| Author |
 Replies: 25 / Views: 3,606 |
|
Pillar of the Community
United States
3670 Posts |
This is getting a bit ridiculous, as I have just been in this for right at 3 months nearly, and silver has jumped from like 26 an some change an oz to 43 dollars even at one point today, and I have not checked the 24 hour spot price yet....
Sixteen bucks increase in three months, which is right at $5.33 average per month....
If silver stays on this pace and I don't see how it could every month until the new year, but with the Larry Moe and Curly running the US government and killing the dollar cent by cent anything is possible eh, so lets not rule that out. But if it does remain on this pace, we are talking say $45 an oz by months end, and 8 more months at $5.33 a month you would have $42.64, so if you add that to the $45 by months end, you would have a total of $87.64 by years end....
Man, I wish I had waited a bit longer to guess in Hybes silver contest, and by the way it just ended back on the 15th, so every one's answers are locked in now, should be fun to track those numbers each month.... Edited by Silverhawk74
04/16/2011 01:28 am
|
|
|
|
Valued Member
United States
287 Posts |
quite a run, huh?
I've always been bullish on silver, but I am surprised at this pace. Honestly though, I don't see any reason for a major correction that would stay down for long....we'll see!
|
|
Pillar of the Community
 United States
3670 Posts |
Yeah Jimineez it is gonna be a fun ride and fun to follow from here on out.... By the way, I checked 24 hour #'s and silver is up another nickel to $43.05, I know it is a shocker, " Oh, this is the biggest one I ever had. You hear that Elizabeth? I'm coming to join you honey! Silver just passed 43 an oz, my heart can't take it  , I am comin home!".... Didn't ol Mr. Sanford say something along those lines.... Edited by Silverhawk74
04/16/2011 12:38 am
|
|
Bedrock of the Community
Australia
21788 Posts |
This type of market is sentiment driven. Sooner or later, a huge correction will happen.
I am worried about what damage the general commodities market correction will do the the economy.
I have lots of silver, but that is only minuscule to to the implications to the impact on our ability to earn a living.
|
|
Pillar of the Community
United States
3670 Posts |
I think a huge correction is currently what you are seeing, back toward that 1 to 16 ratio it has been throughout most of history, long overdue thanks to silver suppressors like JP Morgan and other factors....
Edited by Silverhawk74
04/16/2011 12:51 am
|
|
Pillar of the Community
United States
3670 Posts |
And with gold setting at $1486, that means silver should be setting at $92.87, so we got a ways to go yet. And that seems like the time to sell to me for you that have been looking for the answer to that 64,000 dollar question. Quote the Silverhawk never more, 92 bucks and some change, he he he, rof  ! Only problem with that formula, is gold keeps going up as well, so sell if you must when it reaches 16 to 1 once again.... Edited by Silverhawk74
04/16/2011 12:53 am
|
|
Bedrock of the Community
United States
10982 Posts |
A lot of people thought gold would never hold $1,000. I could see silver settling in the $50 range this year very easily. I'm shocked. Never thought we'd go over $40 this fast.
|
|
Pillar of the Community
United States
3184 Posts |
never thought this fast either and never thought I would see $50 silver.
|
|
Pillar of the Community
United States
3670 Posts |
Well guys, I would say I am one of the most optimistic of all on this forum, and lets be honest, that is just naive inexperience to the coin/bullion hobby, and my general personality, a bit of a dreamer if you will, and I never thought it would excel this fast either.... Mkman123 you are seeing 50 plus dollar silver right now as we speak. Look no further than the 1 oz silver rounds or bars that end on ebay in the next hour or so, even the junk of the junk. If it is .9999% it is drawing 50 plus bucks after shipping, and why even list a shipping, the bidders will push it up a couple bucks more if you offer free shipping, as it all comes out in the wash so to speak.... Edited by Silverhawk74
04/16/2011 01:20 am
|
|
Pillar of the Community
United States
3670 Posts |
Another point, I recall members a few weeks back saying they could now feel comfortable buying some high over spot silver items now, as the number creeps closer to those items, and I really didn't understand that fully so to speak.... Now, it is clear to me, I bought my newest piece last night, a 1 oz lunar silver goat from 2003 for 72 bucks. I have 7 of the 12 now of that set, and it really makes me cringe to buy them, via the high amounts over spot. But figuring the bottom of the barrel 1 oz bars and rounds sells for 50 an oz on ebay now, I don't feel dumb at all for grabbing that nice goat an capsule for 72 total, as some dealers don't jack up their already high priced buy it now items, even sometimes as silver creeps closer to their prices. If you look for the lunar goat 2003, you will see most ask more for it, often a bit over 100 even, perhaps as high as 125 seems like. So pretty happy with that buy, and it should always bring that or more, unless the wheels come off this wagon, which would mean the economy and debt would have had to had a 180% swing around, and that would be a good thing eh.... Edited by Silverhawk74
04/16/2011 01:35 am
|
|
Pillar of the Community
United States
1150 Posts |
I'm surprised that others are surprised by how fast silver has gone up. Factor for inflation and we are nowhere near the 1980 high. I am surprised that with all the economic turmoil, debt situations around the world and riots/wars that silver isn't HIGHER than inflation adjusted historic highs.
|
|
Pillar of the Community
United States
2335 Posts |
I understand people wanting to talk about silver not yet reaching the inflation adjusted historic high. The problem with that logic is that the historic high most people use was created through market manipulation. That makes it an "artificial" high that isn't good for comparison purposes.
|
|
Pillar of the Community
United States
648 Posts |
I woke up asking that same question. $43 dollars? Really? It is bittersweet because just a few days ago I bought at 41.25 - why didn't I buy more? The biggest question I ask myself is correction. When will it happen? If it does, I would consider it a sale on PM and I will pick up more. I am in this long term. Good luck.
|
|
Pillar of the Community
United States
1064 Posts |
Imagine being a dealer, and trying to buy & sell each day, dealing with customers that also hope to make a profit, and trying to stay in business. Who do the dealers sell all the stuff they buy from the collecting public. Other dealers, wholesalers?
|
|
Pillar of the Community
United States
4333 Posts |
JackB, mostly the dealers mark it up and sell it to other customers.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Valued Member
United States
320 Posts |
This whole thing makes me want to cry. About 3 years ago, I just had a real strong urge that we NEEDED to buy silver. I just had a "feeling." I even talked to the wife about it, we checked out books from the library, read up on it, everything... We were extremely close to doing it, then the wife suddenly decided we couldn't afford it as our jobs were both iffy.
Silver was at $12-15 an ounce at that point, and we're both still employed @ the same places.
|
| |
Replies: 25 / Views: 3,606 |
Posted 04/16/2011 12:32 am
