Silver Dips Below $30

Funny thing is, I just checked prices at one of Mexico's national banks and silver is UP 28 pesos from yesterday. That's more than a $2 USD jump! The exchange rate didn't go up that much. Maybe its just the guys in the back office tring to keep their inventory from running out the door.

Oh well, enjoy the window fellas!

Ah, well. Looks like I won't be buying anything today after all.

Maybe tomorrow...

Time for another prediction thread? I have a few.

Have a look at the 1 year silver price history chart, and the silver 200 day moving average.

Trend lines can be drawn from these which suggests that silver will be around $28 in six months' time.

http://www.businessspectator.com.au...ment&src=rss

According to this article Bernanke may try to devalue the US dollar which would force gold prices higher. As gold goes so does silver. This play into the scenario of a price jump occurring around the end of summer. I've leaned along time ago not to live buy charts alone. The Greeks sure messed up my stock portfolio and no chart saw that coming. My opinion is buy low and hope for the best. I got a feeling we're going to see sub $28 prices soon and could go as low as $20 if there is a sudden improvement in the economy but who knows. With the economy slowing in China and the recent government changes in Europe, anything could happen. We're still in volatile times and gold and silver as still a good bet.

Look at a longer range chart and you may see an eerie similarity to 1980-81. I'm looking for silver to tank, BIG TIME. I may be buying those pre-65 mint sets I need before the end of the year with silver close to $15 an ounce! I would not be surprised to see silver below $20 before summer. If that does happen (and that's a big if) the trick is to figure out the "buy" price. It would be a shame to wait for $15 and have it rebound at $16, but no sense buying at $18 on the way down to $12. But then again, I may be totally wrong. Isn't this FUN!?!

I like silver as much as the next guy, but just lately added a quarter oz. of plat an gold to diversify a bit, an why not with prices in free fall some deals to be had....

Do I think silver will bottom out at five bucks an remain there another 30 years, heck no? But why not spread it out a bit an keep that in the plans for the time being.....

Now, I will be buying silver as well, as now with a quarter oz. of each plat an gold stashed away, my next jump logically will be from 36 to 40 oz of silver, most likely in LOAF form, I love a good loaf, lol....

I'm relatively new to silver. I've been buying for about a year or less. luckily my collection got onto a fast track when I discovered a couple local hordes that had sat for decades. I bought in at about $22/oz and most of the coins are proofs and have additional numismatic value. I actually bought in when silver was over $40/oz on most of my coins, so its hard to watch the profits that I had slip away. something just tells me that long term this is going to work out even better, so I'm sitting tight. silver is used as more than just currency and new uses for silver continue to be discovered. so its hard to imagine the precious metal falling much farther. I did take a third of my silver and sold it for ancients to diversify things a little just in case when I first purchased. so I'm 2/3's silver and the rest ancients. I wonder how this will play out someday......