As everyone here knows silver traded at or around $4 for many years, After the price correction a few weeks ago it seems the silver price has found its bottom. I think we will look back in 10 years or even 20 years, And think gee " Silver was at a low point of $33-$36 for some time " And now its $100 or $200 an ounce. I cant see silver falling under $30 again, It may just be a slower climb to $50 then last time around. Good luck to all stackers !
Interesting... So what if we have GFC2 soon? You dont think Silver can drop to $15? I think Silver could drop heaps but I wouldnt expect it to stay low for too long. Am I missing something, or is what I'm suggesting quite possible?
AUD...... If GFC MK2 hits, I dont think people will be rushing into cash....Well not in the US or Europe. Sure they will sell stocks, But I think the money will go into gold & silver......Shotguns & Vegie patches too maybe....
We're getting pretty close to GFC2 now according to my tin foil hat. If I'm right, everything will start dropping sometime next week (or possibly as early as thurs/fri). There won't be any upwards movements except for small buy ups on the way down - which will be the general direction for the next few months. Let's see how it goes (Silver will definitely go under $30 during GFC2 - at least that's what I reckon)
I'd wager your tin hat is pretty well calibrated and agree that PMs are destined to drop as everyone seeks liquidity and pays down debt, while the US dollar gains on a flight to safety and the Canadian and Oz dollar drop. It goes without saying that longterm they will retain value, but in the meantime their dollar price will be lower. Does that mean we'll see 2012 Lunar Dragons available at $25 - I seriously doubt it.
Good question. Perhaps others would care to speculate. Well below parity with the US dollar I expect. You make a fair point, as the Aussie dollar drops, PM declines in AUS$ will be tempered. The $25 Dragon statement wasn't a prediction for silver btw, just a throw away comment. However, could silver go to AUS$25 - I don't think it impossible.
The Tin from your tin foil hat seems to have been 'minted' where the Bolivian Cats 99999 are made so far. It is getting interesting, i also am 'uneasy' about the this and next week.
to OP remember that silver was around $4 for many years not just a few months, i still think it will go below $30 before going up again and when we hit GFC2 it will definently go below $30. People will still flock to the US dollar but gold will be a bigger safe haven of choice this time. I dont think many people will be flooding into silver in a GFC situation mainly because most people out there view it as a volatile industrial commodity. In saying that ill definently be a buyer when it goes below $30 Aus
Its just my opinion , but i Think when/if things get bad enough and the demand for Australia`s mining commodities declines sharply , I can see the Australian dollar returning to 75c US ( economic misery for Australians ) . If the US fed successfully reduces or stabilies its debt by currency devaluation and then can manage to restore a certain degree of confidence in the US dollar to global investers , then i can see metals taking a major downward trend , albeit only temperory . If silver was to dip to around 25 US then we would have a spot of around 30 AUD , but once the US spot goes under the 30 US barrier , the panic selling may drive it lower. Just a possible outcome ,But i am always wrong ...
So whats going to happen now... Will it bounce off $36.80 again as Gold rises?... Will Gold and Silver both fall?... or will Silver break through $37?
Just realized jnkmbx that I've never asked you where your holding out during your coming prediction drop? Meaning what asset class have you parked your wealth in?
It's parked in cash (AUD) under multiple high interest accounts (no TDs). They all have a role, based on withdrawal speed and interest rate on offer. I've been building it up further by focusing on productivity over the last few months.
