Hello, Silver spiked a lot today... 19.45 $ right now. That's roughly 1+ $ spike since yesterday... Is silver bottoming or is this just another "small jump", part of a longer oscillation? [youtube]http://www.youtube.com/watch?v=Uhdajt0C1sE[/youtube]
I think sliver will rise a little more(us$1-2, maybe even $3) over the next couple weeks then settle down again to this level or even lower, happy financial new year!
It's normal fluctuation. I'd be surprised if it trends up by the close of the day here in New York but it certainly could and that in itself is nothing out of the ordinary.
I read somewhere that silver is like gold on steroids....expect lots of volatility... But huge swings opens up the potential for us to take huge gains.
Yes, it's the swing that can make you rich. If you know how high it will go, if you know when it's best to exit. Also not that selling high is very hard. But right now, the traditionally volatile silver is more stable and gold is very very volatile. Strange period, indeed... :/