Posted on 04/15/2011 1:53:26 PM PDT by mikelets456
What is going on with silver? When I bought at $17 I was told I was nuts. I have read that $80 or more is not out of the question. Should I buy more? I ain't selling because nowhere do I see that the dollar will be strengthening anytime soon.
Yes. Silver is on it’s way to at least $50. Some say much much higher.
Made me mighty happy to have gotten in a 12.20$
Buy more here because human nature says you wont at higher prices. Buy occasionally, its not todays price that matters but 10 years from now when it trades in the many 100s.
I bought at $49. Still waiting to make a profit.
It’s up $2 since friday.
Congratulations. Good call! I agree with your analysis.
Silver, in the past, has been valued and traded around 15 or 16-1 with gold. Based on that, it should be in the 80-90 dollar range.
Yes buy more.
Time is short and it won’t be long before the paper dollar is totally worthless.
Only then will real value be important. Gold and Silver is the only thing that honest men can use to exchange products and services.
John Galt.
That’s the price I bought my first 500 oz. I bought another round last week and it’s already up $3.00 oz.
Beats the crap out of my stock and bond portfolio.
BTW, remember how many articles posted here from “The Business Insider” over the last six months that have consistently poo-pood investing in precious metals?
The big factor is this -— The perceived SOUNDNESS of the US Dollar. If paper currency is not perceived to be sound, investment will always look for ways to PRESERVE the inherent value of assets.
Since there is little indication that SPENDING in the USA is being curtailed ( $38 Billion ?? Yeah that’ll make a dent in our $1.6 TRILLION deficit ), investors are flocking to the traditional safe havens — Gold and Silver.
Notice how our borrowing and spending is causing the devaluation of the US dollar... would you rather put your money on paper which is being printed non-stop, or precious metals? No brainer here.
The political crisis in the Middle east with riots and protests everywhere isn’t helping confidence in paper currencies either.
As long as all these factors remain, I don’t see Gold and Silver coming down.
That’s the way I see it.
Hold on to your silver coins. They may be the only thing that will “spend”.
Is the total amount of gold and silver you own multiply by the current closing spot price equal to 10 percent of your net assets? If no, buy some more till it is 10 percent. If yes, based on today’s prices is your gold and silver equal to atleast six months of your food and vehicle fuel spendings? If no, get some more till it is. Those are the two criterias you need to achieve to meet minimum safety to preserving some of your wealth and feeding your family if high inflation or hyperinflation strikes our economy. Some people believe precious metals should represent up to 20 percent of your net asset.
I shop for what I want at several places (groceries) in addition to wifey......Today, mostly everything I usually buy were up 10% on average, some much more. SHTF is coming folks....Last time I shopped was less than 10 days ago.
Mega hedge fund manager John Paul’s owns major positions in Gold (GLD) ETF, Gold Fields, Kinross, Barrick, Randgold and many other gold companies.
The University of TX invested about $500 million of their $20+ billion endowment last summer in gold.
Who was President last time this happened? This time it will be a lot worse.
One newsletter writer called gold and silver the “anti-dollars.”
Kind of a strange day today.
Spot gold and silver were up to new highs.
But gold and silver stocks were slightly down, a negative divergence.
It might have had some connection with option expirations, or with rumors that some of the funds are hedging the shares against the metals.
We’ll see on Monday.
Bought my first bars back in the 70s and many silver dollars in the 80s. Also bought precious metals and mining fund with Vanguard some 4 years ago and keep adding to the position every month. Energy fund hasn’t performed too bad either. With BO intent on destroying the dollar, neither are bad investments.
You’re onto something. For the Dow Jones companies to not lose, they will have to be priced and paid in silver. There is no way they can keep bein competitive if they keep their cash in paper from here on out.
The Moneychanger has been saying $196. silver for at least three years. Gold at $3190. and the DOW at 2900. As far as I can tell, he gets these numbers from reading the charts, so emotion may take them higher. I bought silver at $7.20 when Warren Buffett bought in with Berkshire Hathaway. Bought gold at $420. I hope The Moneychanger (Franklin Saunders) is right.
Gold is a safer and more stable investment I would say at the moment. Silver is so volatile that it is incredibly speculative. Yes, it could go much higher, but it could also come crashing down. When the ratio starts approaching 30-1, which it is doing at the moment, I suspect that there will be a sharp correction in the offing and a lot of fingers will be burnt...
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