You know, I've read some many articles, here and elsewhere that say such and such, and this and that, but I wanted the 'bottom line' so - I just made a call to my friend the coin dealer/smelter and he gave me the latest on what is going to happen and I will relate his comments here, exactly as he told me (and btw, this person has been in the silver/ gold smelting business, along with buying and selling rare coins - since 1978). He told me that there are two things that come into play right now. Firstly, it's the vote by the FCC on this 'Electronically Traded Fund' issue (it's a silver fund) -so each share of stock, represents silver). Now, I don't like what he told me, but I'll put it in quotes: "No matter how the FCC votes on the ETF, silver will come down"!
This -I did not want to hear (I wish he had said that silver might go $44 an oz or higher) but it made sense as he went on. Whether or not the FCC passes this ETF - it is speculation that is driving silver up right now.
As a long time friend, he adised me that silver might go $5 higher than todays close at $14.00 ($19 an oz) and concluded with: "that is where you want to sell your silver holding."
So, this is the latest and best information that I have and with this personal friend of mine being in the business (truly being in the know)- I've now set my goal - and will sell all of my silver holdings at $18.85 area. (he did go on to say that silver could very well go to $25, but I won't be greedy and my goal is now set).
Also, for all silver followers here, he also stated that the FCC is "keeping it a secret as to when they will vote on this ETF issue!" So, I'm a gambler of sorts and will go with what I've just been told today at 5:25pm cst and I'm setting my goal in stone so to speak. My goal for selling silver my own personal holdings of silver - is now: $18.85.
The last thing I asked my friend was this: "Aren't I correct that this ETF issue and silver spiraling upwards so drastically the past four months - has no relationship to gold going up." -And he stated - "that is correct." I then said..."that when I do sell my silver -shouldn't I then immediately (the same moment) put the proceeds in gold (U S Eagles or South African Kruggerands) and he firmly stated "yes."
So, that's my goal here and I hope my fellow FReepers will benefit from all that is posted here in this thread. / bttt