Do you think $30 and below silver is gone forever?

CaptMorgan

I read on another site that the upswings in silver ARE the correction from the price being held down.

I believe the new price of silver is going to remain above $40 from now on.

Do you think silver under $30 is done?

roadrunner

Yes, I think <$30 oz silver is now gone, like the western frontier. We may still see low to mid $30's come this summer.

roadrunner

Wolf359

At the risk of going out on a limb, we'll never see $40 silver again either.

Bayard1908

I can remember when silver was $38 in 1980. A friend told me it would soon go to $100 and never look back.

RedHerring

I believe $28-$29 silver is possible again but not likely. I predict we will see $35 before we see $65 though.

My guess is upper $50s for high this year and a 1:20 gold silver ratio at $100:$2000 within 2 years.

nam812

<< <i>I can remember when silver was $38 in 1980. A friend told me it would soon go to $100 and never look back. >>



Soon is a relative term. He may still be right.

Bayard1908

<< <i>

<< <i>I can remember when silver was $38 in 1980. A friend told me it would soon go to $100 and never look back. >>



Soon is a relative term. He may still be right. >>



I can assure you that he meant before the end of 1980, not 30+ years into the future.

percyb

I'd be a seller of $30 put options if and when Silver ever traded near 32 again.

DoubleEagle59

I believe $27 is the low.

My reason is this.

At the current price of Gold, if the GSR was at 55, then the current price of Silver would be $27.00.

If there is a major economic slowdown, the 'industrial' equation of silver's strength will greatly diminish, while gold will stay strong (think Fall 2008).

That is, the GSR will increase greatly.

If Gold falls slightly, say to $1350 and the GSR goes to 50:1, then silver will be $27.00.

another reason.....

The silver chart and its recent run-up (since Fall 2010 to the present) is so parabolic in nature, that there just 'has' to be a correction.

I have NEVER seen any stock or asset class have this parabolic rise and maintain its level (even if it goes sideways) and never have a correction.

jmski52

I really don't know the answer to that one, and I admit it. What I do know is that silver used to be $1.29/oz. and a dime used to buy a Coke or a couple of candy bars. I know that silver dime is now "worth" $3.32 as of 9:55PM this evening.

Spot = $45.85.

RedTiger

<< <i>I can remember when silver was $38 in 1980. A friend told me it would soon go to $100 and never look back. >>



I remember a similar conversation. Back then, my friend said that he wished silver would go back to $5 so he could use it to make stuff in his machine shop. I told him it would never happen that even $15 was unlikely in the future. Well, silver went to about $3 at the lows. Never say never.

GRANDAM

Prices go up,,,,,, prices go down,,,, we will probably see $10 silver again,,,,,, someday,,,,,


GrandAm

Konahead

I light of the current enviornment, unless we see a turnaround i would not expect it. It is like saying we will go back to the good old days with .50 movies and not locking the door. Gone forever. Noe we have $16 movies and a gun under your pillow.

LakeMonster

<< <i>Noe we have $16 movies and a gun under your pillow. >>

I usually put the gun under my girlfriend's pillow... just in case of a malfunction.

Amigo

I was feeling pretty confident about the current spot price until I read this thread. It appears we are likely in a bubble, or entering one based upon the responses here so far.

Of course silver will be below 30 again, it will also be below 20 again, quite probably below 10 again. When I can't say.

edmundfitzgerald

I will buy silver again only in the 24 range. Some may say I will never buy silver again, but that is what I'll wait for.

cladking

In '79/ '80 when silver crossed $24 I said it was madness and no one had enough
money to keep prices so high and if it was a cartel causing it then they'd break be-
cause some would sell. I didn't think the price could even get up to $50 but there
was simply no doubt it was going to come down and come down hard.

The intervening years and the way silver has played out were impossible to predict
and the stuff of the most fantastic fiction but I don't think it's all that hard to see the
most likely way this plays out.

Watch for the silver bubble to crash and wipe out millions of investors when the it
crashes to about $145 per ounce. Until then it will be fairly quiet. After that there
will be a lot of money made in silver.

JCMhouston

If I knew I would be rich and retired on the beach somewhere. I have gotten completly out of silver over the past month, and personally won't buy any more at these prices. Not because I know anything, I'm just living with my old plan to never get greedy. I'm not smarter than everyone else so I can't call the tops and bottoms, I just buy when the price seems reasonable and sustainalbe and sell when I have a reasonable profit. I took a profit I am very happy with, most of that profit over the past month was invested in more shares of Intel and Microsoft. Boring old stocks that pay a small dividend, and by the way Intel was up 6.5% yesterday.

When I can sell for a reasonable profit, and have a more attractive investment in mind, I'll be out of them also. What I don't do is leave money in cash, that seems a recipe for disaster with the threat of inflation looming. However if the Ben Bernank and the the banksters at the JP Morgue can come up with a new idea to sell to the sheeple than maybe inflation won't happen, but I don't know the answer.

DoubleEagle59

<< <i>If I knew I would be rich and retired on the beach somewhere. I have gotten completly out of silver over the past month, and personally won't buy any more at these prices. Not because I know anything, I'm just living with my old plan to never get greedy. I'm not smarter than everyone else so I can't call the tops and bottoms, I just buy when the price seems reasonable and sustainalbe and sell when I have a reasonable profit. I took a profit I am very happy with, most of that profit over the past month was invested in more shares of Intel and Microsoft. Boring old stocks that pay a small dividend, and by the way Intel was up 6.5% yesterday.

When I can sell for a reasonable profit, and have a more attractive investment in mind, I'll be out of them also. What I don't do is leave money in cash, that seems a recipe for disaster with the threat of inflation looming. However if the Ben Bernank and the the banksters at the JP Morgue can come up with a new idea to sell to the sheeple than maybe inflation won't happen, but I don't know the answer. >>



You have a very good, well disciplined approach to investing.

As they say, "bulls and bears make money, while pigs get slaughtered".

Personally, I feel I'm on the fine line between a bull and a pig when it comes to my silver investments.

Maybe it is time to take a little profit off the table??

keepdachange

I was fortunate to get the PM bug in October of 2009 and able to accumulate 3500 ounces of silver from that point until December of 2010. My goal was to get another 1500 ounces this year but I'm sticking put with 3500 at these prices. Mentally for some reason it is harder for me to buy silver at $45 than it is to buy gold at $1500+

JamesMurray

<< <i>I really don't know the answer to that one, and I admit it. What I do know is that silver used to be $1.29/oz. and a dime used to buy a Coke or a couple of candy bars. I know that silver dime is now "worth" $3.32 as of 9:55PM this evening.

Spot = $45.85. >>



I just want to pick up on the "coke for a dime" , right now a 12 pack of coke is around $2.50 from a supermarket.A little over 20c each , but that's the corn syrup coca cola.I was surprised to find the real coke recently made with cane sugar.It's $28 a case of 24 , more expensive than some decent beers.What is more annoying is the label says bottled in atlanta Ga for the mexican market.So why are we drinking the cheap stuff and exporting the good stuff only to find it being resold back to the US at those prices is my question.

roadrunner

The silver chart and its recent run-up (since Fall 2010 to the present) is so parabolic in nature, that there just 'has' to be a correction.
I have NEVER seen any stock or asset class have this parabolic rise and maintain its level (even if it goes sideways) and never have a correction.

The exception would be the ability to effectively corner the physical silver market. With only $30-$40 BILL or so worth of new silver mined each year
it does beg the question of how much is really left after 50 yrs of throwing most of it away. There's only so much silver available...but unlimited paper to trade.
Note that silver is performing like this in spite of >$100 BILL in otc silver derivatives bet against it. At current prices that's 3X to 4X world annual production.
Gold derivatives utilize a similar ratio. One couldn't ask for better timing to try and corner a market than when all world fiat currencies are being questioned.
After the Hunts and Warren Buffet, maybe this time it does end differently.

roadrunner

theboz11

After the Hunts and Warren Buffet, maybe this time it does end differently.


Yes, This time China has money and out of control inflation with the possibility of a revaluation of their currency this weekend. This to the detriment of the Dollar. China told it's citizens a couple years back to hoard gold. Silver is better and I believe China is driving the Silver Rush . If each Chinaman only had 5% of his wealth in PM, there would not be enough to supply them. IMHO

GritsMan

I have no doubt silver will fall below $30 again, but have absolutely no idea when. It seems to me that, even with the fundamentals of a weak dollar at work, we are entering a big bandwagon phase.

cladking

<< <i>I have no doubt silver will fall below $30 again, but have absolutely no idea when. It seems to me that, even with the fundamentals of a weak dollar at work, we are entering a big bandwagon phase. >>




Of course silver won't be worth an hour's wages again at some point.

I just doubt that's going to happen until man can either weave long molecules
like a pot holder or bring it in from another planet.

It's simply can't be predicted when this will occur at the current time and it might
be far in the future.

cohodk

<< <i>I really don't know the answer to that one, and I admit it. What I do know is that silver used to be $1.29/oz. and a dime used to buy a Coke or a couple of candy bars. I know that silver dime is now "worth" $3.32 as of 9:55PM this evening.

Spot = $45.85. >>




So since that dime can now buy a 6-pack of Coke or a bag of candy bars, it is now overpriced?

jmski52

So since that dime can now buy a 6-pack of Coke or a bag of candy bars, it is now overpriced?

If this were 1962, I might say "yes".

But, since this is 2011 and since it has been demonetized since then, and since it now depends on supply & demand, I might say "no".

I think that the key variable here is "supply", but then again - it could be "demand". I get so crazy when I think about silver prices.

1970SilverArt

I think that it is certainly possble to see $30 (and below) silver again on the way down.

Baley

Interesting commentary of perspectives from near the peak

cohodk

Should have traded for the candy bars.

piecesofme

Why do people bring up the past with metals? It's really a joke doing so when we all know anything can happen at any given time. The way the market trades now is different than 30, or 3 years ago. It's an ongoing evolution, enjoy the ride.

rawteam1

<< <i>Why do people bring up the past with metals? It's really a joke doing so when we all know anything can happen at any given time. The way the market trades now is different than 30, or 3 years ago. It's an ongoing evolution, enjoy the ride. >>



its not a joke at all & the only "evolution" their is over the time,
is how one handles/refines their own emotion, fear & greed & discipline...

OPA

<< <i>

<< <i>Why do people bring up the past with metals? It's really a joke doing so when we all know anything can happen at any given time. The way the market trades now is different than 30, or 3 years ago. It's an ongoing evolution, enjoy the ride. >>



its not a joke at all & the only "evolution" their is over the time,
is how one handles/refines their own emotion, fear & greed & discipline... >>





It should also be a learning lesson from the mistakes behind their premonitions.

Baley

Besides Fear and Greed, investing emotions might include Hope, Faith, and Security (and their opposites)

rawteam1

from my buddy...

my grandma used to say, "wish in one hand and spit in the other, see which fills up quicker."

Baley

<< <i>Why do people bring up the past with metals? It's really a joke doing so when we all know anything can happen at any given time. The way the market trades now is different than 30, or 3 years ago. It's an ongoing evolution, enjoy the ride. >>



because it's interesting to some, to read what people were thinking, versus what actually ended up happening.

There's an easy answer for those who are now embarassed by what they've written in the past... don't open the threads!