CoinsAreFun
US Coins, World Coins, and More => Bullion, Silver and Gold, PM market => Topic started by: coinsarefun on February 18, 2011, 11:27:01 AM
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Till it goes up.......or will it stabilize and go down?
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I'm not a financial analyst, but my gut feeling is that it will continue to rise because people are still buying. On the bad side, once the buying slows and profit-taking begins, the price will drop back into the lower to mid-20's. Anyone who is buying now as it continues to rise will either have to sell quickly when the price starts to drop or be prepared to hold onto it for a while praying for a recovery.
I've noticed this "peak & valley" trend going back to when silver was less than $6/oz. It rose to $10-$12, stayed there briefly, then dropped back to $8-$9; then it rose again to the $14-$16 level, remained there briefly, then dropped back to about $12. This cycle has been repeated several times, and most often, the "peak" periods are a much shorter span of time compared to the "valley" periods.
Chris
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Long term silver is strong. Not only considering that production has not been able to meet demand for more than a decade, but most commodities will see an upward trend as long as the Fed keeps running the printing press.
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Now it finally broke the $35 mark.......maybe on its way to $40!