Silver Has A Foothold....... - Coin Community Forum

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Author	Replies: 9 / Views: 1,606
LowLife Valued Member United States 368 Posts	Posted 05/06/2011 12:12 pm After several days on the decline....silver has found a foothold on it's slippery slope downward. Currently, silver is +0.81. I would like to see it in the high $20's...but it appears the low $30's is the bottom for now. I need to finish up my ASE Proof set....and I'd rather not pay $80 each. I miss the days (last year) of paying $50 each. I guess I should have loaded up more then! Report this Post to the Staff

mkman123 Pillar of the Community United States 3184 Posts	Posted 05/06/2011 12:24 pm I hope next week it does well! Report this Post to the Staff
swrbxxx Pillar of the Community Canada 834 Posts	Posted 05/06/2011 12:31 pm Silver will fall some more! Next week Will he up and Down all week then watch the rise Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 05/06/2011 12:36 pm There has been support around $35. Will it fall under $30? Very likely that it will. Will it get back over $40? Very likely that it will. Volatility is high but the support at $34-$35 is good to see. ANA #R3154474 Report this Post to the Staff
mitchhailey Pillar of the Community United States 1150 Posts	Posted 05/06/2011 1:25 pm It is amazing to me that the true value of physical silver isn't really known. Everyone is following this roller coaster of 'paper' silver prices, which are manipulated by very large banks (who are in bed with the fed) and trade markets, yet my on-the-ground experience is telling a different story. The 'price per ounce' does not reflect the fact that my local shops are essentially sold out of silver. And no one is selling the physical silver they have, especially coined silver. Bars are easier to find but my dealers won't buy them. They are after 'junk' and the like. I've walked into these shops and had customers ask ME for dimes/quarters, etc... The 'short supply' scenario is no lie. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 05/06/2011 1:50 pm Quote: Volatility is high but the support at $34-$35 is good to see. - BH1964 Yes, it sure is... and will likely continue to be so in the coming weeks and perhaps months as well. Silver price support in the $35/oz. area is good to see but will it survive there when the CME raises the reserve requirements yet again, as is rumored, on Monday? I'm thinking probably not. If this occurs, then it is likely that a $30/oz. price support level will be tested. The good news is that despite the paper games being played in the silver market, physical silver remains in short supply and that should help steady the price some. Report this Post to the Staff
spaceace Pillar of the Community United States 797 Posts	Posted 05/06/2011 1:58 pm I think after a small uptick today it will drop a bit more before stablizing for a bit. I know it won't be truly stable for any length of time in the near future but I think the price will slide a few dollars more before holding on at the very low $30's (and quite possibly the mid-to-high $20's) for a fair amount of time. Report this Post to the Staff
Typesetmaker Valued Member United States 97 Posts	Posted 05/07/2011 02:31 am I hope it does well next week as well.Lost a lot on paper this week! Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 05/07/2011 02:53 am If the speculators have moved on, which I suspect they are doing so right now, silver won't rise above $50 in the foreseeable future. I think silver is due for more rational pricing. Report this Post to the Staff
Ozzie Valued Member Cyprus 349 Posts	Posted 05/07/2011 05:23 am only time will tell........... Report this Post to the Staff
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