13 short years ago silver was around $4.50/oz and no one wanted it. Demand is what sets the price. With the new solar tech, political unrest, an uncertain economy, medical use, etc, silver is now more popular than ever. I cannot imagine it doing anything but elevate in the future, however, the future may be a very long time in passing. As far as an investment, I can think of several much better strategies.
13 "short" years ago, silver was $7.93 an ounce and the GSR was 53 http://web.archive.org/web/20040401110843/http://www.kitco.com:80/market/
Pardon me for my blunder...13, 14, 15 years, whatever....I sold a pile of bullion that was taking up space for years and doing nothing. Traded it for gold $20 Libs. @ $535 ea. Sold them back to the same guy for $1100 ea a few years later. Finally got ahead on the PMs and don't plan on holding any bulk in the future. My retirement accounts pay back hundreds of % more than PMs will ever. I can't live forever, so stocks are my only wise choice for a steady pay off.
Once again, PMs should be nothing more than a small hedge to other investments such as stocks, mutual funds and bonds - - part of a diversified portfolio.
I've been advised for many years that when the stock market drops, that's the best time to add more funding into it, and it's true. Whenever I've done that, the market has always advanced within a reasonable time. A small hedge of PMs is a very good plan for those uncertain times in the stock market. Most financial advisors will tell you 5% of your portfolio in PMs is a sound investment.
There's a problem with the word "never" as it encompasses all of history, as we understand it. In ancient times, one ounce of silver was approximately a week's wages... Then again, their wages had the same approximate buying power as a day's wages in Thailand. Regardless, 52 ounces of silver would buy a year's worth of slave labor in ancient times (or in developing nations).
I will never have sex with Mila Kunis. Silver will never be highly valuable (it is valuable about $17 )
Never is a very long time and if you are old enough to know who the Hunt brothers are you know it can go up. It might be manipulated up, but it can go up. But on the short side they don't store silver in Fort Knox for a reason.
the silver side loves to bring up things like this that mean nothing. its more useful then gold because its pratically worthless compared to gold. If gold was $17 a ounce lol you can bet it would be heavily used as well. Water is far more useful than gold or silver.. doesnt mean its going to $2000 an ounce. BTW Congrats on breaking $17.50. Dont spend all your new found wealth in 1 trip to walmart.
Silver will never be the PM super power like gold or platinum or even palladium which has made remarkable gains in the past week, however it is an affordable Way to invest and maybe make a few bucks in the process
What do you mean by never be a super power? There has been numerous examples throughout history of countries on the silver standard, not the gold standard.
I am talking about PM,s in general right now, Silver at 17.62 OZ every other PM makes those gains in one day ! Silver is lucky to go up a few cents
Absolute value is irrelevant as you just buy more ounces if the cost is less. All that is important is the percentage increase.