Closing price yesterday: Silver $13.91/oz 0.36 Yup, looks like $14 silver shortly! Imagine, .36 increase in one day, this is = 2.66% increase in one day. Nice
I've been big on silver for a few years. I started to accumulate silver coins and some bars when I was in school (on a student's budget, mind you) when it was $6/oz. Working now, I've been buying more quantities of silver as well. Now that it is pushing up to $14 again, it is something to watch. The news of the dollar dropping in value has pushed up the price of silver over the last few weeks. It looks like it's broke thru a major resistance point from Sept 2006 of around $13.50 or so. It will be interesting to see if it continues thru past $14.50 mark, which was the high of this past year. http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx
I don't mean to be the pessimist here but isn't it a regular occurence for silver to see a slight increase over the Christmas season? After the holidays the price will "normalize" again...
http://www.kitco.com/charts/historicalsilver.html This is a great site and I highly recommend it - it lets you look at historical charts and if you check it out, December varies. I really think that the rise in demand of silver, in addition to a weaker dollar, is pushing the price upward. But who knows what the future will hold
