What caused the rise in silver prices?

ddink

Silver broke $8 today (yay!), but my question to the experts is this: what caused it?

In 2001 we entered into a recession. Later that year the World Trade Center was bombed.
In 2002 we began the war with Afganistan. Later that year we lost all faith in our corporations as the Enron, Tyco, and WorldCom scandels broke. The stock market took a huge beating.
In 2003 we began the war in Iraq. Later that year we (technically) came out of the recession (our GDP rose). At the very end of the year, silver starts moving and keeps moving until today.

My question: why didn't silver take off when we entered the recession? Why didn't it take off when the WTC was bombed? Why didn't it take off when we went to war with Afganistan? Why didn't it take off when our major corporations tanked? Why didn't it take off when we went to war with Iraq? Why, after all these things that *should* have made silver rise, did it only begin rising as our economy began to improve (ever so slightly, in most segments other than employment)?

bulloncoins

Too many "advisors" advising against PMs....."historicaly low returns".......Now investors are catching up to where the smart money has already been going for the years you mentioned.......You havn't seen anything yet. Tip of the ice berg.

mrearlygold

Debt is at :
7,144,745,314,858.04

I put the debt counter ( click on it to see how much you owe today, it started at 21,140, end of july 2003) on the home page of my website AND I put a movie from Lew Rockwell there as well which illuminates what the federal reserve does.

Rgrds
TP

CarlWohlforth

I believe there are two reasons that help explain your questions. First is that the dollar is down against the Euro and some other currencies so silver didn't rise much in price in Europe. Second is that China is consuming more of every commodity to fuel its booming economy. These dynamics didn't really kick in until late last year.

LAWMAN

Warren Buffett and Bill Gates (and a few others) bought a whole bunch of silver over the last year or two.

Hmmm, what does that tell?

Can you spell H -- U -- N -- T ?

Bear

Ebullant Boyancy

ddink

<< <i>Can you spell H -- U -- N -- T ? >>



Actually, I think they are spelling H - E - D - G - E. Remember, for ages financial advisors have been saying put 5-10% of your investments in silver/gold. Sounds like they just took that advice to heart--remember, what is a lot of silver to us is a drop in the bucket to these people.