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 Replies: 18 / Views: 3,280 |
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Pillar of the Community
 United States
1320 Posts |
If that's the case, I feel all heck is about to break out in the middle east, with the fall of Yemen, and the passing of Saudi Arabia's King. I see the price of oil going well over the $100 barrel mark. I'm not a commodities expert by any means, just read a lot & I just don't have my head in the sand. Pray for our service men over in harms way! Thanks for any and all comments once again, you are a very bright group of minds.
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Pillar of the Community
United States
589 Posts |
This might belong more in the PM sub-forum...
Anyway, the market outlook showed silver/gold to be low the first half of the year, and then higher the second half. The SNB unpegging their currency has caused a massive shock. I've got some silver I'd like to sell, to then reinvest when silver falls. However, I'm concerned about silver continuing to rise, especially due to the SNB and the Euro beginning QE.
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Valued Member
United States
98 Posts |
Also a good point. In Wednesday's paper there was an article on gold rising in response to the Euro decline. Who knows these days.  |
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Pillar of the Community
United States
1750 Posts |
I think in the $30-$35 range. As the currency war heats up, gold and silver will go up.
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Pillar of the Community
Canada
849 Posts |
Quote:
Was reading the other day in the WSJ about how prices for commodities such as gold and silver fall with the price of oil. Makes sense since oil is used to produce gold and silver. My bet is that prices will continue to decline until oil rebounds. I don't get the "oil is used to produce gold and silver." Common thinking is that crude oil (and natural gas) were formed by the compression and heating of ancient organic materials over many millennia. I live in oil-rich (and now cash-poor) Alberta Canada. We are known for our oil. Not our silver and gold. Canada mines silver and gold - yes. But Alberta is not famous for that. Gold and silver are minerals. You can find them on the periodic table. But how do you use oil to produce silver and gold? Albertans would like to know. Oil prices have been cut in half in recent months and the govenment can't balance the books. I do not work in the oil industry so maybe I am missing something. What is the secret formula to produce precious metals from oil? |
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Bedrock of the Community
United States
20753 Posts |
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I remember when silver was trading at $3.54 an ounce and gold was at $355. Maybe I'm just old. Hardly old. Some time back when I got married I purchased a Gold charm bracelet for my wife. One charm for each important date so for the first kid, one charm that was an ounce. Back them I really had to come up with a lot of money since Gold was $35/Ounce so that charm was almost $50. My prediction for Silver at the end of 2015 is either $5/Ounce or $100/Ounce or somewhere in between.  |
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Pillar of the Community
United States
4333 Posts |
Silver...already one of the top performing commodities for 2015, up about 16% over it's low of $14.16 in December 2014. I predict a flat $16-$18 for all of 2015.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
98 Posts |
Quote:
I don't get the "oil is used to produce gold and silver."
Common thinking is that crude oil (and natural gas) were formed by the compression and heating of ancient organic materials over many millennia. I live in oil-rich (and now cash-poor) Alberta Canada. We are known for our oil. Not our silver and gold. Canada mines silver and gold - yes. But Alberta is not famous for that.
Gold and silver are minerals. You can find them on the periodic table. But how do you use oil to produce silver and gold? Albertans would like to know. Oil prices have been cut in half in recent months and the govenment can't balance the books. I do not work in the oil industry so maybe I am missing something. What is the secret formula to produce precious metals from oil? To clarify what I meant about produce: the oil is used in the equipment that extract ore, refine it, transport it, etc. That stuff is heavy so transportation and extraction would logically use a lot of gas/ diesel! No alchemy here  |
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Pillar of the Community
Canada
849 Posts |
That make more sense. Oil and gas are consumed in the mining and refining of gold and silver. Not in the making of gold and silver as the original comment appeared to be saying.
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Pillar of the Community
United States
606 Posts |
DoubleEagle20, given silver has increased 3% on average per year over the past 100 years, $30-$35 seems pretty high given it's already up 16% for the year.
I realize things change, but can't see myself even considering paying $35 for an ounce of silver in the near future.
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Pillar of the Community
United States
2543 Posts |
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silver has increased 3% on average per year over the past 100 years, $30-$35 seems pretty high given it's already up 16% for the year. It also dropped from a high of $49 in 2011 to a low of 14+ in 2014. If you factor in inflation, Silver would have to have to be well over $100/oz just to equal the inflation adjusted value of silver in 1986, the start of the ASE program. Quote:
I realize things change, but can't see myself even considering paying $35 for an ounce of silver in the near future. Maybe not you, but in 2011 when silver hit $49 the mint sold 40 mil ASEs, 970,000 proofs and 400,000 UNC. The market will be there no matter the price. I see $30 this year, back down to $20 by year's end. |
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Pillar of the Community
United States
1158 Posts |
I don't think it moves above $20 and may try to push below $15 again. Quote:If you factor in inflation, Silver would have to have to be well over $100/oz just to equal the inflation adjusted value of silver in 1986, the start of the ASE program. How do you figure? Silver was about $5.50 in 1986. That's about $12 in 2015 dollars. Edited by tkbslc
01/28/2015 02:32 am
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Pillar of the Community
United States
2543 Posts |
Apologies, I misspoke, I was talking about equaling it's high during the 1980 spike.
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Pillar of the Community
United States
606 Posts |
Inflation over the past 100 years has averaged about 3%. Silver prices over the past 100 years has averaged about 3%.
On average, silver increases at about the rate of inflation.
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Pillar of the Community
United States
1158 Posts |
Well the 1980 spike was caused by some rather artificial measures. I think it should be ignored when looking at historical averages. Someone literally tried to buy ALL the silver.
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Replies: 18 / Views: 3,280 |
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Posted 01/23/2015 10:32 pm
