic case. You are not buying?

    I am good at holding. Silver was $12.13 last March (the low in 2020). It has doubled since the low.

    As a CFA and a RIA (SEC Section 203c), I like cash.:happy: I understand that "cash is trash" today, but things can change quickly. Plus, my PM exposure is near my limit to total assets.

    JMO,
    Doc
     
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