Silver breaches $31 in o’nite trading! 30.97 x 31.02
Getting to be a crowded trade.
Didn’t it just close above $30 last week?
However, by the end of this year the current prices of Gold and Silver are going to look like never-to-be-seen-again fairy tale entry prices.
Right now the lifeboats look full, but wait until the 30 year bond reachs 4.9%. My personal guess to this date is as early as Feb 13th 2011. But whenever it happens, that's when we will begin to see what a crowded trade really looks like.
I was at a couple of auctions and a few antique stors last week in Kentucky. I bought all the morgan silver dollars I could get my hands on at $25 each and Ben Franklin halves at $12 each.
When I saw silver break $30 this time, I firmly saw it as setting a new floor.