Is $30 silver here to stay?

dontippet · February 16, 2011 4:08AM

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.

Julio · February 16, 2011 4:18AM

I'm sure it will get below $30 again,...

I agree. Take care. jws

renman95 · February 16, 2011 4:32AM

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.

pitboss · February 16, 2011 4:36AM

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.

jmski52 · February 16, 2011 5:11AM

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

roadrunner · February 16, 2011 6:01AM

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

JCMhouston · February 16, 2011 6:14AM

Just as it always has, I predict it will go up, then it will go down, then it will repeat.

OnlyGoldIsMoney · February 16, 2011 6:26AM

I expect to see $28 again in February....but not for long.

piecesofme · February 16, 2011 8:49AM

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.

TheTalkingWalnut · February 16, 2011 10:08AM

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

renman95 · February 16, 2011 10:33AM

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

Wot u mean?

piecesofme · February 16, 2011 11:33AM

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.

jmski52 · February 16, 2011 12:14PM

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.

PerryHall · February 16, 2011 5:48PM

<< 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.

DoubleEagle59 · February 17, 2011 2:03AM

<< 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.

MsMorrisine · February 17, 2011 3:11AM

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)

pitboss · February 17, 2011 3:27AM

I would be tickled pink to see $32.00 today!

oilstates2003 · February 17, 2011 4:57AM

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

Only .25 cents away

COALPORTER · February 17, 2011 10:22AM

35 sometime next week.

Swampboy · February 17, 2011 1:57PM

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

$31.70 should tickle somethin'.

pitboss · February 17, 2011 2:23PM

I'm not complaining.

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

Their markets are very flat.

piecesofme · February 17, 2011 2:24PM

35 sometime next week

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

gecko109 · February 18, 2011 2:00AM

<< 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!

bestmr · February 18, 2011 2:09AM

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

pitboss · February 18, 2011 2:11AM

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

and pulling the rest of the PM's along with it.

COALPORTER · February 18, 2011 2:30AM

<< 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.

renman95 · February 18, 2011 2:34AM

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

R u pink yet?

pitboss · February 18, 2011 3:10AM

I have past pink and headed toward red,

pitboss · February 18, 2011 7:27AM

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.

piecesofme · February 18, 2011 9:00AM

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.

DrBuster · February 18, 2011 9:04AM

<< 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?

Frankiefanatic · February 18, 2011 11:20AM

<< 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+

piecesofme · February 18, 2011 1:40PM

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.

Frankiefanatic · February 18, 2011 10:18PM

<< 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.

would love to have 2!

piecesofme · February 18, 2011 11:06PM

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

. Please confirm sometime today. Thanks

pitboss · February 20, 2011 5:27AM

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

PerryHall · February 20, 2011 6:06AM

<< 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.

OPA · February 20, 2011 8:07AM

<< 

<< 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.

PerryHall · February 20, 2011 8:19AM

<< 

<< 

<< 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.

Barndog · February 20, 2011 8:35AM

steady to up so far in overseas markets.

piecesofme · February 20, 2011 9:27AM

looks like the wager is just me & Frankiefanatic

Justacommeman · February 20, 2011 9:40AM

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

OPA · February 21, 2011 2:15AM

Hit $34 today...

Overrated · February 21, 2011 2:17AM

Keep stacking!

piecesofme · February 21, 2011 2:43AM

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.

ElyJ83 · February 21, 2011 6:59AM

<< 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

Frankiefanatic · February 21, 2011 11:14AM

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.

piecesofme · February 21, 2011 11:56AM

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.

piecesofme · February 22, 2011 10:58AM

2 days down, 3 to go Frankie

Frankiefanatic · February 23, 2011 8:42AM

<< 2 days down, 3 to go Frankie

>>

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.

piecesofme · February 23, 2011 9:10AM

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.

Is $30 silver here to stay?

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