Silver shines but equities decline (Silver breaks $10/ounce! 22-year high!)

Yahoo/Financial Times ^ | 3-2-06 | Dave Shellock

[Atlas Sneezed]

The prospect of further rises in interest rates in the eurozone unnerved both equity and bond markets on Thursday.

...

The price of silver rose to a fresh 22-year high above $10 an ounce amid expectations that a silver exchange-traded fund would soon receive US regulatory approval.

[Travis McGee]

Yep. We might not see $9 silver again.

[CodeToad]

Your #29 - Nice post. Made sense.

[Sic Luceat Lux]

I very much agree; I don't think so now. I was on foxnews front page earlier and I saw a story about silver and why it's raising. I should have saved it, but I didn't. Let me ck to see if it's still there. Was something some kind of new plan going into effect; just don't remember. bbl

[Sic Luceat Lux]

Just checked and the article I saw isn't at Fox. It's at: The Economic Times website via kitco.com:

http://economictimes.indiatimes.com/articleshow/1454336.cms

* * *

"Silver on a roll, hits a new 22-year peak"

TIMES NEWS NETWORK[ SATURDAY, MARCH 18, 2006 12:37:54 AM]

MUMBAI:
Spot silver stole the show in European trading on Friday, hitting a new 22-year high of $10.4 an ounce, the loftiest level since October 1983, on hopes that a proposed exchange-traded fund (ETF) will be launched soon. A softer dollar and steady gold prices also boosted the buying sentiment to some extent.... (see rest of article)

http://economictimes.indiatimes.com/articleshow/1454336.cms

[Sic Luceat Lux]

fyi

[Sic Luceat Lux]

fyi

[Sic Luceat Lux]

my #84/ interesting article

[Travis McGee]

I just read something on Gold-Eagle.com, or somewhere. Anyway, silver is called, "the poor man's gold." As fiat currencies devalue/hyperinflate and collapse, the demand for "real money" is going to really take off. That means silver will be in tremendous demand, even compared to gold.

[Freedom4US]

"Such is the power of compound interest, something you don't get by holding precious metals.

Not anymore, no. The gubbmint' saw to that, didn't they?

[razorback-bert]

Drilling for gas.

[Mr Cobol]

I'm waiting for silver to go to 20.00 now but the metal I'm going to trade in my gold for is

palladium

[barkeep]

Aside from "poor man's gold", silver is much more subject to market manipulation, in that supply is more difficult to expand. I have no doubt it will end the year with a firm floor above $20. Between Iran/Israel, China/Taiwn, and the opening of the Iranian Euro based oil bourse, that level may be reached before Easter.

I stayed out of silver for a long time, the Hunt debacle kept it depressed against gold in the public perception, but I got in the Hunt market at $3.70 and bailed out at 10 to 1. If I'm really lucky, time for another ride.

[Sic Luceat Lux]

I agree totally.
Btw, as I've done with silver in other times when it was spiraling upward, I'd like to set a specific goal for silver to reach, then sell at that point and lock in a profit. The problem is, I think that silver will continue this upward spiral for the next year and one-half, perhaps two years. Anyway, for now there is no sense in wondering about setting a goal yet.

[Sic Luceat Lux]

time for another ride.

Yes, and that time is now here again.

[freepatriot32]

i bought some silver a few years ago and then sold it all when it hit 6.50 an ounce cause ithought it couldt go much higher aaaarrrrgggghhhh (in my past life i probably bought an brand new edsel lol)

[Travis McGee]

We may be sailing into totally uncharted (for the USA) waters here. THat is: would you sell your silver for "Weimar dollars" just before our fiat FRNs totally implode? You might wind up with literally a "paper profit." I'd hold some silver back, in case we do see a complete collapse of the "Weimar Dollar."

[Sic Luceat Lux]

There is no telling what these metals will do, but upwards is where all the momentum is.
(I'll be out of town for awhile and not posting, see you later on frd)

[Atlas Sneezed]

Averaging out (or in) is the answer for future reference.

[Centurion2000]

Got all mine for under 4.00 and stopped buying in 2002.

ditto .... If it breaks 11.00 I'm gonna dump it.

[Diana in Wisconsin]

My silver holdings and I are VERY happy today! :) One step closer to retiring at age 55. I've been trading commodities for decades with my Dad. It's our "Dad & Daughter Hobby" right after killin' & grillin' things, LOL!

We haven't lost dime-one on silver in over 5 years now. It's been generating, on average, $80 a day for us. Sorry some of the rest of you didn't get in on this one. It's been a fun and relatively painless ride. :)

Now, I'll just sit back and wait for someone with no silver holdings to come by and tell me how stupid I am, LOL!