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 Replies: 17 / Views: 3,095 |
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Pillar of the Community
United States
3670 Posts |
As we all know silver an gold have been stuck in neutral for a couple of weeks, now all of a sudden we see silver fall below that $33.50 barrier, down to $33.25 or so, and now back below 33. Gold is treading water trying to stay above 1700 as well.....
I think with new reports of false recovery, many new reports of foreclosures, combined with RIDICULOUS gas price rise and talks of overall INFLATION, makes me think this is a false pullback, and it is getting ready to shoot up, both silver an gold. Starting either tom, perhaps Monday, we will see.....
Curious if anyone agrees with my glass half full theory, or is it about to tank again, which is gonna open that buy window back up again? Edited by Silverhawk74
02/16/2012 10:17 am
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Valued Member
United States
421 Posts |
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Valued Member
United States
404 Posts |
Silver has been known to stay stagnant for years even during wars and world economic problems. I think we're going to see less and less of what happened last year as more time passes. I can see silver staying near where it is for a while.
I think last year everyone was jumping on the bandwagon to make a few bucks since the NYSE wasn't doing much. This year with Facebook's IPO approaching, I feel attention is going to be brought back to the stock market and away from PM investing.
As always just my opinion, no different than someone saying it's going to hit $50 next week.
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Pillar of the Community
United States
1554 Posts |
It's $33.41 when I just looked. That's about where it's been for the last few weeks + or - depending on the time of day.. Nothing new. I expect a slow rise in the coming weeks. Maybe wishful thinking on my part.
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Valued Member
United States
404 Posts |
The Rupee is down and gold is up. Won't this mean less demand from the largest gold buying country? Which will mean supply may soon outweigh demand.
So unless another country like China steps in to pick up the demand, won't the prices drop?
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Pillar of the Community
 United States
3670 Posts |
I will check out that article Mario thanks!
And great point Akane17 about the new facebook stock, and stock overall, as I could see it playing out as you theorized perhaps....
I stil think the 17 plus trillion dollar debt, news of new inflation, Iran pushing some buttons which is gonna push gas over 4 per gallon real soon, should all play in the favor of pushing up gold an silver....
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Pillar of the Community
United States
5832 Posts |
It can be a physiological thing, but I think stocks are due for a drop once it hits 13K or little over it, there's has to be a correction to this false economic correction, investors will wake up from this once the real earnings are in.
On a side note I received a general email from Chase that there are government settlements for the mortgage financing situations for home owners that don't qualify for refinancing, or can't pay for their mortgage, and/or extended delay in mortgage payments and so on. The cut pay and benefit for jobs aren't compatible to the raising inflation that everyone is aware of, but people have to have food on the table, so this will prolong the issues of recovery until there that balance again.
India is the larger buyer of gold than China, and IMO that gold will go up faster follow by silver.
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Pillar of the Community
United States
2661 Posts |
No need to fret, the fear mongers will soon be out in force yelling $100 an ounce silver by the end of such-n-such month just like they were the first week or so of this year. Remember they may be holding paper that was bought in the low $40's or high $30 and they will need to drive the price up somehow in order to keep from taking a loss. I personally think Silver will eventually settle somewhere in the $25-$30 range over the next year or so. But you know what they say about opinions.  |
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Pillar of the Community
United States
3670 Posts |
Its time to hit the panic button! Hundred plus dollar silver by the end of June, I am calling it right now! What do they say about opinions Tim, "That everyone's is inaccurate other than my own     !" Rof  No just kidding, as I would not be surprised if you in the "levels off at 25 to 30 camp", may be right who knows in the end. I will say silver was a bit over hyped last year perhaps to some extent. It is volatile as many of us well know, but that is just good buying opportunity as again we all know.... Three things keeps me in silver take this one to the bank silver lovers and haters.... 1.US politicians 2.national and world debt 3.Future Industry demand As well as many other smaller nuisance here an there, but those main three reasons in the end..... Edited by Silverhawk74
02/16/2012 9:01 pm
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Pillar of the Community
United States
4008 Posts |
Good list, Hawk. Now add #4: declining silver mine production, at least at the major US silver mines. Not sure how other silver producers are doing elsewhere in the world. A number of them produce silver, lead, and zinc from the same mine, so if there is rising demand for those base metals, they will produce more silver too. If there is falling base metal demand, then less silver will be produced. Prices should move somewhat in opposition to the production rates but other factors come into the picture as well, so a clear picture can be hard to figure out.
My guess is that silver prices will hunt for direction for a while and will move up and down over about a $3-4 range for a while. Once a new direction is picked, silver may make some big moves but no one really knows which direction that will be.
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Pillar of the Community
United States
3670 Posts |
Great call on number four there Ed. Not to mention, even if they can find silver in plentiful enough amounts to mine, can they AFFORD to mine it with diesel prices pushing way up?
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Pillar of the Community
United States
5862 Posts |
I love all the websites that show the "primary uptrend" of gold and silver over the last 5-10 years and use it as proof that any downturn must be temporary since gold and silver are trending upwards.
My question, though, is how you can tell the difference between a small dip in a primary uptrend and the peak before a primary downtrend begins? It would be nice to think that silver and gold prices will keep rising forever, but it could just as easily start heading back down.
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Pillar of the Community
Canada
1502 Posts |
There are technical support lines both upwards and down that would help predict the difference between a dip and a break in the current trend. I now wished I took some courses in economics, but there's always time to do some more reading.
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Pillar of the Community
Japan
666 Posts |
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Pillar of the Community
United States
3670 Posts |
I could see 60 dollar silver an 2250 gold, that is pretty realistic to me, but I am a dreamer.....
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Pillar of the Community
United States
4008 Posts |
Quote:
Great call on number four there Ed. Not to mention, even if they can find silver in plentiful enough amounts to mine, can they AFFORD to mine it with diesel prices pushing way up? Thanks, Hawk. Yes, production costs DO matter, so if the ore they are mining is not of sufficient quality, they could well cease producing until the oil price comes back down. They do use a lot of diesel powered equipment in mining, whether that be for ore transport trucks, digging machines, diesel fired generators, or water and air pumping equipment it all adds to their costs. I can't help but think that $100+ a barrel oil isn't helping the mining situation very much. On the other hand, maybe the high price of oil is pushing PM prices a bit higher. |
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Replies: 17 / Views: 3,095 |
Posted 02/16/2012 11:54 am
