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Silver price


#1

So what happened to the hike in silver prices?

Richard Whitehouse
UK

Email: riich@rw.clara.net


#2
So what happened to the hike in silver prices?

I’m embarrassed to respond on this because I really thought it
was going to go up to around $15 so I stocked up at $7. Oh well,
with my luck it would have if I hadn’t bought. Soooo, be nice,
maybe I saved you all a bunch (grin).

Nancy
Bacliff, Texas Gulf Coast USA


#3

What $15 for how much what grade; you ever done this before? RS
please keep my name and info. confidential. RS


#4

You are so nice miss; silver is going to turn as soon as we loose
this Clinton problem and a little confidence in the economy. You
gave a good rate lever – wouldn’t use it as an otion for trading
but a fair amateur analysis. I like your style then people who run
headlong into the market not knowing silver is not a metal of
choice for jewelry speculations, PLAT is not the software cco. the
derivative/ commoditty. it has grown steadilly and held when gold
tumbled.

15 yrs. Not by the month historicaly you made a sound decision. If
I have my weights and we are talking bullion and not sterling. RS


#5

Hello all, I’ve been watching with great interest as the price of
silver has risen abov e $8.00. I haven’t seen any discussion of this
as of yet. Visit Kitco.com for a great historical look at spotA0
price trends. The big question now is (crystal ball) when do I sell
the big bucket of silver scrap I’ve been adding to for several years?
Anyone have any ideas on what’s going on to force the spot price of
silver t o rise? Any wild guesses on where it top out??

Be well
David


#6

David, Any of the Hunt brothers still alive? I think last time
around many got stuck buying high and watching the bottom drop.

Been there, have seen that, will buy what I need when I need it and
let others gamble. About your big bucket, well, use what you can,
refine what you can’t, save some, and let some go.

Wild guesses are just that guesses, half may guess correctly, and
half incorrectly. How does that impact you? If you sell now at $8.00
and sometime in the future must buy at $10.00, well what then?

Evaluate what your future needs will be and act accordingly.

Teresa


#7
    Anyone have any ideas on what's going on to force the spot
price of silver t o rise? Any wild guesses on where it top out?? 

All the precious metals are appearing to rise in price but what is
happening is the dollar is dropping in value compared to the other
currencies in the world. Our current government has decided that a
weaker dollar is advantageous to some industries and supporters so
they have let the dollar fall. When this happens commodities that
have a world wide market appear to increase in price. If you look at
the value of the dollar compared to the price of the precious metals
markets you will see a strong correlation. For an article with more
on this go to

http://cbs.marketwatch.com/news/story.asp?guid=%7B3E4D2661-5366-467E-BF20-02BBDC9FB4C1%7D&siteid=mktw&dist=&archive=true

Jim Binnion James Binnion Metal Arts Phone (360) 756-6550 Toll Free
(877) 408 7287 Fax (360) 756-2160 http://www.mokume-gane.com
@James_Binnion Member of the Better Business Bureau


#8

Nobody has said anything about it yet, because we are all saving
this conversation for July when it hits $10.00… ok - that’s my
guess - $10.00 in July.


#9

All metal prices have been climbing during the last year. Unsettled
times usually lead to higher metal prices, but there are many factors
at work (value of the dollar, current supplies, etc) . If any one of
us knew exactly what they were going to do we’d be rich instead of
jewelers worrying about scrapping our piles of gold and silver.

Daniel R. Spirer, G.G. Spirer Somes Jewelers 1794 Massachusetts Ave.
Cambridge, MA 02140 617-491-6000 www.spirersomes.com
@spirersomes


#10
        Anyone have any ideas on what's going on to force the spot
price of silver t o rise? Any wild guesses on where it top out?? 

I read an article last fall on the futures market of precious metals
from a mining inhouse magazine. They had predicted the rise of silver
particularly because of depletion of reserves due to the war.
Material needed for munitions (particularly copper for brasses) is
mined and refined, and silver is stockpiled but not refined. They
predicted the rise of silver to be similar to that of mid-1970’s,
when it reached $36/oz., topping out in the late summer, at which
time they will have caught up to the demand of copper and can again
refine their silver stockpiles.

Gold tends to rise according to global politics as well, but for
different reasons. When a war breaks out, particularly when world
powers are threatened, gold will rise because people will buy it as a
hedge against devalued paper money, and as a portable and always good
source of bartering power. Diamonds are also used as a portable means
of fiduciary wealth and bartering power.

Sad, isn’t it?


#11

David, Silver isn’t going up so much as your dollar is going down.
This may continue for some time as the coming 1.5 trillion dollar
deficit kicks in. The wild card is if the Saudis get fed up and
start demanding payment in Euros instead of plummeting dollars
and/or Greenspan has to raise the Fed rate to attract foreign
investment in the government’s (your) debt. In either case hold on
to that silver for as long as possible. John Flynn


#12

David

I believe it is speculation, There has been a lot of hype on the
Montreal radio station that all you folks can pick up on the net. It
is on Friday evenings from 7 PM TO 8 PM here in Montreal on cjad.com
it is a one hour precious metal selling show, they go over the weeks
news and give all the reasons why they think that silver is the best
place to invest. There is a lot of interesting news items that may
surprise you when you hear it. They talk about the big New York bank
that may be in trouble, but that has been mentioned for over a year
now and I think I have been listening to this show for a couple of
years now, I listen to it now and again. Some times the show is
pre-empted for some sports events, but then the next week they are
back. He is pushing collectibles too, gold coins and all, he sells
to the people. It can be very entertaining.

My impression is these kinds of promotions all come up after the
stock markets fall and the guys on the late night TV are all pushing
get rich quick ideas of all kinds.

The internet scams all failed and that is the result of all that
Spam we get, it is the residues of all those folks sold a bill of
goods that don’t work, and they keep on trying to make money from
home.

Listen to the show with an open mind and relax don’t get too excited
as it may be easy to with those promoters, but the news items that
come up are quite interesting

I guess lots of buyers are pumping up the price, he said Warren
Buffet bought a truck load of silver so if he bought we should all do
like him, but I don’t think it will last most will get burned again
as these hucksters are making the money not the lowly investor.

I remember the Oriental guy living the life in Florida in the early
80’s with the Rolls Royce and the yacht and all those beautiful women
making a fortune buying houses with no money down, but you had to pay
him to find out how to do that, I hear he went to jail it was a big
scam the only money he could get was the money you paid him to find
out how to do what he said you could do. But in the end was
impossible anyway. Have fun,

Allan Creates
Perfectly Fabulous Fit Arthritic Shanks
P.O. Box 51 Cote St-Luc
Montreal, Quebec
Canada
Tel: 514-488-7553
Fax: 514-489-7299
Superringfit.com


#13
    Anyone have any ideas on what's going on to force the spot
price of silver to rise? Any wild guesses on where it top out?? 

In 1973, the Hunt family of Texas, possibly the richest family in
America at the time, decided to buy precious metals as a hedge
against inflation. Gold could not be held by private citizens at that
time, so the Hunts began to buy silver in enormous quantity.

In 1979 the sons of patriarch H.L. Hunt, Nelson Bunker and William
Herbert, together with some wealthy Arabs, formed a silver pool. In
a short period of time they had amassed more than 200 million ounces
of silver, equivalent to half the world’s deliverable supply.

When the Hunt’s had begun accumulating silver back in 1973 the price
was in the $1.95 / ounce range. Early in '79, the price was about $5.
Late '79 / early '80 the price was in the $50’s, peaking at $54.

Once the silver market was cornered, outsiders joined the chase but
a combination of changed trading rules on the New York Metals Market
(COMEX) and the intervention of the Federal Reserve put an end to
the game. The price began to slide, culminating in a 50% one-day
decline on March 27, 1980 as the price plummeted from $21.62 to
$10.80. (the above is a reprint of the Wall Street Journal article
from several years ago) I know people that lost millions of dollars
when the market plummeted and one gold dealer that committed suicide
less than an hour after I had seen him and sold him $23,000.00 worth
of gold, which could be held by citizens sometime after 1976.

This is a short version of the 1980s debacle brought on by among
other things the invasion of Afghanistan by the Russians. Which
caused every one to invest in metals, and our involvement in Iran, do
these conditions sound familiar?

I also found sources that speculate silver at 36.00 by July and
another that speculated Silver at 60.00 per troy OZ by Sept. with
gold topping out at 1063.00 but also keep in mind that the market
can collapse as fast as it rises, For now I just buy what I need for
immediate use, fortunately I had just bought 80 oz of sheet 75 oz of
wire and 200 oz casting grain while the market was at 6.03. just wish
I had bought more anti fire scale grain because that’s what I need
the most. But I suppose I could sell my sheet and wire in small lots
on eBay and clean up

As far as reasons, we are currently fighting two non winnable
confrontations which has caused our dollar to drop in value against
other currencies, we are loosing an economic struggle to maintain
jobs in our own country, and it’s all because we all want cheaper
goods, and we have a complete Idiot for a President. Now for the first
time in recent history Chinese residents are free to invest in Gold
and precious metals, and for the past several months the XAU gold
index has been slowly closing up on the American Dollar, if you don’t
like 8.00 silver your going to hate 4000.00 Platinum but bakers will
enjoy selling 5 dollar loaves of bread


#14

The US $100 bill is the safe asset saving device in most of the
world . A very high percentage of these and a lot of counterfeit
ones are in mattresses outside the US. There probably is a demand
to move these assets into precious metals that inflates the
industrial use demand and prices.

jesse


#15

Hi All,

Interesting that the price of silver and gold has increased so much

  • but I have a friend who works in PMC and she says the price of her
    material has not changed. Wouldn’t you think that it would rise
    accordingly?

G. Cleveland


#16
    Interesting that the price of silver and gold has increased so
much - but I have a friend who works in PMC and she says the price
of her material has not changed.  Wouldn't you think that it would
rise accordingly? 

Unless I am mistaken, while the price has not risen much, the amount
given in a package has been reduced.

Eve Welts
Certified PMC Instructor