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Silver Poised To Hit New Highs This Year

 
Anonymous Coward
User ID: 12343289
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03/13/2012 02:40 PM
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Silver Poised To Hit New Highs This Year
After the last 12 months of craziness traders can be forgiven if they've become inured to moves in precious metals. To those who swore off semi-precious silver last summer it's time to rue the day: Silver has rather quietly staged a more than 20% rally since the beginning of 2012.

According to Michael Purves, chief market strategist at BGC Financial, silver is apt to warrant more attention. "Silver is a poor man's gold and it's also very volatile," he says. "I think a lot of that volatility will be skewed to the upside".

And by "upside," he means a move to all time nominal highs. The semi-precious is "setting up for something more powerful; we could see $50 later this year," he states.


[link to finance.yahoo.com]
Anonymous Coward (OP)
User ID: 12343289
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03/13/2012 02:52 PM
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Re: Silver Poised To Hit New Highs This Year
Silver is at $33.4/oz. now.

I hope it goes down to $25 so I can buy more before it goes back up.
RedlicoriceRedux

User ID: 1284555
Canada
03/13/2012 02:57 PM
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Re: Silver Poised To Hit New Highs This Year
UP then

DOWN
Anonymous Coward (OP)
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03/13/2012 03:06 PM
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Re: Silver Poised To Hit New Highs This Year
UP then

DOWN
 Quoting: RedlicoriceRedux


Definitely!! Hopefully I can catch it when it comes down.
RedlicoriceRedux

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Canada
03/13/2012 03:07 PM
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Re: Silver Poised To Hit New Highs This Year
UP then

DOWN
 Quoting: RedlicoriceRedux


Definitely!! Hopefully I can catch it when it comes down.
 Quoting: Anonymous Coward 12343289


DOWN then

UP

The continual roller coaster.
Anonymous Coward
User ID: 12436168
United States
03/13/2012 03:09 PM
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Re: Silver Poised To Hit New Highs This Year
Jesus the lord told me and only me that if you don't have physical silver you are retarded.
Anonymous Coward (OP)
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03/13/2012 03:15 PM
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Re: Silver Poised To Hit New Highs This Year
Jesus the lord told me and only me that if you don't have physical silver you are retarded.
 Quoting: Anonymous Coward 12436168


Really?

When I buy more I was thinking of using an ETF. No room for more precious metals.
Anonymous Coward
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03/13/2012 04:51 PM
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Re: Silver Poised To Hit New Highs This Year
Jesus the lord told me and only me that if you don't have physical silver you are retarded.
 Quoting: Anonymous Coward 12436168


god told me and only me to not listen to jesus cus he's a nutcase...
The Silver TARD
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03/13/2012 04:59 PM
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Re: Silver Poised To Hit New Highs This Year
I posted this on another thread but it applies here and I would be interested in some feedback.

So... I used to think that it was the PMs (precious metals) that were "fluctuating" in value.

Now I am beginning to see that what the daily PM market is tracking is a mixture of "confidence" in and the "deflation" of the currencies in which the PMs are being priced - meaning:

PMs rise as confidence wanes and deflation waxes, and

PMs fall when confidence increases and "perceived" deflation has decreased or at least been temporarily halted.

Reading the daily change in the value of PMs in this manner is precisely what the TBTFPTB (too big to fail powers that be) are fighting tooth and nail because to admit same means that their e"CON"omy is a just that - an historic "worldwide" confidence game (read ponzi scheme) - they postpone the inevitable by literally pricing PMs in their debased currencies (paper lies) in order to condition the public to think (and this scheme has worked and will work until it doesn't) that it is the PMs that are the variable and their CURRENCIES that are the constant (i.e. permanent!)

Any thoughts or am I way off base here?

Re: Silver (and gold) the question becomes how confident are you in the strengthening or at a minimum continued purchasing power of the dollar - afterall it is world's reserve currency but for how much longer?
Anonymous Coward
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United States
03/13/2012 05:50 PM
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Re: Silver Poised To Hit New Highs This Year
I believe it!
Anonymous Coward
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03/13/2012 05:50 PM
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Re: Silver Poised To Hit New Highs This Year
Michael Purves: Hi-Yo, Silver!
[link to finance.yahoo.com]
Anonymous Coward
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03/13/2012 06:15 PM
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Re: Silver Poised To Hit New Highs This Year
All the PM Spot prices are totally manipulated, so why do people even bother checking that crap. I value all my silver at $100+ per oz when I barter for stuff.

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