Silver Price Chart

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dcarr
dcarr Posts: 10,257 ✭✭✭✭✭
edited October 15, 2024 10:51PM in Precious Metals

I first posted this chart (without the green section) about a year and a half ago. I added the magenta line at that time. Prior to 2004, not much happened except the spike anomalies. After that, things have been different.

My purpose with the magenta line was to indicate that if you can buy silver for a price that is close to (or under) the line, that would be a good buy.

Now, one and a half years later, I have added the green section to show that the ramp (magenta line) is still valid. In fact, the ramp should perhaps be drawn a little steeper, since silver has gone from about $6 in 2004 to over $30 today (a 5x increase in 20 years). Some other "investments" have done better than that. But silver in-hand is generally a low-risk safe haven (no counter-party risk).

Moonlight Mint

Comments

  • rte592
    rte592 Posts: 2,234 ✭✭✭✭✭
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    You know Dan, If you keep this up it's going to be harder for us to buy silver at a price that we like...Just saying :D
    Nice chart.

  • Goldminers
    Goldminers Posts: 4,414 ✭✭✭✭✭
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    I think there is an inflection point that started with the major increase in the money supply the past 8 years or so. My estimate is the blue line is where we are headed. Let's see how it looks in another year or two. :)

    My US Mint Commemorative Medal Set

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Your blue line shows an increase of about $1.50-$1.75 per year.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    a close above the $32.50 resistance level will offer opportunity for a much higher price.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Goldminers
    Goldminers Posts: 4,414 ✭✭✭✭✭
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    @cohodk said:
    Your blue line shows an increase of about $1.50-$1.75 per year.

    Around 5% a year might be a reasonable expectation. Spikes and dips along the way.

    My US Mint Commemorative Medal Set

  • Goldminers
    Goldminers Posts: 4,414 ✭✭✭✭✭
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    “US consumers' inflation expectations for the next 5-10 years skyrocketed to 7.1% in October, the highest in over 40 years,” noted analysts at The Kobeissi Letter. “This metric has DOUBLED in just several months, according to the University of Michigan Consumer Survey.”

    “The US money supply hit $21.17 trillion in August, the highest level since January 2023,” analysts at The Kobeissi Letter highlighted. “This also marks a fifth consecutive monthly increase for the US money supply. Over the last 10 months, the amount of US Dollars in circulation has jumped by a MASSIVE $484 billion.

    “In effect, the money supply is now just $548 billion below a new all-time high,” they said. “After a brief decline, the quantity of money in the financial system is surging again, raising concerns about another inflation wave. Is inflation set for a comeback in 2025?”

    My US Mint Commemorative Medal Set

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
    edited October 16, 2024 7:42AM
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    Does this mean money creation leads to inflation? LOL

    And, will interest rates have to rise once again to fight inflation? What's a central bank to do?

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @derryb said:
    And, will interest rates have to rise once again to fight inflation?

    I hope so.

    But, would higher rates be good for PMs?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
    edited October 16, 2024 12:13PM
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    @cohodk said:

    @derryb said:
    And, will interest rates have to rise once again to fight inflation?

    I hope so.

    But, would higher rates be good for PMs?

    Yes

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @derryb said:

    @cohodk said:

    @derryb said:
    And, will interest rates have to rise once again to fight inflation?

    I hope so.

    But, would higher rates be good for PMs?

    Yes

    Rising rates weren't good for rising PM prices in 22 or 23.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Goldminers
    Goldminers Posts: 4,414 ✭✭✭✭✭
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    @cohodk said:

    @derryb said:

    @cohodk said:

    @derryb said:
    And, will interest rates have to rise once again to fight inflation?

    I hope so.

    But, would higher rates be good for PMs?

    Yes

    Rising rates weren't good for rising PM prices in 22 or 23.

    Money supply was actually dropping then. It is rising now. Look at my chart above.

    My US Mint Commemorative Medal Set

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    @cohodk said:

    @derryb said:

    @cohodk said:

    @derryb said:
    And, will interest rates have to rise once again to fight inflation?

    I hope so.

    But, would higher rates be good for PMs?

    Yes

    Rising rates weren't good for rising PM prices in 22 or 23.

    they were in the late 70's

    and in 2004

    and since 2020

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Mike59
    Mike59 Posts: 424 ✭✭✭✭
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    Whata Day! Not gutter 2 me.
    Shine On,
    Mike

    MIKE B.

  • tincup
    tincup Posts: 5,481 ✭✭✭✭✭
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    Yeah... that is quite an increase today.

    ----- kj
  • UpGrayedd
    UpGrayedd Posts: 825 ✭✭✭✭✭
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    Silver be BOOMIN! ;)

    Philippians 4:4-7

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    @derryb said:
    a close above the $32.50 resistance level will offer opportunity for a much higher price.

    And we're off!

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    I'm sure that blitz will say it's nothing.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • dcarr
    dcarr Posts: 10,257 ✭✭✭✭✭
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    @jmski52 said:
    I'm sure that blitz will say it's nothing.

    .

    I'm pretty sure he will say something.
    The same thing, in fact.
    Like a broken record.

    .

    Moonlight Mint
  • blitzdude
    blitzdude Posts: 7,723 ✭✭✭✭✭
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    @jmski52 said:
    I'm sure that blitz will say it's nothing.

    Making preparations to dump the boat anchors and doorstops. The chance only comes around about once a generation. RGDS!

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

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