Sultan Pepper
Member
MOON
Will silver break $30 US tonight?
- Thread starter errol43
- Start date
Matthew 26:14
New Member
commodities have been rising today, dont know there's anything special why silver/gold are on the move other than going with the general commodity push.
I am hoping it breaks $30 on Friday after the BLS releases the new job numbers and they will be terrible - oh what a suprise !!! Everyone will use them to prod the Bernanke into action.
"Press the Button Ben !!! the one marked QEIII right next to the one marked Titanic and before the one marked Oh Sh*&#t what have I done ! "
Higher prices are now ahead if it is not this Friday it will be the next or next thereafter. Does it matter if your holdings are in PM ??
"Press the Button Ben !!! the one marked QEIII right next to the one marked Titanic and before the one marked Oh Sh*&#t what have I done ! "
Higher prices are now ahead if it is not this Friday it will be the next or next thereafter. Does it matter if your holdings are in PM ??
Matthew 26:14 said:
Good point.
Might be simplistic, but plotting one month of Silver in terms of the CRB Index (commodities index) suggests that silver isn't yet getting much traction relative to run-of-the-mill stuffs. The 3 year weekly chart is interesting though - it suggests to me just another big consolidation process - like for silver or gold against the dollar.
Gold however is showing more strength than silver recently against the broad commodities. Haven't posted that one ($GOLD:$CRB)
When I made the post will silver get to $30 tonight was because I have come to the conclusion that there have been a few changes that will tilt silver into an upwards spiral.
1. Iran looks like it is about to counter the USA sanctions against them by target hostile shipping in waterways close to Iran.
2. MSM is reporting that the price of commodities are being manipulated and if the powers that be think that an investigation could be the order of the day, they might refrain from rigging the market as the silver market has been named as an area of concern.
3. The lending scheming between banks in the UK could cause a sharp downturn in stock markets which in turn could see a rise in silver prices.
With these three scenarios in place, it would only take one to make $30 a reality.
I am still going to stick by #$30 in the very near future..Obviously I was wrong in the very short term but in this game it is better to be in too early than too late. It did look promising for a while and silver did gain and it has held most of those gains.
I don't go on charts too much but rather world events such as financial/national disturbances that involve the USA.
So in stating my position, I will still say that silver will go past $30 soon.
Regards Errol 43
1. Iran looks like it is about to counter the USA sanctions against them by target hostile shipping in waterways close to Iran.
2. MSM is reporting that the price of commodities are being manipulated and if the powers that be think that an investigation could be the order of the day, they might refrain from rigging the market as the silver market has been named as an area of concern.
3. The lending scheming between banks in the UK could cause a sharp downturn in stock markets which in turn could see a rise in silver prices.
With these three scenarios in place, it would only take one to make $30 a reality.
I am still going to stick by #$30 in the very near future..Obviously I was wrong in the very short term but in this game it is better to be in too early than too late. It did look promising for a while and silver did gain and it has held most of those gains.
I don't go on charts too much but rather world events such as financial/national disturbances that involve the USA.
So in stating my position, I will still say that silver will go past $30 soon.
Regards Errol 43
Hi Errol
I don't think any of those political or economic matters have much influence. Today we don't have a market of supply and demand in PM particularly silver. Paper contracts rule at this time. The only thing driving markets is money printing (QE). Anything that will likely increase the chance of QE will increase PM prices. So if the job numbers are shocking that will increase PM prices as QE inches closer. I agree with you that $30 silver is close but I think it will be driven by Central Banks. That is just my opinion. Thanks for the great post.
I don't think any of those political or economic matters have much influence. Today we don't have a market of supply and demand in PM particularly silver. Paper contracts rule at this time. The only thing driving markets is money printing (QE). Anything that will likely increase the chance of QE will increase PM prices. So if the job numbers are shocking that will increase PM prices as QE inches closer. I agree with you that $30 silver is close but I think it will be driven by Central Banks. That is just my opinion. Thanks for the great post.
G
Guest
Guest
This little move down is good, like a slingshot. It's a fleeting moment in time for precious metals.
Au-mageddon
Active Member
Nope
Just start stacking supplies now until end of year as they will become priceless!
I know this won't be popular but I am sitting here staring at the chart trying to will the price to go down below $20 so I can buy but it doesn't seem to be working.......
If it hits the 25's I'm buying more!