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Silver is down. Will we ever see $10 silver again?

Batman23Batman23 Posts: 4,999 ✭✭✭✭✭
in Precious Metals
Been gone quite awhile. I see that silver dropped greatly since I last looked. I am curious to see what your thoughts are... Will silver make it back below $10 or is $17 a new base?

Comments

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    $10 silver again...unlikely...$15 silver maybe....$20 silver, perhaps ....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • guitarwesguitarwes Posts: 9,266 ✭✭✭
    Hadn't missed much. Silver's pretty boring, how's crime fighting these days?
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  • bestmrbestmr Posts: 1,778 ✭✭✭
    About the same as Joker staying in Arkham for good....unlikely.
    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
  • Batman23Batman23 Posts: 4,999 ✭✭✭✭✭
    Crime fighting has been real slow here the last year or so... which is a good thing i guess... just boring.

    Last I had really looked at silver it was holding steady about $30. Now I see it holding around $17. With the state of economy I am a bit surprised at the drop in PM.

    I guess what I am wanting to know is if this is be the new base, kinda like $5 silver was for the 90s? Are people generally holding, buying or selling right now?
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Most here are holding (at least it appears that way), myself included..... I believe the future of silver is up...not forecasting any specific value, but it will go up....not likely to ever see $10 again. Cheers, RickO
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>Been gone quite awhile. I see that silver dropped greatly since I last looked. I am curious to see what your thoughts are... Will silver make it back below $10 or is $17 a new base? >>



    Even odds on seeing $10 silver again. With what's happened over the past decade, seeing $10 again wouldn't surprise too many.

    It was just over 6 years ago Ag was under $10, spot was anyways.
  • perkdogperkdog Posts: 30,643 ✭✭✭✭✭
    Nothing would suprise me, in the meantime Im stacking until it goes North of $20
  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    I hope so
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    I have a plan, my plans are small so I don't worry much. Add to the stack slowly and steadily never putting in more than I can afford so I never really need the money back. Kind of like my electric bill, once it's spent/paid, I never expect to get a return on it so in the end, if I do... Cool.
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    Goldman Sachs seems to think oil is poised to break towards $20.

    Gold, silver and copper will head lower if that happens. Deflation here we come.
    Have a nice day
  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭
    Hello Batman,

    I know what you mean about the $30 silver. I thought that was the new bottom at the time, so it was surprising to see it fall to $17. But again, its difficult to predict these things.

    There is no doubt the economy has not recovered. But silver does not always obey economic reality. I think the biggest problem in the economy is the spending power of the consumer. Wages have declined or stagnated while inflation on necessities has gone up. Now that the unemployment numbers look good on paper, that still does not mean the average consumer has any spending power. Since the USA is consumption driven, I do not see good new on the horizon. Wages will not rise as there is too much resistance to that and companies will simply raise prices or reduce staff even if it happens, so that it does not help the consumer at all.

    Looking back, it was naïve to think that $30 was the new base for silver since historically, corrections of a recent peak is usually a larger chunk of the close $50 that it reached just a few years ago. If silver is $10, I think there will be a buying frenzy, so the price won't be sustained. Last year, the sale of silver coins (American Eagle and Maple Leaf) was up, so the demand is still very strong. The demand for gold eagles and maple leafs is down. Let us see what 2015 will bring.
    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

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  • Batman23Batman23 Posts: 4,999 ✭✭✭✭✭
    Thanks guys, I have been out of the loop with the metals and coins for a bit. I have peaked in on occasion but I am surprised at how long it has been down. I suppose at this price it may not be a bad time to buy and hold. Probably not much downside but plenty of potential if the dollar falls flat. Too bad I couldn't get that crystal ball working properly!
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Lol, you should still say out, you may want to get rid of the mantra "if the dollar falls" , just rhetoric ...

    Gold price has nothing to do with the dollar index price fall or what ever that means...
    keceph `anah
  • ebaybuyerebaybuyer Posts: 2,984 ✭✭✭
    a dealer in my area (now deceased) was selling generic 90% halves at $1.50 each ... that was of course when silver was around $4 an ounce, doesn't seem like that long ago but yeah i suppose it was
    regardless of how many posts I have, I don't consider myself an "expert" at anything
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