Silver @ $19.66 oz will it break $20

[RIcoinhunter]

Silver has been on the rise all week.Think it's going to clear $20 an Oz?

 

[FreedomUIC]

Silver just hit $20.16.....

 

[golden silver]

Ummmm judging by the market today I will answer yes. I even call 25.00+

Golden Silver

 

[Tuberale]

Just dropped back to $19.96 @ Kitco.com I'll have to think about this ...

 

[jim4silver]

I even call 25.00+

Golden Silver

One day yes, but not yet in my opinion. If we hit 25+ before the end of the year I will be very surprised. By the time the bull market finally ends I think we will go past the old prior high of around 50 bucks. But when that will happen I don't know.

I still think the big players are gonna knock silver (and gold) back down before too long like they have all through this bull market. I would like to see silver at 15 again for a short time so I can buy more.

Jim

 

[jeff of pa]

Soon after briefly touching a nearly 30-month high of $20.04 an ounce early in the trading session Tuesday, silver dipped as low as $19.68. The white metal managed to make a bid back up to its earlier highs, scratching $19.90 before falling back down to a close of $19.82 an ounce on the COMEX.

Profit-taking and outside market factors such as a stronger dollar, lower oil prices, and weak equity markets were no doubt responsible for the selling pressure. The greenback strengthened against a declining euro and other major currencies. News out of China concerning slower factory output in the second half of 2010 didn’t help industrial silver, either.

http://silverinvestingnews.com/4082/silver-at-21-an-ounce-this-september.html

 

[Ju8vP3t]

Soon after briefly touching a nearly 30-month high of $20.04 an ounce early in the trading session Tuesday, silver dipped as low as $19.68. The white metal managed to make a bid back up to its earlier highs, scratching $19.90 before falling back down to a close of $19.82 an ounce on the COMEX.

Profit-taking and outside market factors such as a stronger dollar, lower oil prices, and weak equity markets were no doubt responsible for the selling pressure. The greenback strengthened against a declining euro and other major currencies. News out of China concerning slower factory output in the second half of 2010 didn’t help industrial silver, either.

http://silverinvestingnews.com/4082/silver-at-21-an-ounce-this-september.html

 

[jeff of pa]

$20.00 is sort of a Magic number for silver yet.

Personally I Think it scares People into selling.

I still want to see it hit $3.50 again

 

[2Cents]

It hit $20.04 this morning. It's at $19.99 currently.

 

[mts]

I still want to see it hit $3.50 again

Me too. However, unless silver drops down to $3.50 within a couple of days (which will never happen), all of us would buy too soon and end up sitting on huge piles of silver that we paid way too much for.

The big problem is that no one will be able to hold off from buying until it gets that low. The same thing happens to me with the stock market all the time. When silver hits $17 I'm going to rejoice and assume that it can't get any lower. I'll buy about $10k worth. When it then keeps dropping to $15 I'm going to be crying the blues but I may, once again, assume that it's hit bottom and buy another $10k worth. When it then drops to $10 I'm going to be beside myself, but I may still buy some more at that price. This will go on and on until it finally reaches $3.50 at which point I'll be so upset that I will probably shoot myself.

And it probably goes without saying that you can pick any low price (even something way above $3.50) and you get the exact same phenomenon occurring. I bought Microsoft stock at $26 thinking that there was no way it would continue going any lower than that. When Microsoft hit $23 I was singing the blues.

 

[fistfulladirt]

if it hits $3.50 there will be a $17 premium. Am I wrong?

 

[mts]

if it hits $3.50 there will be a $17 premium. Am I wrong?

You have made a good point. I don't think the premium would be $17 but it would be much higher than what most of us would expect. I think the $18 price range is a well established level where silver has been hovering for a very long time. I wouldn't be surprised to see silver fall back to that level this winter. Silver will need to stay above $20 for a few months before people will consider that to be a well established support level.

 

[2Cents]

We are at $20.30.

 

[jeff of pa]

if it hits $3.50 there will be a $17 premium. Am I wrong?

Yea unfortunately

 

[FreedomUIC]

We are at $20.30.

$20.36 now, and gold is up over $20.00 an oz......Craziness I tell ya....

 

[mts]

I can't believe that gold has been over $1200 for a while now. Back when it was just over $1000 I made the decision not to buy because I was afraid that when people came to their senses it would fall quite a bit. Now I'm wondering if people will ever come to their senses. Should I buy now before it goes up to $2000?

 

[AGCoinHunter]

I can't believe that gold has been over $1200 for a while now. Back when it was just over $1000 I made the decision not to buy because I was afraid that when people came to their senses it would fall quite a bit. Now I'm wondering if people will ever come to their senses. Should I buy now before it goes up to $2000?

I hear you, I am so hesitant to buy at these levels. The money flowing into gold is a direct result of this admins fiscal policy. Depending on what happens in less than 60 days, gold could see some steep drops I feel. I dont want to be caught holding a bunch of $1300 oz gold when the bottom falls out.

 

[Goose-0]

10:40am CT - Gold up $27/oz to $1274, Silver up 35c/oz to $20.50/oz. Well? The silver price means that a silver U S coin is worth 14.8 X the face value of the coin....a silver dime is worth $1.48 for its silve content, a quarter worth $3.70, etc.

 

[Fredness]

$20.58 up to 14.89 X face

 

[quiksilver]

lol this was about 10 days ago