Time to reminisce about $30 already. Might be interesting to look at some of the narratives the media is using to explain the rise: "silver hit $40 an ounce for the first time since 1980, as a weaker dollar and concerns about inflation sent investors piling into precious metals." http://www.reuters.com/article/2011/04/08/markets-precious-idUSL3E7F80N320110408 "Silver sets new record on high consumption" http://www.business-standard.com/india/news/silver-sets-new-recordhigh-consumption/431372/ "Silver continued its winning streak and advanced by 0.69% to Rs 60,863 per kg in futures trade today, taking positive cues from global markets amid rising spot demand. Analysts said besides a firming trend overseas, as financial turmoil in Europe and fighting in Libya bolstered its demand, domestic demand at the spot market also pushed silver futures prices upward." http://www.business-standard.com/india/news/silver-futures-upglobal-cues/131528/&tp=on "The survey showed that investment demand continues to be a key driver of silver, with total silver investment rising 40% in 2010 to 279.3 million troy ounces. Yet at the same time, soaring prices have not choked off industrial demand, which is very strong in areas like the electronics and photovoltaic sectors." http://business.financialpost.com/2011/04/07/silver-still-has-plenty-of-upside/ "DEMAND for silver rose 15% last year to the highest in at least 20 years as investment demand hit a record and industrial use rebounded from a five-year low, researcher GFMS said yesterday." http://www.businessday.co.za/articles/Content.aspx?id=139661 "World Silver Survey: Investment, Industrial Demand Surge In 2010, Boosting Prices http://community.nasdaq.com/News/20...sting-prices.aspx?storyid=70043#ixzz1Iuefu2ro There's a mix in there.
I reckon big 6-8US dip then hardcore rally up between 45 and 50. Faster than January to now, mind you I was waiting for 33 three weeks ago, who knows I guess.
$40 silver is peanuts. Wake me up when it gets to $400, which is approximately the inflation adjusted price that it reached in 1980 ! Don't wanna sound like Captain Obvious but the value of an ounce is still the same... an ounce ! It is the price in fiat money that changes. When the $HITF and when real value of things will become apparent, like in tangible assets etc, then the value of an ounce will be real. Perhaps back like to the old days when a good house was worth about 10 ounces of gold, a castle 100 oz, a night in town with friends an ounce of silver etc etc... Although, I can't see those in Power nowadays just letting that happen without a fight... We'll see, but prepare yourself to be shocked and be ready to have to protect the just rewards of your smart choice with what's available to you, and good luck with that.
Come back & talk to me when we see triple digits. There will be blood on the streets from the bankers & the very lower class. Do not be so happy with the rise as people are hurting. Just buckle up & try to enjoy the ride thru the coming finanical MAYHEM. Got Honey???
In Turd's latest vid, he reckons Blythe & Co will let silver run until $40, then their goal is to take it back down towards $36. [youtube]http://www.youtube.com/watch?v=mOnKAh1L9e8[/youtube]
My lurking days are over. (Been over 6 months) As another user posted ~3 weeks ago "wake me up when we reach $40". Got into PMs because I had to get out of USD in early 2010, and didn't want to sit and hope that the AUD fails - would feel very contradictory as a local :/ Feels better to be in PMs and to hope the AUD rises I found my own way to PMs, despite some people saying it was too expensive at the time. Enjoying the ride so far, even on the dips.
So when do we start shorting JPM ?? The price just seems to hold and hold http://au.finance.yahoo.com/echarts...rosshair=on;ohlcvalues=0;logscale=off;source=;
Thanks, shiney, stedlar. The handles got a lot to do with the fact my account receives loads of junk mail. It's all part of the plan though *keeps an eye on the platinum price*
As i pondered what to do while at the local sitting over my umpdeanth pot quietly celebrating a small milestone($40 Silver) should i sell some, i mean i offloaded 200 odd oz's at $30, should i go with my trend, another couple 100 at 40 when i got into a discussion with the publican(ex RE agent), the ultimate sheeple, he raved about me owning my own home being the australian dream, and theres no bubble, it always goes higher, blah blah blah... and i thought to myself, hang on, they haven't woken up yet, enjoy the ride, it's gunna go a lot higher yet. 2700 oz's x (to the moon) is a lot more than $40 The day he says buy metals or houses are to dear is the day i sell, haha
Welcome jnkmbx "Enjoying the ride so far, even on the dips" Very good... the dips are part of the momentum to get the price moving higher. Too much velocity will see the price running out of steam and suddently crash.
