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 Replies: 47 / Views: 5,984 |
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Valued Member
United States
123 Posts |
We should all put in our estimates of were silver will finish the year.It's already higher than I estimated for the end of year. How far will it go?
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Bedrock of the Community
United States
19931 Posts |
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Pillar of the Community
3660 Posts |
Silver prices are related (in a vicious circle) to the job rate, consumer spending, health care costs, stock market interpretation of those things, faith in a Republican Congress' ability in fixing these things, worries over the national debt, and a whole bevy of other stuff.....but I think mainly, business fears over future tax rates are the root of what is generally keeping precious metals high....Speculation on the future of all of this stuff is what drives the economy, not actual events, so as the economy may take a couple of years to revive itself, stock and metals prices can fluctuate dramatically in the course of a few days or even over night.....If the bottom falls out of metals pricing, it will happen by mid January as I see it, and if that doesn't happen, look for higher unemployment rates and sluggish economic growth for quite a while longer.
As the economy improves (if it improves), I would expect a dramatic drop in what might now be the high point of silver and gold prices. Now is not the time to buy in my opinion, but the time to sell.
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Valued Member
 United States
123 Posts |
But Zeewool. People have been saying that since silver was at 20 dollars an oz. I see it going higher and higher after the New Year. I say it will end the year at 31.00.
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Pillar of the Community
3660 Posts |
Yeah, I know Numis, and it may well reach your expectations.
However, when at $20/oz, we were saddled with a Democratic Congress that knew only how to spend, spend, spend....That is exactly why the economy is in dire straits now, and why metals prices are high.....The recent election (I think) will serve to curb a lot of that spending.....I look for a huge drop in silver prices shortly after this ridiculous Health Care Act is repealed, and that is going to happen, (which will serve to alleviate fears over hiring), as will reinstatement of "the Bush tax cuts" (which is also going to happen, further easing hiring freezes), and those two things will do more to stimulate the economy than all of those failed stimulus bills combined, so I personally look for some very big and positive changes ahead, and I welcome it.....(I don't hoard silver).
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Pillar of the Community
United States
5821 Posts |
My guess is that it will have another year plus to go higher before it top of, so by presidential election year that's when things can either start to go back to "normal" or even higher.
Edit: Estimate at $31.70 by this year end.
Edited by macmercury
12/06/2010 7:53 pm
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Pillar of the Community
United States
2424 Posts |
we all knew this day was coming.. just didnt know when
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Valued Member
United States
462 Posts |
If Zeewool is correct, silver will hit $28.00 tomorrow as Obama just agreed to extend all Bush era tax rates. If silver stays above $29 and maybe above $30, then it is a lot more than the tax rates. We will see 32 silver at the end of the year. If the new Congress repeals the Health Deform Bill, then we will see precious metals take a serious drop as employers will have a better grasp of their costs of hiring.
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Rest in Peace
United States
1729 Posts |
Hee hee! Our local coin club had our Christmas dinner this evening ... guess what we were following on several members' iPods? No, it wasn't the waitress!
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Valued Member
United States
463 Posts |
i figure for the years end the high will be 35
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Pillar of the Community
United States
757 Posts |
yeah I think zeewool, as much as I wish you were right, that nothing's going to change from all this, and that we're in for a much bumpier ride than many suspect. if I'm wrong, then i'll gladly pay the price in silver to have my country back...however, I don't think I am.
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Moderator
 United States
16677 Posts |
I predicted $30 yesterday.$32-33 easy next week.
Thanks Obama!
swcoin.ecrater.com
Edited by vermontensium
12/07/2010 12:20 am
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Bedrock of the Community
Australia
21786 Posts |
I still really don't care what the price of silver is. Sure, it has an influence on the value of my collection, but that is not the reason I collected silver coins in the first place, I collected them because they were coins. If the silver price goes back to $5 per ounce, that's OK by me. Most of the coins in my collection were acquired when the bullion price was less than $5 anyway.
I do have a few ounces of junk silver, most of it in coins, but I do not feel motivated to do anything with it.
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Pillar of the Community
3660 Posts |
Quote:
If Zeewool is correct, silver will hit $28.00 tomorrow as Obama just agreed to extend all Bush era tax rates. Not hardly, and I neither said or implied anything of the sort..... who knows how long economic ripples would take to reach the spot silver prices.....the price of silver, (despite what you 'may' think), is merely one commodity, and a rather insignificant one at that, it will by no means be one of the first indicators of economic turnaround. By the way, Obama is not Congress....he can agree to whatever he wants to, but it means nothing without a vote of Congress, and Congress (both left and right), are not currently in support of him..... If the tax rates in place now are allowed to expire before Congressional session's end, silver will rise until (an indeterminant time period after) Congress reconvenes and reinstates those rates permanently in January....If tax rates are extended on a temporary basis (one or two years), this (in the long run) I think, will be worse than waiting til the House is Republican in January, and will prolong economic woes as uncertainty about the future will continue. I am not a fortune teller, but I see certain things as inevitabilities, depending heavily on my faith in the greed and stupidity of our elected officials, and the glaring lack of interest in who these folks really are, as displayed by we who elect them. |
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Pillar of the Community
United States
667 Posts |
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Pillar of the Community
United States
3294 Posts |
I anticipate a small drop in silver by years end to finish up around $28.50
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Replies: 47 / Views: 5,984 |
Posted 12/06/2010 7:14 pm
