WILL SILVER HIT $100 BY END OF YEAR?

[malachii]

Blanket statements like "Cash is a better investment than Silver/RE/Gold" are stupid and don't make any sense without specifying a time period.

This was pretty much what I was saying. You specified that silver was better than cash during the last 12 months and I agree it was. I was just highlighting that picking a period could prove any point which is why I dont give blanket statements about one investment being better than another. It has been the whole point that I have given up making in the real estate forum. To say that real estate/silver/gold/vintage cars/antiques/cash etc is a bad investment is too much of a blanket statement. There are so many variables.

Probably the one almost blanket statement I would make is that cash is very rarely a better investment.

malachii

 

[renovator]

Blanket statements like "Cash is a better investment than Silver/RE/Gold" are stupid and don't make any sense without specifying a time period.

This was pretty much what I was saying. You specified that silver was better than cash during the last 12 months and I agree it was. I was just highlighting that picking a period could prove any point which is why I dont give blanket statements about one investment being better than another. It has been the whole point that I have given up making in the real estate forum. To say that real estate/silver/gold/vintage cars/antiques/cash etc is a bad investment is too much of a blanket statement. There are so many variables.

Probably the one almost blanket statement I would make is that cash is very rarely a better investment.

malachii

come on malachi dont dis my favourite thing il cry :

 

[fishball]

By extrapolation of what happened in the last hour, clearly we will have $100 by the end the year

/sarcasm

 

[Jislizard]

From what I was reading, silver and gold are considered bad investments.

The example usually given is of the story of the Roman Legionnaire getting paid a gold denarus and being able to spend it on a meal, a new pair of sandals and a belt and how that same coin today would get you a new pair of shoes , a meal out and a belt as well. Not sure if it is accurate but it is used to show that the value of gold has remained steady over the last 2000 years.

Silver was always sold to me as a hedge against inflation. It was meant to match inflation rates and allow you to convert it in and out of fiat without any significant loss.

The only investment to be made was from numismatic pieces.

This was before massive speculation over the past year when you could in fact use it as an investment and make money providing you know when to get out.

Yep thats true...but for a Roman Legionnaire, one Gold denarus equaled approx 16 Silver ones...last check was around 40 today...second there both a hedge against inflation and SHOULD keep with it...IMHO it hasn't...so has upswing...lastly with a financial currency crisis,there would be a flood to PM's or other assets of intrinsic value - likely driving or overshooting the price on basic supply/demand...more to this but just posting a few to make the point...

Thanks for the extra info, never considered the Gold : Silver when I read the story, I think it was in the Daily Reckoning or something similar.

However I have 17kg of silver and only about 2.5 sovereigns so I got lucky and picked the right horse to back.

Still happy to hedge with silver, not going to be relying on a flood to PM due to a financial crisis as you can't trust the masses to do the right thing and I would much rather there wasn't a crisis of any sort anyway. I would expect joe public to put their money elsewhere, even if it was into toasters, before they put it into silver.

 

[VANGBAC]

My thoughts are that it will hang around high 30s- mid 40s for a while yet.Momentum slowed with the pull back and I think it will seesaw for a while with profit taking on the upward moves and buying in any dips. Just my thoughts. Of course excluding the dragon.!!!!

 

[Silverthorn]

My thoughts are that it will hang around high 30s- mid 40s for a while yet.Momentum slowed with the pull back and I think it will seesaw for a while with profit taking on the upward moves and buying in any dips. Just my thoughts. Of course excluding the dragon.!!!!

A move into the 40's again would be nice.

comex inventories are still dropping which should help support the price.

http://jessescrossroadscafe.blogspot.com/2011/06/gold-daily-and-silver-weekly-charts_07.html

 

[of one mine]

This yank thinks it will at least do 50. but 100. by years end is possible if the conditions are right. Here we have slow job growth for the rest of the year and economic growth is stagnant. Petrol will keep things dragging too. I see PM prices stabilizing but yes the manipulations will persist as they have in the past. The only thing we have going for silver is the strong support is has now. If support had been like is was when the prices were around 9-13 we would be at 15 now.
My 2 pence
of one mine

 

[Ag]

This yank thinks it will at least do 50. but 100. by years end is possible if the conditions are right. Here we have slow job growth for the rest of the year and economic growth is stagnant. Petrol will keep things dragging too. I see PM prices stabilizing but yes the manipulations will persist as they have in the past. The only thing we have going for silver is the strong support is has now. If support had been like is was when the prices were around 9-13 we would be at 15 now.
My 2 pence
of one mine

Always good to hear first hand perspective from the other side of the pond...

I'll have to eat these words in the future some day, but keep harping this point - "The only thing we have going for silver is the strong support is has now" or in my words - "this is a buy time,not crazy chock the Credit card stuff, but buy"...

Gents - this has been going sideways for awhile now - if it doesn't break to the downside next week, me thinks there's only one other direction - not massive gains,but positive direction anyway...

Just my two three pence...