WHAT ARE YOUR THOUGHTS --CAN WE FINALLY TAKE OUT SILVER'S RECENT HIGHS??? OR ANOTHER FAKE-OUT ?

Mike59

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 ?

dennis1219

I wish I knew. Silver is too volatile, but economic fundamentals tell me this is not a fake out.

blitzdude

Gold is certainly headed to new highs, I expect silver to remain stuck in the gutter.

derryb

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.

1630Boston

@derryb
I enjoy reading your postings here, but............your avatar kind of freaks me out.

blitzdude

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.

ricko

Silver at $18,975 as of 9 July 3030 09:33 ..... should be fun to watch...Cheers, RickO

TwoSides2aCoin

Odds are like the GSR. Ask a bookie. He will give ya about a hundred to one odds they'll hold value.

Baley

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

USASoccer

@Baley said:
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

The $12 an ounce where did you find that figure?

Baley

It's an average i calculated myself from sources...

What did you get when you did the math?

Tiggs2012

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.

Mike59

@Tiggs2012 said:
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

OPA

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.

isaiah58

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.

DoubleEagle59

No turning back now.

$30 an ounce by this afternoon.

alexerca

Wake me up when it hits 60 and I'll sell all 1600 ! Believe it or not I'm not a silver guy!

jmski52

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.