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 Replies: 41 / Views: 3,809 |
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Pillar of the Community
United States
543 Posts |
Do you think the price will decline again soon to maybe $15-$20 an ounce once the economy recovers? The price has fluctuated heavily since the end of the Silver Standard.
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Valued Member
United States
458 Posts |
Nope. I say its gonna go up up up!
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Pillar of the Community
 United States
543 Posts |
I should ask this question a little more clearer because I am certain too that silver is going to go up. Will be $100 an ounce in eight years, but before it keeps going up will it test any lows like the $15-20 range which was record territory just a few years ago.
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Pillar of the Community
United States
2734 Posts |
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Valued Member
United States
458 Posts |
Eight years you think itll hit 100? Thats kind of a long time.. :P
Idk about it hitting any lows like that, I think the past week was a low, and now its gonna go up again.
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Pillar of the Community
United States
4008 Posts |
While that is always possible, a move of that kind would almost certainly require that the US dollar become considerably stronger than it is today. If we look at the politics of the US debt, Quantitative Easing, rising unemployment, falling GDP, and much else going on in finance and the economy today, then that seems unlikely to me.
The European debt problems will have an effect on the US, so whatever happens with the PIIGS countries will be a problem here too. Add to this the problems in Japan and the middle east and it would seem a good bet that silver prices will not be declining to this extent any time soon.
Even after silver fall back from $49 a few months ago, there was strong price support for it at the $34 or so level. It is pushing $40 now, so is showing some strength. Gold has been very strong lately and as gold rises, it is likely that the other PMs will as well.
Additionally... the real question for the immediate future is whether the economy will recover at all, let alone how strong it will be. The economists keep telling us that, technically, we haven't been in recession since sometime in late 2009. I've been around a while and have seen a number of recessions. This is not like any of them. A deep recession with persistently high unemployment is called a depression, not a recession. A typical recession lasts about a year and then the economy rebounds, adding jobs, and sometimes making new highs in the process. The depression of 2008 still lingers. The Great Depression of 1929 was supposedly over by 1935 but its effects lingered until the 1940s and WWII.
If you are curious about what is really happening with the US economy, check out the shadowstats web site sometime. It is primarily for subscribers but there are also some things that you can view for free that are well worth reading.
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Pillar of the Community
United States
830 Posts |
Quote:
... but before it keeps going up will it test any lows like the $15-20 range which was record territory just a few years ago. Silver has very good support in the area of the May lows. IMHO you won't likely see the $20 range again.  They threw just about every thing they could at silver in May and that May low looks solid technically speaking. |
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Pillar of the Community
United States
543 Posts |
Silver has done some wild things. It is easy to forget it hit the $20-an-ounce level in the early 1980s and dropped to $5 an ounce in the late-1990s!
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Pillar of the Community
United States
2049 Posts |
Quote:
Silver has done some wild things. It is easy to forget it hit the $20-an-ounce level in the early 1980s and dropped to $5 an ounce in the late-1990s! Dit it hit the $20 level because of the Hunt Brothers (when it got all the way to $50) or are you talking about a different event? |
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Pillar of the Community
United States
4541 Posts |
i thiink it will drop back eventually
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Pillar of the Community
United States
543 Posts |
In 1980, the median price of silver was $20.63 an ounce. In 1998, the median price of silver was $5.10 an ounce. The economy has not improved since silver had has its run. A strengthening economy can result in weaker silver. But overall silver is going to always go up by a fact of life, since there is only a set amount of silver existing and whenever we use it there will always be less silver today then yesterday. Copper is the same way, but that is a whole 'nother story for another thread!
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Valued Member
United States
458 Posts |
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Pillar of the Community
United States
860 Posts |
Yet if you look at the Dollar index (DX), the dollar is higher than when the latest fall of silver occurred. It isn't the dollar decreasing that is causing the increase in PM, but the increasing uncertainty of the foreign side. I watch this chart as much as some of you watch Kitco. http://www.cnbc.com/id/38451750It is called the Sovereign credit default swaps. What is really is , is the chance of a country defaulting on their sovereign debt, and it can change daily. This page mainly looks at Euro and US. It is an insurance cost if you have a debt coming to you from a country, how much you have to pay to insure getting it. ( based on the 5 yr. notes of a country). All currently are up since the end of last week, but notice that the US was up the least, and is deemed to have a chance of defaulting less than powerhouse Germany ( a month ago Germany was more secure than the US) But look at the PIIGS, this is what is currently affecting the PM trade most in my opinion, rather than the US. Jim |
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Pillar of the Community
United States
3670 Posts |
I will bend over backwards and kiss all your digital backsides, if silver ever hits 20 an oz again....
And if it does, man I am gonna buy all I can....
Inflation, supply, and industry will keep it going up, even if the economy recovers I'm amateur O.....
Edited by Silverhawk74
07/18/2011 12:16 am
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Rest in Peace
United States
9104 Posts |
silver's likely to hit 100 long before 10-20.
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Pillar of the Community
United States
1150 Posts |
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Replies: 41 / Views: 3,809 |
Posted 07/17/2011 8:57 pm
