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Silver Has A Foothold.......

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Valued Member

United States
368 Posts
 Posted 05/06/2011  12:12 pm Show Profile   Bookmark this topic Add LowLife to your friends list Get a Link to this Message Number of Subscribers
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!
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United States
3184 Posts
 Posted 05/06/2011  12:24 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
I hope next week it does well!
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swrbxxx's Avatar
Canada
834 Posts
 Posted 05/06/2011  12:31 pm  Show Profile   Bookmark this reply Add swrbxxx to your friends list Get a Link to this Reply
Silver will fall some more!
Next week Will he up and Down all week
then watch the rise
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BH1964's Avatar
United States
10982 Posts
 Posted 05/06/2011  12:36 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
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
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mitchhailey's Avatar
United States
1150 Posts
 Posted 05/06/2011  1:25 pm  Show Profile   Bookmark this reply Add mitchhailey to your friends list Get a Link to this Reply
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.
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Ed_B's Avatar
United States
4008 Posts
 Posted 05/06/2011  1:50 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

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.
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spaceace's Avatar
United States
797 Posts
 Posted 05/06/2011  1:58 pm  Show Profile   Bookmark this reply Add spaceace to your friends list Get a Link to this Reply
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.
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Typesetmaker's Avatar
United States
97 Posts
 Posted 05/07/2011  02:31 am  Show Profile   Bookmark this reply Add Typesetmaker to your friends list Get a Link to this Reply
I hope it does well next week as well.Lost a lot on paper this week!
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sel_69l's Avatar
Australia
21788 Posts
 Posted 05/07/2011  02:53 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
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.
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Ozzie's Avatar
Cyprus
349 Posts
 Posted 05/07/2011  05:23 am  Show Profile   Bookmark this reply Add Ozzie to your friends list Get a Link to this Reply
only time will tell...........
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