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The Rise In Silver Is Breathtaking
The Business Insider ^
| 11-8-2010
| Joe Weisenthal
Posted on 11/08/2010 10:38:06 AM PST by blam
The Rise In Silver Is Breathtaking
Joe Weisenthal
Nov. 8, 2010, 1:13 PM
Gold broke $1400 today, and that's getting the headlines... but the real story is in silver.
This chart should take your breath way.
And bear in mind that the dollar is higher today, which shows just how intensely the buying in the precious metals is right now.
[snip]
(Excerpt) Read more at businessinsider.com ...
TOPICS: News/Current Events
KEYWORDS: commodities; copper; gold; silver
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1
posted on
11/08/2010 10:38:10 AM PST
by
blam
To: blam
Those old worn coins are looking better and better each day. The mercury dime that the tooth fairy left under my pillow is now worth almost $2.00 in silver value alone.
To: blam
3
posted on
11/08/2010 10:43:15 AM PST
by
blam
To: blam
4
posted on
11/08/2010 10:43:53 AM PST
by
Antoninus
(Fair warning: If Romney's the GOP nominee in 2012, I'm looking for a new party.)
To: blam
At 15-1 ratio, we’re possibly looking at 90+ dollars an ounce for silver.
At 20-1, that’s 70 dollars - almost triple where it is now.
The guys that track open contracts say there are over 150,000 open contracts for silver. EACH CONTRACT IS FIVE THOUSAND OUNCES!
THAT’S SEVEN HUNDRED AND FIFTY MILLION OUNCES THE BULLION BANKS ARE COMMITTED FOR!
Estimates are there are only a billion ounces of silver above ground in usable form...
And unlike gold, silver is indispensable to the industries that use it. They might only use a nickel’s worth in their product, but in most cases there is NO SUBSTITUTE. Production would simply cease if they can’t get silver. We’re talking electronics here folks, cell phones, big screen tv’s, computers.
Do your own due diligence!
5
posted on
11/08/2010 10:54:53 AM PST
by
djf
(The word "concise" is too big!)
To: djf
Gold usually trades for 50 times the price of silver.
This means silver at $300.00 an oz.
6
posted on
11/08/2010 10:58:35 AM PST
by
stockpirate
("......When the government fears the people you have liberty." Thomas Jefferson)
To: stockpirate
'Free Silver 16:1'
≈$88/oz.
7
posted on
11/08/2010 11:07:48 AM PST
by
null and void
(We are now in day 655 of our national holiday from reality. - 0bama really isn't one of US.)
To: djf
The guys that track open contracts say there are over 150,000 open contracts for silver. EACH CONTRACT IS FIVE THOUSAND OUNCES! THAT’S SEVEN HUNDRED AND FIFTY MILLION OUNCES THE BULLION BANKS ARE COMMITTED FOR! Estimates are there are only a billion ounces of silver above ground in usable form... Hmmm. You neglected the mini-contracts. You neglected to state that many contracts are for silver yet to be mined. You neglected to state what percentage of contracts actually have delivery notices issued.
8
posted on
11/08/2010 11:07:56 AM PST
by
SeeSac
To: stockpirate
Decimal in the wrong place. More like $28
To: stockpirate
Gold usually trades for 50 times the price of silver. This means silver at $300.00 an oz. 50 x $300.00 = ?
10
posted on
11/08/2010 11:09:28 AM PST
by
SeeSac
To: trailboss800
Which, oddly enough, is just about where it is...
11
posted on
11/08/2010 11:11:00 AM PST
by
null and void
(We are now in day 655 of our national holiday from reality. - 0bama really isn't one of US.)
To: blam
I bought both gold and silver about a year ago. The silver has more than doubled and the gold is up about 10%. I don’t believe that it is really related to inflation. My guess is that speculators are driving the price up.
12
posted on
11/08/2010 11:13:53 AM PST
by
richardtavor
(One of the rare establishment Republicans backed by the "Tea Party" movement that wants limited gove)
To: trailboss800
Sorry guys there is another thread saying gold to hit $15,000.00 an oz.
13
posted on
11/08/2010 11:16:23 AM PST
by
stockpirate
("......When the government fears the people you have liberty." Thomas Jefferson)
To: SeeSac
14
posted on
11/08/2010 11:17:51 AM PST
by
stockpirate
("......When the government fears the people you have liberty." Thomas Jefferson)
To: blam
To: richardtavor
I bought silver for years, then spaced it after Sept. 11th for 3 - 4 years. I almost cry when I see it was at $4 an ounce back then.
16
posted on
11/08/2010 11:59:35 AM PST
by
enraged
To: stockpirate
If gold is at 1400 an ounce, a 50:1 ratio would mean silver would be at $28 dollars an ounce. A 5:1 ratio would put silver at $280 per ounce.
17
posted on
11/08/2010 12:12:11 PM PST
by
Secret Agent Man
(I'd like to tell you, but then I'd have to kill you.)
To: Secret Agent Man
Well today silver is at about 2-27 dollars an oz.
18
posted on
11/08/2010 12:50:10 PM PST
by
stockpirate
("......When the government fears the people you have liberty." Thomas Jefferson)
To: Secret Agent Man
Sorry 26-27 doaalrs an oz. 50:1
19
posted on
11/08/2010 1:24:00 PM PST
by
stockpirate
("......When the government fears the people you have liberty." Thomas Jefferson)
To: blam
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