WHAT ARE YOUR THOUGHTS --CAN WE FINALLY TAKE OUT SILVER'S RECENT HIGHS??? OR ANOTHER FAKE-OUT ?
Mike59
Posts: 319 ✭✭✭
Is Silver finally going to move OR is this another fake-out ? Silver Spot $18.82
1) 02/24/2020---Spot hit $18.87
2) 09/04/2019---Spot hit $19.08
3) 08/04/2016---Spot hit $20.41
So Fake-out or Bull run ?
MIKE B.
1
Comments
I wish I knew. Silver is too volatile, but economic fundamentals tell me this is not a fake out.
Gold is certainly headed to new highs, I expect silver to remain stuck in the gutter.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
someone obviously does not know the relationship between gold prices and silver prices or what causes either of both to rise. they are both reacting to the same thing.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb
I enjoy reading your postings here, but............your avatar kind of freaks me out.
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Someone obviously has been hiding in their doomsday bunker and hasn't seen a gold, silver or better yet a gsr chart for the better part of the last decade.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Silver at $18,975 as of 9 July 3030 09:33 ..... should be fun to watch...Cheers, RickO
Odds are like the GSR. Ask a bookie. He will give ya about a hundred to one odds they'll hold value.
They dig silver out of the ground for around twelve bucks an oz...
Maybe less than that, now that fuel is so much less expensive
The rest of the price for silver is speculation on future demand (spot) or "premium" for Physical that is pretty, rare, has fine workmanship (artistic) or is just kewl to own.
Oh, and Marketing! The combination of fear, hype, and salesmanship can take it far.
I think we'll see spot at 20 soon
Liberty: Parent of Science & Industry
The $12 an ounce where did you find that figure?
It's an average i calculated myself from sources...
What did you get when you did the math?
Liberty: Parent of Science & Industry
Those previous times lacked a real capitulation low unlike recently, odds favor the bull. Lots of 20-22 resistance, theres also usually lots of denial around when bears end/bulls start.
I agree 100% . I think If we can break thru the $20-$22, we can see $25 . IMHO
MIKE B.
Silver needs to break the $19 barrier and stay there for a month or so w/o dropping back down to previous highs of $18 or $17.....If that occurs...$20 by the e/o of year.
Unless Gold can break out over $1,800 and sustain it, then PM prices might just turn sideways.
The leading indicator the last few months, which tends to be consistent, is the g/s ratio. As prices dropped, silver went well over 100/1. Not until the market actually starting moving upwards, did silver drop back below 100. I believe it is around 96 ATM. Silver always outperforms gold until things go sideways, be it faster to lose value or faster to gain value.
Then it gets to a point where gold does tend to hold gains over time a little better, mostly because we see silver get down near 30 or 40 to 1, then eventually revert to the 100 to 1 area.
No turning back now.
$30 an ounce by this afternoon.
Wake me up when it hits 60 and I'll sell all 1600 ! Believe it or not I'm not a silver guy!
Since silver has previously bounced off $50 (in 1980) and $49 (in 2011), I'd say that anything below $49 isn't significant. Given all the money creation in the midst of a poor economy, we should have $40/oz. by the end of the year and $60/oz sometime next year.
That's my WAG.
I knew it would happen.