jackdevil
Elite Member
Anyone else notice that silver is about $34/oz now...it was at like $27 in December. I've been hearing that it could make it over a hundred....
For awhile now silver has had resistance at $30.50. So last week when it hit $30.50 again I sold two rolls of silver eagles. Now that it is finally going higher who knows how far it will go. At least I have more to sell as it goes up. The biggest problem for many will be that the price of oil right now on world markets is up over $5.00 per barrel which will translate into higher prices at the pump and in the grocery store since transportation cost is a big part of food prices.
Assuming we don't have major terrorist attack, I can see $50 by the end of the year.....
Dusty
The fall of 2008 brought our economy to the brink and the thought of future economic turmoil was a certainty. many invisioned inflation, but did not anticipate two bailout packages, QE2, the frail Europe and a middle east in turmoil. Owning silver is a much more volitile than gold and has been steadily hammering out new highs in the recent months.
The gold/silver ratio seems to be steadily droping to the low 40's from highs in 2008 in the 90% mark, so keep an eye on this current breakout and hope gold continues with its assult toward $2000/oz so silver can follow. The 'poor man's gold' seems to be a good bet at this point, an industrial metal that is consumed and the world's supply is steadily dwindling as opposed to gold.
Why I joined a nudist colony........................It's a big part of a lot of stuff!!! Clothing is going up too.
Dusty
Coffee too.......arrrrrgggghhh!!It's a big part of a lot of stuff!!! Clothing is going up too.
Dusty
Coffee too.......arrrrrgggghhh!!