Silver back up

bobr · Sep 20, 2007

I see that silver is back up to 13.31. Nothing to whoop about yet, but I hope it continues.

For those of you who are wondering how I did on my trip to the diamond mine, in one word, skunked. They say that only 2 to 4 diamonds are found a day there. I didn't have any luck any day I was there. Pretty country and friendly people. The banks had halves, but the best I got was 5 rolls of 1991 D in BU condition.

P.S. Don't plan on driving too far in one day. It doesn't allow enough time to stop at banks and get to your destination at a reasonable hour.

kestrelia · Sep 20, 2007

I heard recently that as the dollar goes down the price of commodities (silver, gas, etc.) goes up as they are priced in dollars and it cost more dollars to buy them. This could be part of the reason.

Brian

packerbacker · Sep 20, 2007

Yah, I've been watching that today. It's at $13.35 now. It was hovering around $14 a while back. I need it to get back there!

jewelerdave · Sep 20, 2007

Silver up for most of us is a good thing, Unfortunately the fact is the dollar is just crashing.

So basically if you were making $10 per hour yesterday on the world market you got a pay decrease to say 9.75 today.

Or worse yet in the last 5 years if you were making $10 an hour 5 years ago your only making about $6 an hour now.

Its not that prices are going up, its that the dollar is down.

expect an increase in Gas, Milk, food, basic services, higher interest rates etc, lower value on your home, car and all that wonderful stuff.

expect that it is going to get a lot worse before it gets better unless the government revalues our currency.