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 Replies: 743 / Views: 52,022 |
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Pillar of the Community
 United States
1454 Posts |
 , smith23. As much as I wouldn't mind seeing silver fall below $20, what happened in the 80's, a period where debt and world population was much, much lower, can not be accurately employed in 2012 to make a viable prediction regarding silver's future price movements. For instance, China and India didn't have a significantly large middle class back in the great PM run-up of 1980 like those countries have today. But if one analyses recent data, more and more citizens from these new manufacturing bases are buying up gold and silver in record amounts, much like how oil prices are being driven to new heights, not because of growing US consumption, but due to the addition of third world societies whose newly affluent members wish to sample a larger sliver of the "good life". There are too many other factors besides the three I briefly touched upon that make this a brave new PM world for anyone, even the major players who buy and sell PMs and distribute them across a global market, to know silver's potential upper limits. Every economist I've read who specializes in commodities tends to have a different opinion, so I've long given up on trying to figure out where the price of the PM I love may one day end up and simply buy when the opportunity presents itself, cherish what I have, and not worry so much about future gains. One other note, although members welcome diverse opinions, we tend to conduct ourselves with a great deal of decorum and civility to avoid the flame wars that infect so many other forums across the web. Name-calling or personal attacks of any kind are an especially big taboo, even when one isn't targeting any person in particular, as was the case with your post. |
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Pillar of the Community
United States
5862 Posts |
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Seems that all those people that thought that silver would rebound and hit $40 or that magical $50 and make them not look like fools for buying up silver at $35 must now be crying. Well, I'm sniffling a bit, but I wouldn't exactly say I'm crying... I make myself feel better by buying more silver now that it below $30 again and reminding myself that I'm buying for long-term investment and not for short term gain. If silver is still only worth $30/ounce 20 years from now, well, I guess then I'll be crying. |
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Pillar of the Community
United States
5833 Posts |
I think there's too much money being invested into PM as a whole, so silver being the poor man's gold will stabilize in present economic time, unless there's a drop in industrial usage and another type of material used to replace silver.
Perhaps it will go down to $25, then people will buy it to push it back up again.
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Pillar of the Community
United States
1590 Posts |
Just saw these figures on "The Silver Institutes" Web site. (all figures in million ounces)
From 2002 to 2011 total supply of silver from all sources went from 868.3 to 1040.6 million ounces.
In that same time period, quantifiable demand, went from 843.5 to 876.6 million ounces.
It is interesting that each year of a surplus, which was every year from 2002 till the present, they have lumped that surplus into a catch all "demand" catagory called "Implied net investment". When I looked it up, all that meant was that they couldn't figure out where the rest of that years supply went to...so they assumed that there is an unknown investment group buying it all up in a secret manner.
What troubles me the most are the scrap silver numbers: roughly 2.1 BILLION ounces of silver has been scrapped since 2002. How much of that is in 90 percent coin? If we call it 70 percent then roughly 1.4 billion ounces of coin silver has been scrapped. And that is just in the last 9 years.
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Pillar of the Community
United States
1590 Posts |
Opps. Figures were for "per year".
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Pillar of the Community
Canada
1502 Posts |
Quote:
we tend to conduct ourselves with a great deal of decorum and civility to avoid the flame wars that infect so many other forums across the web. Name-calling or personal attacks of any kind are an especially big taboo, even when one isn't targeting any person in particular, as was the case with your post. completely agree. There are many a forum for that kind of behaviour, but the members here enjoy value diversity and civility. |
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Pillar of the Community
United States
593 Posts |
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completely agree. There are many a forum for that kind of behaviour, but the members here enjoy value diversity and civility. Hear hear! |
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Valued Member
Canada
262 Posts |
Dangerously close to $29...
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Valued Member
Canada
262 Posts |
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Valued Member
United States
458 Posts |
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Valued Member
Canada
262 Posts |
Closes at $29.04 after an insane big jump in the last five minutes of trading. At the very least, it doesn't look like anyone will live to see silver back in the teens anymore.
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Valued Member
United States
458 Posts |
Maybe this is the "break out" we have been looking for. I'm just happy to see a different number...lol
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Valued Member
Canada
262 Posts |
For the record, I meant the last 5 minutes of trading yesterday going by New York time, I realize the price is still fluctuating.
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Pillar of the Community
United States
3670 Posts |
I have slowly been changing my holdings from silver to gold, an it has worked out thus far as gold is climbing nice with silver an both are holding ground for now....
Silver may stay over $29 and gold is holding ground at $1622....
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Pillar of the Community
United States
1590 Posts |
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Replies: 743 / Views: 52,022 |
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Posted 06/13/2012 5:31 pm
