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 Replies: 7 / Views: 1,265 |
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Pillar of the Community
United States
668 Posts |
How high do you think silver will go? I have about 8 ounces of it that ive collected over the last year. I'm either going to sell pretty soon here to further my Lincoln Cent collection. What do you think? Edited by zacharycash
11/06/2007 12:48 am
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Pillar of the Community
United States
2764 Posts |
Same here, Zachary... I got some good silver coins that I may have to sell to build my Lincoln Album. Man, I looked back at kitco.com historical chart and see a saw-blade.... it's up and down like crazy. There are many reason to it though. 1) Silver is a bi-product and there are no such thing as "silver mine"! 2) Silver are heavily used in jewelry and industries 3) It can be treated as a liquidity form and many investors/investing firm playing around with it. Every time someone sell for the profit, price plummered. 4) Any other reasons that I haven't known yet... Check this out: http://en.wikipedia.org/wiki/SilverI may sell mine if the price sustain (as gold going higher). Wishful thinking, but if gold hit 1000, maybe silver will be 20 or maybe 17. Dude, if that's true, I'll just dump all my silver for the cash and buy other coins. Well, considering back in the 80s, silver was $40 when gold hit $800 (my number may not be exact, but close enough); just think of dollars per dollars then, don't you think that silver should be at least $20 or $30? Here're my "references": http://seekingalpha.com/article/526...silver-at-40http://findarticles.com/p/articles/...5/ai_6090357http://www.dailyreckoning.com.au/us.../2007/10/09/I am not speculating, I am just asking a question! Any answer? |
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Pillar of the Community
United States
1247 Posts |
I don't know how high it will go this time, but I think time is running out for it. Inflation and fear of more inflation, IMO, is what's driving metal prices right now. But it's not going to last forever. The fed's latest monkey show of bailing out wallstreet only increases the chances of a bigger disaster on wallstreet. Instead of allowing wallstreet to cleanse itself of stupidity--something that Capitalism does exceedingly well when left alone-- the fed is ensuring the survival of stupid genes so that they may continue to propagate an even bigger disaster. A crash on wallstreet, even a slow motion crash such as they had 1974, I believe will be very deflationary. Not just from the money that will no longer exist in the hands of investors but the jobs that would be lost in the financial sector, which is most of what we like to call our "industry."
But in the long run I have a lot of faith in metals since they are driven by fear. The fear of inflation could be replaced by the fear of social disorder. The way people are today, what's going to stop that from happening in hard recession? Is some wind-bag politician going to make smiley faces and happy thoughts mandatory?
Edited by longnine009
11/07/2007 8:38 pm
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Pillar of the Community
United States
590 Posts |
You have some good points Long9. Who knows how high it will go or when it will go belly up. I would probably sell before I would buy right now.
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Pillar of the Community
United States
2269 Posts |
Don't forget the rising price of oil and the falling dollar. Oil has been flirting with the $100.00 mark for the last week, eventually it should surpass that plateu. The American dollar is at a new low compared to the Euro. The Canadian dollar is worth about 8% more than the US dollar.
You need more than 2 dollars to equal one British Pound. Add in the Housing market slump and the rising amount of foreclosures.
This equals rising inflation.
It also means silver should continue to rise along with palladium, platinum, and gold. Even non precious metals have seen a major rise in the last year.
While I don't see silver topping the $40.00 mark (thanks to the Hunt brothers), I do see it surpass the $20.00 mark in the coming year.
Edited by Spider5689
11/08/2007 11:41 pm
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Pillar of the Community
United States
2764 Posts |
I am completely agreed with Spider5689!
Just waiting for that $20/oz silver and $1000/oz gold.
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Pillar of the Community
United States
2600 Posts |
There will be some profit taking soon, but the fed is going to keep lowering interest rates until the housing market comes back. It is not energy that is killing the American economy. America has already adjusted to $3.00 gas, it is the foreclosures and credit lose that is driving the dollar down, currently. Unfortunately for the dollar, as the fed pushes interest rates down, it depreciates the dollar and drives investors into other venues and gold goes up. I think that gold will take a hit short term as there are profits to be made now. After that, it will go up further.
Jim
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Valued Member
United States
314 Posts |
I dont see anything good with the us prices on anything right this secord.
Its not just gold and silver going up. Its oil, junk scrap metal from wrecked cars, Copper is going high, nickel was to. I see going to get worse and go higher.
One oil company in France refused to take USA dollars I heard. Like they say the us dollar is falling big time. In 1970 Thur 1980 when oil prices went bonkers is caused inflation big time with all stuff like food, consumer goods, everything.
If the us prices dont change or go down I may sell all my stuff and go back home to Mexico where its cheaper to live for sure. Gas was like 2 bucks an gallon last week down there or last time I checked since it controlled by Mexican government and not the greedy oil companys like in USA.
Since the USA dollars are weakening like they are. I would buying up gold , silver, saving all pre 1982 pennies, all nickels for metal content since the International market drives those prices up or down. Start putting you extra money in the euro dollars, or britain pounds since the USA dollar is going down or in assets in the USA such as above or land or something besides loose dollars.
I wish I knew what happening in the USA it got me confused and its strange markets for sure compared to serval years ago.
Chevrolet454ss
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Replies: 7 / Views: 1,265 |
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Posted 11/07/2007 8:28 pm
