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Is $30 silver here to stay?

dontippetdontippet Posts: 2,609 ✭✭✭✭
in Precious Metals
I believe this is the third time it has hit $30. During the other two times, I don't remember it staying above $30 for three straight days. I'm sure it will get below $30 again, but it appears that maybe it has some staying power. I remember seeing similar staying power, although for much longer, in the upper teens right before it took off for the upper 20's.
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Comments

  • JulioJulio Posts: 2,501 ✭
    I'm sure it will get below $30 again,...

    I agree. Take care. jws
    image
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    I noticed just today on Beck's radio show he's saying to buy silver (via Goldline.) It's the first I've heard him tout silver.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Most of the people he is talking to can't afford to buy gold.

    I'm sure he wants them to invest in something of value the way the dollar is going.
  • jmski52jmski52 Posts: 22,941 ✭✭✭✭✭
    My gut tells me that there is a chance, maybe 20% or so that silver won't make it back below $30.00 again.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I'll take a flyer and say it will close below $30 in the next week.

    Seasonality charts point to much of February and into early March as times of continued weakness in gold and silver. But pretty soon it will be off to the races again as the usual end of month manipulations are left behind.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JCMhoustonJCMhouston Posts: 5,306 ✭✭✭
    Just as it always has, I predict it will go up, then it will go down, then it will repeat.
    JCM-Houston
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  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,371 ✭✭✭✭✭
    I expect to see $28 again in February....but not for long.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
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  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Most of the people he is talking to can't afford to buy gold
    I don't listen to the guy, but that's a pretty rude comment. Free speech, gotta love it.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • TheTalkingWalnutTheTalkingWalnut Posts: 444
    Then I guess I better not say that I'd be surprised if most Beck watchers could spell Au. Oops!
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Then I guess I better not say that I'd be surprised if most Beck watchers could spell Au. Oops! >>



    Wot u mean?
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    stereotyping is why (or at least partly why) this Country has gone to hell. It starts with each one of us and how we respect another point of view when it doesn't mesh with our own.
    That's all I'm gonna say.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • jmski52jmski52 Posts: 22,941 ✭✭✭✭✭
    Then I guess I better not say that I'd be surprised if most Beck watchers could spell Au. Oops!

    I'd bet you've had lots of surprises in your life.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • PerryHallPerryHall Posts: 46,283 ✭✭✭✭✭


    << <i>stereotyping is why (or at least partly why) this Country has gone to hell. It starts with each one of us and how we respect another point of view when it doesn't mesh with our own.
    That's all I'm gonna say. >>



    The good ol' U.S. of A. is one of the most tolerant countries in the world. If you don't think there is intolerance/stereotyping in other countries, you are being very naive.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • DoubleEagle59DoubleEagle59 Posts: 8,332 ✭✭✭✭✭


    << <i>My gut tells me that there is a chance, maybe 20% or so that silver won't make it back below $30.00 again. >>



    The one chance it has to stay above $30 has to do also with the declining gold to silver ratio.

    It's currently at 44.4 to 1.

    If it drops to 40 to 1, then even if gold doesn't move and stays at $1384, the resulting silver value would be $34.60 an ounce.

    Or look at it the other way, at 40 to 1 ratio and if silver stays at $30 an ounce, then gold could drop all the way to $1200 an ounce.

    My point is...if the ratio gets to 40 to 1, it provides the $30 an ounce price for silver a large cushion or 'safety zone'.

    Confusing?....perhaps, but worth the thought.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • MsMorrisineMsMorrisine Posts: 33,358 ✭✭✭✭✭
    I was thinking we'd pulll back to $24 before $34.

    We pulled back, but not that far.

    It'll be interesting to see if we hit $34 first.


    (this is all guess work)
    (that said, I wish we had an independant silver authority that could provide usage and mining and re-melting numbers)
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  • pitbosspitboss Posts: 8,643 ✭✭✭

    I would be tickled pink to see $32.00 today!
  • oilstates2003oilstates2003 Posts: 493


    << <i>I would be tickled pink to see $32.00 today! >>


    Only .25 cents away
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  • COALPORTERCOALPORTER Posts: 2,900 ✭✭
    35 sometime next week.
  • SwampboySwampboy Posts: 13,010 ✭✭✭✭✭


    << <i>I would be tickled pink to see $32.00 today! >>


    $31.70 should tickle somethin'. image

    "Inspiration exists, but it has to find you working" Pablo Picasso

  • pitbosspitboss Posts: 8,643 ✭✭✭
    I'm not complaining.

    I don't understand why the silver is not jumping up around the world.

    Their markets are very flat.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    35 sometime next week

    I wager 1 ASE that it wont by next Fridays close.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>35 sometime next week

    I wager 1 ASE that it wont by next Fridays close. >>






    With today's activity, we might see $35 silver by 4pm!
  • bestmrbestmr Posts: 1,781 ✭✭✭
    I totally expected a pullback today. It's on fire for some reason!!
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>I totally expected a pullback today. It's on fire for some reason!! >>





    and pulling the rest of the PM's along with it.
  • COALPORTERCOALPORTER Posts: 2,900 ✭✭


    << <i>35 sometime next week

    I wager 1 ASE that it wont by next Fridays close. >>



    Does silver trade on Monday? i forgot it could be a holiday. image
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>I would be tickled pink to see $32.00 today! >>



    R u pink yet? image
  • pitbosspitboss Posts: 8,643 ✭✭✭

    I have past pink and headed toward red,
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Closed at 32.68 today which was an 88 cent gain

    What a great day.

    It survived a mid day sell off where it dropped about 50 cents in a short time.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    My offer still stands, ASE for an ASE. Only stipulation is I'm going off of the New York close each day, not intra-day, what it closes at trading in the U.S. thru next Fridays close.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • DrBusterDrBuster Posts: 5,412 ✭✭✭✭✭


    << <i>My offer still stands, ASE for an ASE. Only stipulation is I'm going off of the New York close each day, not intra-day, what it closes at trading in the U.S. thru next Fridays close. >>



    So closing price NY, any day including Friday, is what the bet is? So if it pops close 35 on tuesday you're done right?
  • FrankiefanaticFrankiefanatic Posts: 325


    << <i>My offer still stands, ASE for an ASE. Only stipulation is I'm going off of the New York close each day, not intra-day, what it closes at trading in the U.S. thru next Fridays close. >>



    I'll take a piece of this action.. I'm betting that by Wednesday EOB- its 35.01+

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Frankiefanatic, As long as you confirm that you understand the guidelines i've proposed for this...you're on.


    DrBuster, Yes...any day next week NY (or U.S., however you refer to it) CLOSE. Confirm if you're on please.

    That's it, I'm only doing 2 because I actualluy said only 1 initially. I'll check back in the AM to see where this stands.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • FrankiefanaticFrankiefanatic Posts: 325


    << <i>Frankiefanatic, As long as you confirm that you understand the guidelines i've proposed for this...you're on.


    DrBuster, Yes...any day next week NY (or U.S., however you refer to it) CLOSE. Confirm if you're on please.

    That's it, I'm only doing 2 because I actualluy said only 1 initially. I'll check back in the AM to see where this stands. >>



    Well if you want to do it up to close of market (NY) Friday- I am confirming the deal. Hell I only have 1 ASE in my stash box as it is.image would love to have 2!

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    ok Frankiefanatic, you're on. It's not if it hits it intra-day...it's the NY close each day...around 5:00 CT.

    DrBuster, you cant wait til the Asian markets up Sunday evening image . Please confirm sometime today. Thanks
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    two and one half hours until trading opens on the other side of the world.
  • PerryHallPerryHall Posts: 46,283 ✭✭✭✭✭


    << <i>two and one half hours until trading opens on the other side of the world. >>



    I guess there won't be any trading in the US tomorrow due to it being a federal holiday.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • OPAOPA Posts: 17,126 ✭✭✭✭✭


    << <i>

    << <i>two and one half hours until trading opens on the other side of the world. >>



    I guess there won't be any trading in the US tomorrow due to it being a federal holiday. >>



    Don't know about that...according to Kitco..market will be open tomorrow.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • PerryHallPerryHall Posts: 46,283 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>two and one half hours until trading opens on the other side of the world. >>



    I guess there won't be any trading in the US tomorrow due to it being a federal holiday. >>



    Don't know about that...according to Kitco..market will be open tomorrow. >>



    Maybe there will be a Presidents Day sale.imageimage

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • BarndogBarndog Posts: 20,500 ✭✭✭✭✭
    steady to up so far in overseas markets.
    JR Newsletter Online Edition
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    looks like the wager is just me & Frankiefanatic image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • JustacommemanJustacommeman Posts: 22,850 ✭✭✭✭✭
    FYI- the CME is closed on Monday. MJ

    Sunday, Feb 20
    1700 CT ¡V Regular CME Globex open for trade date Tuesday, Feb 22
    Note: Day/Session orders entered on Sunday are for trade date Tuesday, Feb 22,
    and will continue working until Tuesday¡¦s close at 1515 CT
    Monday, Feb 21
    1030 CT ¡V Trading halt
    „hƒnƒnƒnƒnOrder entry, modification and cancellation allowed
    1700 CT ¡V Halted products resume trading
    Tuesday, Feb 22
    1515 CT ¡V Regular CME Globex close for trade date Tuesday, Feb 122


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  • OPAOPA Posts: 17,126 ✭✭✭✭✭
    Hit $34 today...image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OverratedOverrated Posts: 454 ✭✭
    Keep stacking!
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    looks like the wager is just me & Frankiefanatic

    wow! It now looks like I better ask FF for his mailing addy...but not quite yet lol.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • ElyJ83ElyJ83 Posts: 73


    << <i>looks like the wager is just me & Frankiefanatic

    wow! It now looks like I better ask FF for his mailing addy...but not quite yet lol. >>



    I think Frankiefanatic will win his bet on friday image
  • FrankiefanaticFrankiefanatic Posts: 325
    we all must watch how certain tangibles are moving.

    Take oil for instance- again due to certain unrest in the world- oil is KING, with it comes the others (gold, silver, plats, copper)

    you kind of get my drift on this one.

    but one tangible we are not watching closely is the human tangible- I really don't wish to make this a political type thread- but with the unrest in the middle east as we see it today- I fear that a war is going to break out unlike any we have witnessed in our lives.

    and if this happens- there will not be any bullion collecting going on- it might be a matter of survival.

    I still hope to see it close at 35+, but I am afraid of what may be driving this.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Yep, I agree. Like Tyler Matheson said today on CNBC. "There is something strange about positioning your portfolio when people are dying unjustifiable deaths and it's the direct cause of your portfolio needing adjusting."

    Something very profound it that statement.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    2 days down, 3 to go Frankie image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • FrankiefanaticFrankiefanatic Posts: 325


    << <i>2 days down, 3 to go Frankie image >>



    today's close @ 33.54

    seems like that 34+ hump may take place next week

    although stranger things have happened in the world of PM's

    I hear tell that JP and Chase are on the short to cover- that can't be too good in this volatile time.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I just don't see $35 Ag, but then again, when it was $22 and everyone was calling for $30, I thought that was nuts too.
    To forgive is to free a prisoner, and to discover that prisoner was you.
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