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Your Silver Prediction For September 01-2020

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Pillar of the Community
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United States
3190 Posts
 Posted 07/28/2020  8:29 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
As long as the stock markets stay flat or increase a bit, it's not going to go much above $30. If it gets even halfway to $35, then the silver mines will start to mine more, the silver companies will release more, and then the price will fall because then supply will outweigh demand. Except in extreme circumstances, it's the gold and silver companies that make out in any kind of upheaval. They know down to the penny what demand is going to be and they alter their supply control in a timely fashion. Those companies have 1000's and thousands of silver poundage just waiting in the wings and a phone call away from increasing their mining production. With the world economies teetering because of Covid, I wouldn't buy or sell anything until some kind of clear future appears on the horizon.
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Canada
1691 Posts
 Posted 09/01/2020  1:04 pm  Show Profile   Check Petersun's eBay Listings Bookmark this reply Add Petersun to your friends list Get a Link to this Reply
Seems like I was a little too pessimistic with my prediction of $25 Canadian dollars. I would however add that the prices are still quite volatile and I am not exactly confident in buying until the fluctuations cool down a little more.
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Canada
1600 Posts
 Posted 09/01/2020  10:45 pm  Show Profile   Bookmark this reply Add Smallcentguy to your friends list Get a Link to this Reply
The spike in silver prices will cause a lot of low grade common date material to get melted down. Some don't like this, but I think it is good for the hobby to get rid of excess supply as older collectors depart. Plus when people make money in coins for any reason, it is only good for the hobby.

Precious metals will be attractive for some time until economic direction is more clear. Personally though I dont see silver as being portable enough to be a useful store of value.
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