Is Silver the new (better) Gold?
- Thread starter Tilted
- Start date
Tilted
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I haven't posted for a few days and in that time Silver has seen a major correction. It's down to around $36 right now.
Commodities in general have been getting hammered over the last few days and today in particular. Some have seen amazingly quick moves to the downside (e.g. Oil is off about $9 and Silver is off about $3 just today). This is what can happen in highly levered markets - a great deal of volatility created by a lot of people needing (or thinking they need) to move at the same time.
Silver's move is partially a part of the general move in commodities, partially a much overdue correction for it in particular, and partially due to developments that relate to it in specific (e.g. news that a couple of the most recognized hedge fund managers have been dumping Silver, recent changes in margin requirements for Silver futures traders).
Commodities in general have been getting hammered over the last few days and today in particular. Some have seen amazingly quick moves to the downside (e.g. Oil is off about $9 and Silver is off about $3 just today). This is what can happen in highly levered markets - a great deal of volatility created by a lot of people needing (or thinking they need) to move at the same time.
Silver's move is partially a part of the general move in commodities, partially a much overdue correction for it in particular, and partially due to developments that relate to it in specific (e.g. news that a couple of the most recognized hedge fund managers have been dumping Silver, recent changes in margin requirements for Silver futures traders).
GWguy
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I'm reading alot about silver, and half the camp says the boom is over, these are now the prices to expect, and the other half is still saying prices will rise to near $50 shortly due to overseas and industrial demand.
I've got my investments planted and just waiting to see what happens next.
Tilted
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After bouncing around $35 for a while, Silver has been on a mini-run for the last week and is above $40 again this morning. The melt value of your old silver coins is currently around 30 times their face value.
Gold has reached nominal highs over the last few trading days, it's just over $1,600 this morning.
Gold has reached nominal highs over the last few trading days, it's just over $1,600 this morning.
Tilted
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My timing on SLW was bad, but I did manage to get out of it up a few bucks. I still have a tiny bit of PAAS, though I doubt I'll hold it much longer.