I just heard an ad on Fox News yesterday predicting that because of the high demand for solar panels, silver is poised to top $100/troy ounce. Get your silver today!
Was that buy through Roseland Capital? Ugh. :-)
Long term, I’m a gold guy. But IMHO this is a buying opportunity for a seriously undervalued asset. Even if silver remains low relative to the dollar I would expect to be able to flip it at some point for gold. All of which said, we are in what may be the early stages of a financial crisis and IAM NOT CALLING A BOTTOM IN SILVER. It may well continue to decline. Long term though I think this is cheap. I prefer to buy assets on their way down, not up. Your mileage may vary. Do your own due diligence. Caveat emptor.
https://www.reuters.com/article/silver-solar-idUSL8N1DV4R5
Photovoltaic demand for silver took off in 2011, but a jump in prices to nearly $50 an ounce that year encouraged the industry to move away from thick-film technology to thin-film systems that use less silver.
A typical photovoltaic cell generating up to 4 watts used 0.17 grams of silver in 2014, down from 0.3 grams in 2010.
“They’re adding more busbars (metallic strips that conduct electricity) to the cell, which adds more lines but decreases the amount of silver per cell,” said John Smirnow, secretary-general of the Global Solar Council.
“You’re also seeing some investment in replacing silver with copper,” he said.
The key word being *ad*. (grin)
Still, long term, I can't help thinking gold & silver are a good disaster hedge. Note I said disaster hedge, not "investment".
Gold is out of my range, but I've been stacking silver for years. I figure if it doesn't all come crashing down while I am alive, my daughter will get it. Fine by me. She is a serious and smart tightwad so any money she gets is never wasted.
Thank goodness precious metals hold their values so well.. one can never have enough gold and silver around for a rainy day.
Fortunately, Wifey has never parted with any of hers .. only adds more and more to the hoard. dang those shopping channels.
I thought one of those silver experts predicted $200/oz. on that commercial?
William Devane needs to renegotiate his contract with Rosland Capital if the price keeps dropping.