We touched on this last week and I want to bring it up again. Silver seems to be a bit undervalued right now and I thought it would stay in the mid 14's this week. I was wrong but now that I look at some of the historicals I should have known better. I still think it is a bit undervalued and I think it will drop again tomorrow, after hitting a low of 13.50 today for about 2 seconds I would not be one bit suprised to see it close at that tomorrow. I can also imagine that it will rebound in the first part of September and then go back to the mid 13 range at the end of Sept, maybe lower, but I don't think it will. Any thoughts?
You can only look at the charts and see what has happened in the past, when it is all said and done, there is no way to get it exactly right. So I guessed at it based on the last few years of charts and was wrong. You can find all the historical data you wish to find on kitco.
I know, but the volatility is just a little unpredictable. I remember most people saying it'd be 16$ by wednesday, and I just wanted to know how you guys think. I really hope it starts gaining soon, I have a lot of silver...
You can't just look at the charts, you have to look at all the related news surrounding each jump and dip to do the next prediction.
That's how I do it crusty, that's why I questioned the use of charts. Like it might be good to sell platinum if there's a strike: http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSLJ23254420090819?rpc=401&
I guess at some point it will gain and it will fall. If I really knew what was actually going to happen, I would not post it. All I can do is make as educated a guess as I know how. So maybe we can get back to the topic and you could post what you think it will do.
I never strayed away from the topic at all. I really don't want to argue however, so I'll just drop it. I really don't know what silver will do in the short term, but I suspect a jump in prices within the next year, once US inflation kicks in (it will take a while as the bailout money given to banks hasn't been given out as loans yet, the banks are just sitting on the money for now)
An idea for you if you are really wanting to move or dump your silver and get into platinum would be to trade in your silver for an equivalent value in platinum or other PMs. Some of the bullion sites buy and sell from customers but the buy price they quote and your shipping, wait times involved, etc. isn't a good deal. You'd likely be able to find a local dealer who would offer you a one to one trade in or something close to it, depending on your relationship to the dealer. I did this a few years back to reduce a large quantity of physical silver bullion I had saved for many years when the price was high, but I didn't want out of bullion, just less mass to deal with, so I traded in for AGEs.
Silver is very volitile but the fundamentals are as good as you will find in any investment. That's really all you need to know.
The advice was never relevant because it isn't actionable. It's like telling someone to only schedule their vacation when the weather will be nice. There are two basic ways to make money on investments with some reliability. One is to buy something where the fundamentals indicate that the price is lower than the intrinsic value of the asset. The other is to buy something when the price action indicates that it is in an uptrend, and sell when the trend comes to an end. Everything you read about investments is a variation of one of these two methods. Both are valid.
If you do a deep search on this website, you'll find posts from people who were happy to sell at the high price of $8, $9, $10, $11,.... Others will be happy to sell at $20, $25, $30, ... And a very few will hold on and make a small fortune. In my opinion, silver below $20 is a gift. It's a once in a lifetime opportunity that you may never see again -- if you have the guts to sit on your hands when things start to get crazy. You might think $20 is high, but it isn't beyond the realm of possibility for silver to advance in price, $5, $10 or even more PER DAY when it really gets moving. ... or I might be wrong. Life doesn't come with any guarantees.
I agree with Cloud, I'm holding on for the long term, for a rainy day. And silver below 18$ is quite cheap, so I'm buying like mad
