Sunday, March 6, 2011

Silver soars to $36.30 per ounce

Posting from a wedding, watching the price go to nosebleed levels. Hoping for a price correction. Wow what a move!!

4 comments:

  1. I have been watching Al Jazeera and noticing how the escalating violence in Libya has gone from bad to worse. Even on Al Jazeera, they were talking about how gold and silver are the best places for people to put their money with all the instability in the middle east.

    Do you think that silver will hit 50 bucks an ounce by 2012?

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  2. I'm fairly confident that $50 will be attained by then, but then again markets have a mind of their own and act in bizarre ways. Who could have ever predicted the insane price action of the past month??

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  3. waiting for a price correction is a fool's game. If you believe in silver's fundamentals, just buy now. It's as simple as that. The silver market is a long term investment, not a timed investment.

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  4. Per Chris Martenson:

    "There's a scenario that could play out between May and September in which commodities (including my beloved silver) and the stock and bond markets could all sell off between 20% and 40%. The trigger will be the cessation of QE II and a multi-month pause before QE III.

    This is a reversal in my thinking from the outright inflationary 'buy with both hands' bent that I have held for the past two years. Even though it's quite a speculative analysis at this early stage, it is a possibility that we must consider.

    Important note: This is a short-term scenario that stems from my trading days, so if you are a long-term holder of a core position in gold and silver, as am I, nothing has changed in my extended outlook for these metals. The fiscal and monetary path we are on has a very high likelihood of failure over the coming decade, and I see nothing that shakes that view."

    Subprime: this is exactly what I discussed last week. Silver's run is dependent on the federal reserves money printing operations which may stall in the coming months.

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