Will Silver And Gold Open Up Or Down Tonight?

I think it will go up myself. I'm not selling anything and I'm holding a fair bit. I'm just entertained by it I suppose.

Asia markets open around 5 PM Eastern. This could be a pretty wild week ahead. I have no ideas which way it's headed but one thing is for sure. The investment world will be watching closely. I have to drive all the way across the country this week so I'll only catch bits and pieces. Drat!

Considering just how fast the silver price has come up in the past 12 or so months, this is certainly a possibility. Not sure how likely it is, though. Whatever it is that powers the price of silver these days will have to be stronger than the rate of decline in the US dollar, IMHO. Although that will contribute to the rise in silver prices, we ARE talking more than a double from the current price. A genuine silver shortage in industry could provide some real lift to the price with maybe a little extra added on top of that due to the falling dollar. Hmmm... my guess is $75 by the end of 2011.

Silver dropped $5 dollars on open half hour ago. Asia is profit taking.
Still down to $43.75 as of 7:36 EST.

Profit taking every other week is a sign of an unstable bubble. I think the dire predictions of $100 or higher are possible, but not really likely. Especially if the Fed really ends all their programs in June. Look for plateau of even decline in July August.