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 Replies: 43 / Views: 4,262 |
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Bedrock of the Community
Australia
21788 Posts |
vinnycoin: You sound like a young kid at Christmas time!
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Pillar of the Community
Canada
834 Posts |
Glad it's still only $38.63 here in Canada, I'm determined to stock up before it hits the $40 mark here with my spot price it's cutting it super close
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Pillar of the Community
United States
642 Posts |
It actually broke $40 just after midnight last night....It may have gone down this morning, but I'm showing $40.23 right now.
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Bedrock of the Community
Australia
21788 Posts |
The 5 year trend line for silver is about $24. Current price is $16 above that. Looks increasingly like a bubble to me. IF there were a crash this instant, look for a bottoming out price at around 2x$16 below current price. That would be around $8. Then look to restabilise around $24. I really have no idea when the correction is coming.
Just been looking at historic charts and scratching my beard. Just my ruminations. I have a lot of non bullion silver coins, but I am not after bullion. Reason enough to suggest that my opinion may be somwhere near neutral.
I really don't mind if the silver price goes up or down.
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Pillar of the Community
Canada
834 Posts |
I mean in Canadian dollars. We pay a different rate here, ALmost 1.50$ cheaper compared to the greenback
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Pillar of the Community
United States
642 Posts |
 with sel_69l. Last year at $16 it was too low and destined to move higher, but it's definitely in a bubble now. Usually one bubble overshadows the last bubble, so it wouldn't surprise me if this one breaks $50 (to match the $48 from the 80's) Either way, I don't see silver bullion as a great investment... Even at $40, if you bought and held silver 30 years ago, you'd still be losing 20%. |
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Pillar of the Community
 Canada
9865 Posts |
Bought 100oz.@ $11 sold @ $32
No regrets
Most of the gains lately have been due to weakness of the US dollar ,as someone here already posted it's about $38 in Canadian or Australian
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Valued Member
United States
362 Posts |
Sivler is 40.46!
I dont know if I should be happy or worried, lol
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Valued Member
Canada
442 Posts |
yes I should clarified, its $40 USD silver :P
I guess it begs the question, is silver going up? Or is the USD going down?
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Pillar of the Community
Canada
834 Posts |
I believe silver is going up
and the US dollar is going to tank
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Valued Member
Canada
442 Posts |
tanking it is. US index is just barely about 75. Scary scary times.
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Pillar of the Community
United States
3184 Posts |
Lets guess when it will HIT the BIG 50!
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New Member
United States
23 Posts |
We're in a dollar bubble. Silver is going up because stocks are being manipulated due to the Fed's QE and there's no safe investment to convert cash into besides metals and commodities. Treasuries aren't even safe anymore due to a looming government shutdown and failure to raise the debt ceiling.
The inevitable correction will only come when and if the U.S. gets its act together. Sorry to be U.S.-centric, but we're talking about the world's largest economy entering the first phases of bankruptcy.
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Pillar of the Community
United States
667 Posts |
It is nice to see Silver currently at $40.64. I remember a few months back when some forum members were quick to sell theirs at around the $24 level. Of course they made money since they bough it at between $8 & $15.
I was different as I choose to make large investments in the silver market though the price was what I consider high. The gamble has paid off since my return is about equal to what they got when they sold.
Now the real gamble is do I hold out a little longer. Do I still buy? I did buy a few weeks back and never though I stood an opportunity to make anything but well I am glad to say if I sold it today I would still make a dollar an once after fees.
My gut tells me it will reach $50 so my buying threshold right now is $45. However something deep inside me tells me it will reach $90.
They say Silver is not an investment because of the type of market and no dividends. However it is very hard to ignore the sizable profit that can be realized from Silver that I just bought back in September and October.
I have never doubled my money in anything in under 6 months until now.
Then again I could wake up on Monday and loos all the gain that I am so very happy with today.
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Valued Member
Canada
442 Posts |
^indeed.
It is getting harder to pay for 1 oz maples, even though in the back of my mind, the REAL correction of silver still has a fair ways to go.
I think the important thing is to have a good exit strategy, whether its to trade in for Gold, real estate, or pay off your debts.
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Replies: 43 / Views: 4,262 |
First Page
Posted 04/08/2011 10:33 am
