I would prefer to see silver back at sub $20 range this year so I could buy more at those very low prices. However I think it is more likely Silver will rise to the $29.00 - $34.50 range before 2014. On a side note on the Kitco chart today said silver had jumped +6% against the Indian rupee! A cheap beach holiday in Goa anyone
^ well cj I'm just sharing my thoughts in my thread. I try to forcast where the actual price is heading and so far I am sure many here appreciate this as I have been fairly accurate.
Thank you for the thread. The rupee dropping is positive reinforcement that PMs are a hedge against inflation. All that gold buying by the more astute Indians has preserved some of their wealth. I agree with you that silver will rise but believe that it won't stop until Easter. I have been somewhat disappointed that Ag is rising but I managed to exhaust all my fiat buying on the dip so the rise justifies my actions but limits future purchases. Notwithstanding this, I intend buying while sub AUD30 and then reassess.
Thanks also Menot. I fully agree and I see several factors making this a reasonable assumption. My greatest concern is the inevitability of a new Middle East conflict which will undoubtedly send commodity prices sky high and quite likely drive currencies lower. I have done all my silver shopping for now and managed one final significant purchase just before the spot price started moving northwards so I'm pretty pleased with myself. I am just going to sit back for a while now and wait for the next dip.
If the US starts military action in Syria, then silver will go above $30. I truly believe that the US will start bombing soon and the stock market will tank while precious metals and oil will rise sharply. I'm buying all the silver that I can right now, because I think an easy 25% gain from here is a lock within the next 3 months.
'If the US starts military action" ? I hear today, to my amazement, that Speaker Boehner is backing Obama completely. I thought Congress would have thrown this out and the threat may have been averted until I heard this news, of course the President could have still acted against the wishes of Congress and likely would have attacked anyway If one of the senior Republicans is openly backing a war vote already it seems a certainty now that Congress will give the President his war. This is absolutely terrifying.
I say "if" because I never like to assume. Unfortunately, our government is hell bent on starting wars because it is good for the rich 1%. Wealthy oil men and PM investors will reap the rewards of spiking prices due to war. Yes, it is terrifying that Obama was/is ready to go this alone without congress (if they vote against it) and without allies. In my opinion its time to sell your stocks and buy PMs now.
I agree...It was mid 30's last year, and the world economy is no better off. I think $24USD is a steal, and it will continue to rise, especially since 90% of stackers only want the price of silver to plummet and will therefore, never sell.
lol hardly it costs less than half of that to get it out of the ground $24 is a little high for its proper value imho
no it cost about the same then which is why I have been saying for a while now it is way overpriced and wont be heading to da moon any time soon and it has steadily been doping over the last 2 years.
Silver is worth whatever the charts say it's worth. 2011 was a parabolic rise to a stupid, obviously inflated price. Given production costs there is no way it is worth $50, but on the other side of that, it's probably worth more than $17-$18. Anything in the $20-$35 range is fair given where we are today in my opinion.
I agree it is worth more that $17 and no where near $50 -- and that is why it came down almost as quickly as it went up. low 20's is where ($21-$23) I see its true value being.
