why is silver going up?

There is some great info in here and thanks for it. The 1-15 or 1-20 is a great scale to use and I like the kiss method in most cases (keep it simple stupid). With all of the info that is in here and silver dancing in the 14 to 15 range for the last week and a half, which do you think we will see first, $12 or $17 spot? If I had to bet right now I would bet at $17, but I think it will drop into the $12.50 range before it hits $17.

The reason is right now manufacturers that are using silver are buying to fill orders for christmas, IE Oct delivery of goods and need to buy right now. That will ebb in the next few weeks and then once Sept comes around you will see it go up. I am not really taking "panic reaction" to economic and political atmosphere right now, and I have been wrong numerous times in my life.

I saved a little cash and if it hits $12.50 somebody is going to get a really nice order from me.

Have I lost my mind?

 

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That's great, but... What are you going to pay over spot, and are you paying S & H and insurance? Or are you going into a coin shop and walking out with the goods.

Here, my local coin shop sold out and now there's a bullion dealer there that has all metals in coins, bars, rounds and bags of coins at a reasonable price over spot. If I wanted to buy $100 dollars face of silver coins (90% mercs, walkers etc.) He'll sell me any quantity he's got. He's not a coin dealer and won't let me pick over his bags of coins. But he's local and there's no extras costs involved.

Bruce

 

because more people invest in it over gold as its cheaper more can afford it

 

http://silverprice.org/ sez... (2008 article)

Silver mines produce around 650 million ounces of silver a year. Plus about 200 million ounces from scrap recycling, and 100 million ounces from investor selling, or government selling. That's a total of around 950 million ounces a year.

Of all that silver just over 40 percent is used by industry, 28 percent in jewelry, an additional 20 percent in photography and around 5 percent in coins and medallion. That comes to 95 percent of the total silver available.

So there is an apparent 5 percent available for investment but, as investment is starting to increase this percentage is diminishing rapidly.

Silver consumption has been increasing since the 1950s and an increasing percentage is 'lost' in consumption each year due to deterioration, destruction and hoarding.

It has been estimated that there is only around 200-300 million ounces of silver available to the market at the present time and about 125 million ounces of silver at the NYMEX, the big commodity exchange in New York.

 

We may see a surge in silver consumption due health related products. My Sister is an RN and she sees a growing use of silver (and copper) in hospitals.

I wouldn't be surprised to see some silver content return to new, larger denomination coins...for health reasons. Paper money is incredibly unsanitary.

http://www.silverinstitute.org/medical_applications.php sez...

Silver’s anti-bacterial powers have been tested and proven scientifically even though its power as a bactericide has been known for centuries. The ancient Phoenicians, for example, knew that water, wine or vinegar kept in silver vessels stayed fresh during long sea voyages.

Only recently, however, have scientists discovered how the white metal does its work. Quite simply, silver interrupts a bacteria cell’s ability to form chemical bonds essential to its survival. These bonds produce the cell’s physical structure so bacteria in the presence of silver literally falls apart. Cells in humans and other animals have thick walls and are not disturbed by silver. Therefore, silver prevents bacteria growth but is harmless to humans.

One of the most important uses of silver as a biocide is in hospitals and other health care facilities because they grapple with MRSA (Methicillin-resistant Staphylococcus aureus), a type of life-threatening Staph germ. Also referred to as a ‘superbug,’ MRSA is resistant to almost all chemical antibiotics, so many hospitals are employing silver-imbedded equipment including surgical tools, catheters, needles, stethoscopes, furniture, door handles and even paper files.

One of the most promising applications is in silver-imbedded bandages for burn and wound victims. The silver ions help prevent infection but also speed healing because the body doesn’t have to focus its energy on fighting infection.

Currently we’re seeing a surge of applications for silver-based biocides in all areas: industrial, commercial and consumer. New products are being introduced almost daily. Established companies are incorporating silver based products in current lines - clothing, refrigerators, mobile phones, computers, washing machines, vacuum clearers, keyboards, countertops, furniture handles and more. The newest trend is the use of nano-silver particles to deliver silver ions.

 

The experts are only analyzing above ground refined silver reserves and current mining capacity. Just because silver has been consumed in the production of electronics, medical equipment, jewelry and etc doesn't mean it has been spent. This silver can be re-claimed and will be exponetially as the price of silver increases. The Hunt Brothers can give testimony to this fact.

 

The KITCO site has a Silver Discussion Forum that's interesting.

From what I've read, productions costs vary widely from mine to mine...there are many influential factors. I mostly see "average recurring production costs" in the $6.00 per Oz range.

I see "All In" production costs (a broader view that includes acquisition, exploration, depreciation, etc) closer to $10.00 per Oz.

There are additional properties that can be brought into production. However, these are generally less efficient properties (companies usually mine their most profitable assets first) and to do so would raise a company's average "All In" price of production.

 

so you guys think silver is going to drop in price in the next couple months? then go back up?

I hope so...

 

Thats pretty much the plan i believe.

 

i just saw in another thread ppl saying $18 /oz so thinking =

 

silver is now $15.20 per ounce. tomorrow it should be $16.00

 

Whoa! That's a bold prediction

 

Nah, Friday, investors will take profits and keep it lower. Maybe by Wed.

 

Yeah, I'm thinking Friday will hold the weeks earnings pretty much, dip next week early, then try to climb again.

 

ok so $16/oz soon but will it DROP?

 

:whistle: so...

 

Current Silver $14.25, so, YES it will drop :whistle: