If this long correction is over, and the odds are shortening more and more - a more accurate question is not Ag at $30 in 6/12 - but more likely $50 and a new high sustained. If the correction is over then $30 in 6/12 is probably a done deal. Have a great day all Gazza.
It's only my opinion but I think the GFC broke all the rules with regard to PM trends v currency & stock trends so the charts don't carry the same weight for predicting trends anymore. You're right, it seems to be more of a commodity now than a currency alternative. I do however believe that gold & silver will continue to rise over time. Personally I would like to see it stay low until the day I retire then magically quadruple overnight
It will be still bumpy ride, please don't expect to shoot up like rocket straight up to da moon. Down trend yes there will be some. You will never know. This one like other said have Plenty of Helium on them..
I was talking to a mate who is about 60? 65. When he was an apprentice to BHP as an electrician, they used to solder silver on contacts. They were given a bar of silver about 600mm long and about 50mm wide and pretty thick to work with. When they wanted another one, they just asked. They used to make surfboards out of the bars and wear them around their necks - standard practice - fully accepted by the company. Can you imagine that now? So, look at the difference 40 odd years makes - then think where Ag might be in the next 40? It is very possible - in fact I think highly probable that anyone now waiting to buy Ag at $20 will die waiting. If this long correction is over - silver and gold are not coming back to those low levels - ever. Both Ag and Au are due for a breather, but, they won't come near $1200 and $18 respectively if we are indeed in a new upleg. IMO they are on the way to new highs. If so it is probably good for all of us. Have a great day all Gazza
I hope that you did not put any money on that statement. It reached just over $28 today prior to retreating to $27.90 as I type this, and with Syria in some turmoil, upwards pressure appears to be assured.
I know a guy that keeps relaying stories about the kilos of silver solder he used to just throw away because it was considered so cheap. Now he buys kilos of 999 to invest. Reminds me - need to poke around in the old shed for silver solder - I'm sure there's some kicking around!
6 days ago Willrocks said: Currently AUD$27.82, only $2.18 to go. Up $2 in 6 days. At this rate next week = $30! The question that should be asked is: Will the naysayers sell at AU$30.......or will they just watch the rise and,well, continue naysaying.
