Silver breaks $6, now where does it go?

byergo · December 30, 2003 7:40AM

I'm happy at $6 right now. Would be real happy moving toward $10!

merz2 · December 30, 2003 7:50AM

Wouln't hurt my feelings.

mgoodm3 · December 30, 2003 7:52AM

start warming up the smelter.

jeffnpcb · December 30, 2003 8:01AM

AND THE DOLLAR SINKS BELOW .80 EUROS!

dollardude · December 30, 2003 8:36AM

Silver? Everyone knows my opinion on precious metals (they stink), so I would dump it all now at this price, but PLEASE don't flame me. I know I am in the minority in this forum. I was fortunate to get to go to Europe in 2000, and it cost me next to nothing (a little over $2K for 2 1/2 weeks) because the dollar was so strong. Now it is so weak.

I think it will come back. When the euro came out, it was meant to be about equivalent to US$1, so it has a long road to recovery.

291fifth · December 30, 2003 8:52AM

There is no question in my mind that we are now in the midst of a selling opportunity for silver. I have seen several price spikes like this over the past 20+ years and each time it was wise to sell into the rising market. I don't see any reason why it will be different this time.

Outhaul · December 30, 2003 8:57AM

I agree with dollardude. There were TONS of greedy speculators who bought in late and were holding out for $50.00 an ounce and lost their butts. Get in, get out, take no prisoners...that's MY motto.

Cheers,

Bob

fishcooker · December 30, 2003 9:04AM

I don't have a crystal ball so I don't know if silver will go higher or not. I know that I don't know!

But I am smart enough not to sell into a rising market. Geez that reminds me of the guys who sold the Dow at 4,000 back in 1995, right before the greatest bull run ever!

I remember one idiot was shorting at Dow 6,000, because it "had to" be overpriced!

I'll keep an eye on silver and sell when the tide turns. No different than anything else. As long as I get $4.50 I'm OK, so no need to be concerned whether it's $5, $6, or $7.

The thing to be concerned with today is where to go with the money next, because we all know these markets may be good or bad for extended time periods.

MacCoin · December 30, 2003 9:20AM

the last time silver went shy high their was a lot of coins melted down is this what you want to see?

roadrunner · December 30, 2003 12:24PM

Silver is going to run and run hard over the next several years. Very few will have the stamina to hang in there though....hence very few will reap any rewards. No one said it was going to be easy to make money. So what if it has gone up in the past and then crashed.

As usual DD is preachin his anti-anything but real estate and CD's approach to investing. It's getting old hearing the same old story.
Silver will kick the hell out of RE and the DOW over the next few years. I too sold out of the Dow in 1997 at 7500. Rather than believing the "trend" I sold based on a "stupid number" that appeared to be "high." Same mistake many are now making on gold and silver. Yup, $400 and $6 is too high, better get out. I'm staying the course on PM's and coins. This is the big one Alice.

roadrunner

Deadhorse · December 30, 2003 2:16PM

I added several thousand ounces to my hoard about 3 weeks ago, just had a feeling.

I do think we will see a dip in late Jan and Feb and I intend to add a few thousand more ounces around then as well.

I love the folks who are bailing out early, keeps the prices near spot for me.

GOLDSAINT · December 30, 2003 9:34PM

This is just all to weird! We must be in some sort of adjustment period just before the World decides which way to go. I personally am not a paper person but all the experts say the DOW will go to 12,000 within a year and I believe them. Not because most of these companies are not already over priced but because the Baby-boomers want one more chance to grab at the brass ring in their IRA’s. If they continue pouring money in this market it can only go up, but there will be Hell to pay when they decide to go to income producing investments. When interest rates get back to around 6% look out! As far as the metals go I think they will become a permanent part of many investors holdings. I have several friends that are perfect profiles for a mid fifties upper management boomers. All of them have bought tens of thousands of dollars worth of metals the last couple of years, “ As Insurance”. They will not sell no matter where the price goes. This economy acts like an inflationary economy, but the government says we have none. Real-estate, Stocks, metals, collectables all are experiencing price increases. Several months ago I was buying American Eagles to build several sets, all the time I was buying I was thinking to myself this is dumb, why I am doing this. Most of the pieces I bought were in the $7.10 to $8.00 range, Kitco has these at $8.50 for common dates today. The only thing that I can figure out is that the Boomer group knows something is wrong here so they are putting some money into the metals market as a hedge, and since that market is very thin compared to the stock market it keep on moving up. As far as a big drop in the metals, I don’t think that is possible for anything but a short term profit taking swing. I think people are starting to buy for a long term hold and will use every dip to buy more.

SportsModerator · December 30, 2003 9:51PM

Silver will surpass $50. It will leave that figure in the dust.

fishcooker · December 30, 2003 9:55PM

I think the entire rise in PM, Dow, and Energy is due to the falling dollar. I read somewhere that the Dow is flat in terms of the Euro. Without doing formal research, if the dollar has fallen 20% to 0.8, then that would clearly make a Dow 10,000 into Dow 8,000 for Euro-based investors.

Remember that years ago OPEC agreed that oil would be no more than $28/barrel? Why is $32-33 OK now? My calculator says that todays $32 is yesterday's $26.

GOLDSAINT · December 30, 2003 10:21PM

Fishcooker, This is a very good point. We all tend to forget that these are World markets not U.S. markets and many people in the World are buying with expensive money. For some reason I just can't get this formula in this dyslecksic&%$#%$ brain of mine.

jim · December 30, 2003 10:23PM

Go figure! Right when I'm in the process of buying and taking about 200 oz of silver off someone's hands.

comp124 · December 31, 2003 1:15AM

I know this is a simple question, but I have no idea how to answer it.
Where would I go to sell my silver coins, I have, probably 3 or 4 lbs of foreign silver coins sitting around?
Anyone know a place in Georgia?
Thanks as always for the great information.

jbsteven · December 31, 2003 1:26AM

<< Silver will surpass $50 >>

SM1

Lay off the hooch (or at least pass some to Russ you boggart!) will ya!

bulloncoins · December 31, 2003 1:52AM

I've never seen the Spot Charts step like they did the last few days. I was wondering when we would see a little profit taking. Hold on. Let the burned out sell us their inventory. I'll buy all I can afford without any major lifestyle changes on a fixed income. I'll buy until $12.00. Then I have to make adjustments. We'll see who was right in a year or two.

nankraut · December 31, 2003 2:54AM

I FIRMLY believe that silver prices will do one of three things in the future: go up; go down; stay the same. Furthermore, I guarantee it.

Russ · December 31, 2003 3:14AM

<< but all the experts say the DOW will go to 12,000 within a year and I believe them. >>

Any time ALL the "experts" agree on anything, it's time to run - not walk - in the opposite direction. We are close to that in precious metals. The bugs are coming out of the woodwork in droves.

Hell, how good can any investment be that is hawked by Art Bell?

Russ, NCNE

Wondo · December 31, 2003 3:31AM

Silver has broken $6.00 agin - but in the other direction!!

Elcontador · December 31, 2003 4:08AM

As others have said, the more something is hyped, I run in the other direction.

dcarr · December 31, 2003 6:33AM

I certainly don't see "ALL" the experts touting gold/silver - in fact, far from it.

Of course, all the usual "goldbugs" are touting gold as they alwyas do.
Maybe they are just doing it a bit louder now.

But when I watch financial stuff on TV (like CNBC, etc.), they still spend almost
all of their time talking about stocks, promoting stocks, salivating over stocks, etc.
Once in a great while they'll mention metals. Yesterday they had an interesting
fellow on (forget his name) who was talking about precious metals. Just as he
was about to get to the good part, the commentator stepped in and said
"sorry we're out of time" and cut him off to go to a commercial. How rude !

wallstreetman · January 4, 2004 11:08PM

Well, it looks like your getting your wish!

drainbamage · January 4, 2004 11:29PM

Man, what was in that eggnog this year? I want the recipie!

Just enjoy the ride my friends. The precious metals prices have a mind of their own.

wallstreetman · January 5, 2004 12:51AM

Platinums not doing too bad either, up $24 at $845. Might look high until you realize its 15 times rarer than Gold!

morgansforever · September 28, 2010 10:01PM

Remember talking about this $6 break through with a local dealer
and buying a roll of 2003 ASE'S for around $185.
Still have the roll, never even went through them.
Anyone else do any buying in Dec. 03, and still possess the purchase?

SportsModerator · September 28, 2010 10:46PM

<< Remember talking about this $6 break through with a local dealer
and buying a roll of 2003 ASE'S for around $185.
Still have the roll, never even went through them.
Anyone else do any buying in Dec. 03, and still possess the purchase? >>

Yep. Au and Ag

Still stand by my above prediction

ricko · September 28, 2010 11:02PM

Yep, I did as well... and still holding both silver and gold. Still a ways to go. Cheers, RickO

TwoSides2aCoin · September 29, 2010 12:21AM

Time seems to screw up my predictions, but holding silver makes up for being a lousy clairvoyant.

ibzman350 · September 29, 2010 10:30PM

I'm still holding silver eagles I bought when silver was $4.93

It's the hoarder in me.............can't let go of my stuff

Herb

renman95 · September 29, 2010 10:45PM

This is a classic thread!
It's full of crow and gems.

OPA · September 29, 2010 11:13PM

<< Silver is going to run and run hard over the next several years. Very few will have the stamina to hang in there though....hence very few will reap any rewards. No one said it was going to be easy to make money. So what if it has gone up in the past and then crashed.

As usual DD is preachin his anti-anything but real estate and CD's approach to investing. It's getting old hearing the same old story.
Silver will kick the hell out of RE and the DOW over the next few years. I too sold out of the Dow in 1997 at 7500. Rather than believing the "trend" I sold based on a "stupid number" that appeared to be "high." Same mistake many are now making on gold and silver. Yup, $400 and $6 is too high, better get out. I'm staying the course on PM's and coins. This is the big one Alice.

roadrunner >>

RR posting in this thread was made 12/30/2003 & talk about hitting the nail on the head with that one....

and what ever happened to dollardude ... talk about getting it completely wrong...here was his comment: "Silver? Everyone knows my opinion on precious metals (they stink), so I would dump it all now at this price"

pmac · September 29, 2010 11:27PM

<< 

<< Remember talking about this $6 break through with a local dealer
and buying a roll of 2003 ASE'S for around $185.
Still have the roll, never even went through them.
Anyone else do any buying in Dec. 03, and still possess the purchase? >>

Yep. Au and Ag

Still stand by my above prediction >>

What was your prediction?

CoinCrazyPA · September 29, 2010 11:53PM

RR you are the king of PM's.

<< Silver is going to run and run hard over the next several years. Very few will have the stamina to hang in there though....hence very few will reap any rewards. No one said it was going to be easy to make money. So what if it has gone up in the past and then crashed.

As usual DD is preachin his anti-anything but real estate and CD's approach to investing. It's getting old hearing the same old story.
Silver will kick the hell out of RE and the DOW over the next few years. I too sold out of the Dow in 1997 at 7500. Rather than believing the "trend" I sold based on a "stupid number" that appeared to be "high." Same mistake many are now making on gold and silver. Yup, $400 and $6 is too high, better get out. I'm staying the course on PM's and coins. This is the big one Alice.

roadrunner >>

CoinCrazyPA · September 29, 2010 11:54PM

Were did all the doom and gloom predictors go?

DrBuster · September 30, 2010 12:07AM

I still have a roll of 2000 ASEs that I got for $115 delivered, that I got overcharged on shipping ($15 vs the $3.50 actual postage) from the ebay.

tcmitssr · September 30, 2010 12:50AM

I follow the commodities markets very close and tight. I also have access to some very smart and savvy people. I''m convinced that by Election Day 2012, silver will be around $30. an ounce and gold will be about $1850.

Platinum depends on how the auto industry, worldwide, does....reflective of the need for catalytic converters needed.

roadrunner · September 30, 2010 6:16AM

Brings back such fond memories debating with Dollardude and company. I miss the wisdom or our founding fathers....no not Washington and Jefferson...but Goldsaint and Deadhorse.

roadrunner

D · September 30, 2010 6:19AM

I bought 300 ozs of silver at $6.80 an ounce and still posses all three Englehard bars.

-D

SportsModerator · September 30, 2010 6:41AM

Posted here by yours truly:

Friday December 19, 2003 6:41 PM

Gold $900+

Silver $18.00+

dow 6800

Nasdaq 900

Real estate bubble to pop

Insane was I?

bidask · September 30, 2010 6:46AM

<< Posted here by yours truly:

Friday December 19, 2003 6:41 PM

Gold $900+

Silver $18.00+

dow 6800

Nasdaq 900

Real estate bubble to pop

Insane was I?

>>

Holy cow what a call....whatcha thinking now...??

renman95 · September 30, 2010 7:14AM

<< Were did all the doom and gloom predictors go? >>

To the D&G Forum, aka PM Forum.

MrBear · September 30, 2010 7:32AM

I do not often agree with Roadrunner, but I have to acknowledge the accuracy of his prediction here!

I have a buddy who has his entire life savings in PMs. His auto mechanic offered to buy 50oz of Ag from him a few weeks ago. Called him on a Tuesday, said he'd take possession on Saturday, but wanted the Tuesday price. My friend said "No way." By the end of the week, Silver was up to 19-something. The mechanic backed out because it was too expensive. Oopsie!

GrumpyEd · September 30, 2010 8:24AM

Wow SportsModerator!

That was pretty good.

<< Silver will surpass $50. It will leave that figure in the dust. >>

And it looks to be heading that direction.

BigRick · September 30, 2010 8:32AM

A Blast From The Past.

scottgardener · October 1, 2010 3:35AM

Wow; a Prophesy from the Before Times!

morgansforever · April 24, 2011 9:29PM

<<silver will surpass $50. It will leave that figure in the dust. >>

SportsModerator1, where did you purchase your crystal ball?
Above prediction made on Wednesday December 31, 2003.

PerryHall · April 24, 2011 9:48PM

<< SportsModerator1, where did you purchase your crystal ball? >>

You can buy them on eBay.

morgansforever · April 24, 2011 10:14PM

<<You can buy them on eBay>>

I know that, but I want the exact model SportsModerator1 possesses.

Silver breaks $6, now where does it go?

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