Woohoo, silver is bouncing back, up $1.24 so far this morning in Aust! Did we see silvers' shiny bottom yesterday???
I was thinking the same ironwood. I was gonna buy today but saw the rise and decided to see what happens when the markets reopen.
Seen this so many times over the past few months. It could get smacked down even lower into the teens but I still feel upbeat about next week being the start of a steady recovery.
I hope so... The only bright side of this drop is volatility. It beats the sideways action and last time the metals took an upswing we saw regular 1.00 + /- swings daily. Thats what we all need to see to be back in the green. I was watching BNN commodities today and the experts on there were bullish on oil mainly because prolonged qe beyond this year and a qeakening of the US dollar. If thats true we should also see gains in pms.
Much of that bounce we Aussies felt is attributed to the AUD falling almost 2 cents (1.5%) against the USD. From the Days top of 92.8 it ended up going down to 91.11. I am also perceiving out there that some people are anxious for silver to go higher so any price bounce is seen as reason for hope.
Silver is about to either go up, or down, however my strong inclination is that there's a 50/50 chance it will go up, followed by a 50/50 chance it may go down. I've been making these 50/50 predictions for some time now, and I have never been wrong.
