How about silver??

[RobertB]

Silver is the performer of the month in my opinion. It's about to kick past 6 bucks an ounce. closed at 5.94 today. Percentage wise, silver is the true performer. God, I could have made a fortune had I just bought more.

[jtryka]

I was about to start a thread like michael's perennial gold price threads but with a focus on silver instead. A year ago, you could have bought silver for $4.50 an ounce, now up 33%. I still think it's cheap, and would be buying up to $10 or maybe $15 an ounce. Recently I have been trying to complete my ASE roll set, but it's been getting more expensive!

[dakra]

I actually like Silver. Like Gold, there were many who did not see it heading higher for many reasons such as Silver being used less and less in Film due to the digital age. I'm surprised that it has moved so quickly and I don't think anyone mentioned it would move due to a dollar that is falling in value.

 

I know many people are predicting the values of these precious metals to go much higher in value but I think it's going to stick to the range it is in now. I believe I said a month or so ago that the range would be 380-420 for gold.

 

The economy appears to be recovering, the stock market is heading back up, I think people who suffered losses in the economy in the past few years, who have struggled financially are starting to get back on the right path or atleast live within their means.

 

Despite the falling dollar, I think there is some manipulation in the precious metal market (on both sides). I'm also under the opinion that it is being overly hyped up especially the articles that are proclaiming $500 to $1,000/oz in the near term. After the quick moves I have seen, I would be very weiry of investing in it right now. I believe I can do much better at finding undervalued stocks that will perform better than the precious metals over the next year or two.

 

In conclusion, if Silver ever made it up to $20 an ounce, I'd be happy. I'd sell my Dad's silver bullion at a profit I'd much rather see the dollar get back on track.

 

-Dave

[RobertB]

In all honesty I am not too surprised. The quote on silver never really seemed to match the actual sales going on. Looking on just ebay per say, 6 months ago, would have shown 10 oz. bars going for 55-58 dollars. That's an average of 5.70/oz. 100 oz. bars were going for like 550 I believe. That's an avg. of 5.50/oz. At that time silver was like 4.25/oz.. There has always been a true market price correction when silver actually changed hands. Of course the larger quantity of silver, the lower the correction. However, it was there none the less. Therefore, to some degree silver is actually now capturing it's true market exchange price. Funny if you look on ebay now, 10 oz. bars are going for low $60's. Not much above metal quote, unlike six months ago?

Is this silver's self actualization. I think so, and long over do.

[dakra]

Robert,

That's pretty weird because 6 months ago I was looking at the price of 1oz bullion and it was pretty much in the range of the price of silver. I wonder if the people who were looking for 100 oz were banking on the price of silver going up?

 

I don't own gold and don't have a great amount of silver but I'm still lured everyday to take a peek at the prices for gold and silver on Kitco.

 

-Dave