Silver price discussion and analysis

[Mr Z]

Re: SILVER

Why?

This is a driven futures event, IMO gold has been used to help cover a large difficult to exit position in silver. This is my read of the relative price action, COT data, Comex data etc. I believe that the brakes are now coming off gold which could well keep the ratio steady or moving into golds favor. Either way, before May, and if you are not going to cash, you need to be trading the ratio and moving to gold.



JMO.

 

[sinner]

Re: SILVER

if you are not going to cash, you need to be trading the ratio and moving to gold.



JMO.

I fully concur. Not to mention, gold is not the only thing cheap in silver right now!

 

[Mr Z]

Re: SILVER

Did I say "driven futures".... I meant "futures driven" ! Dyslexia rules KO! :

 

[explod]

Re: SILVER

http://moneymorning.com/ppc/Silver_1210_c.php?code=X304M103&gclid=CNDMrv6Qi6gCFcSBpAodpFmtCQ

US$150 to 250 this year.

Another dud forcaster maybe?

Pow, blam, duck.

 

[Mr Z]

Re: SILVER

http://moneymorning.com/ppc/Silver_1210_c.php?code=X304M103&gclid=CNDMrv6Qi6gCFcSBpAodpFmtCQ

US$150 to 250 this year.

Another dud forcaster maybe?

Pow, blam, duck.

But... never say never

 

[Agentm]

Re: SILVER

 

[Logique]

Re: SILVER

That's what I like to hear Explod.
Money Morning also say that silver will beat gold this year. I see that Gold:Silver is at 36.8, which is well down from the mid-40s level earlier in the year.

http://moneymorning.com/ppc/Silver_1210_c.php?code=X304M103&gclid=CNDMrv6Qi6gCFcSBpAodpFmtCQ

...And with Ben Bernanke and the fellas at the Federal Reserve doing their best to crush the dollar, you can bet silver will keep going up this year.

Based on history and the dismal dollar, silver prices could reach $150 per ounce this year.

But nearly half of all silver doesn't get turned into coins, bullion bars or jewelry. Instead, it's used by industry to make everything from mirrors and musical instruments to methanol and medical equipment.

And with industrial demand finally returning after the 2008 crash, silver prices could soar even higher. Silver could be in for the ride of a lifetime, with prices reaching as high as $250 per ounce by the end of the year...

 

[DB008]

Re: SILVER

Broke the $40 US barrier a few hours ago (sitting @$40.20US). See how it holds out tonight...$50 is the next psychological barrier.

 

[Mr Z]

Re: SILVER

Now if someone could just take the AUD out to the woodshed :

 

[prawn_86]

Re: SILVER

Now if someone could just take the AUD out to the woodshed :

Unfortunately this whole story is more about USD weakness. Will take a serious turnaround from Obama and Uncle Sam to get the AUD/USD cross back down into the 80's

 

[Mr Z]

Re: SILVER

Silver has a bit more than USD weakness going for it and of late we have seen the USD and the precious metals move in tandem quite often. I don't think that it is anywhere near that simple anymore. This is more a game of track the liquidity through the crazy maze.

 

[prawn_86]

Re: SILVER

Silver has a bit more than USD weakness going for it and of late we have seen the USD and the precious metals move in tandem quite often. I don't think that it is anywhere near that simple anymore. This is more a game of track the liquidity through the crazy maze.

Sorry i was referring to the AUD/USD, not silver overall.

 

[professor_frink]

Re: SILVER

Unfortunately this whole story is more about USD weakness. Will take a serious turnaround from Obama and Uncle Sam to get the AUD/USD cross back down into the 80's

Personally I think the Silver story is just as much about rampant speculation these days as USD weakness

:run:

 

[Frank D]

Re: SILVER

Silver

I think Silver is a long term LONG play, as in BUY the dips...

However, it's too high now in the Primary and Secondary cycles.

Next long term BUY would be around the 3-month lows or in the 3rd Quarter,
setting up for further gains in 2012

 

[Mr Z]

Re: SILVER

The COT data looks like we are setting up for a short term top and a fight for $40. FWIW the small specs look vulnerable here so unless the large specs have got their back (delayed data, we can't see that right now!) this should turn down near term. Maybe ~42 then ~40 'test' with the small specs getting shaken down would be good, they are the weak hands here.

 

[Mr Z]

Re: SILVER

Personally I think the Silver story is just as much about rampant speculation these days as USD weakness

:run:

Not totally, this is a 'pressure release' that involves the winding back of some of the big proprietary trading desks. Silver is redressing a balance that has been out of kilter for a long time. It will go to far up, for sure, then on the correction the new floor should emerge. Franks timing sounds to me to be about right, by my estimation we have hit the final phases of this move, I anticipate a top in the next month or two, the risk is certainly rising rapidly here.

 

[explod]

Re: SILVER

At I Wrights this morning. They can no longer supply half kilo or above in silver bars. Any silver at all is very scarce. I was able to fill my needs today in coin.

 

[Logique]

Re: SILVER

At I Wrights this morning. They can no longer supply half kilo or above in silver bars. Any silver at all is very scarce. I was able to fill my needs today in coin.

A challenge to Z and the others, who probably have an eye on the chart under, as do I for that matter, but I trade what I see, and I see a clear uptrend in silver.

Q: Which milestone for silver USD/oz will come first - $50 or $30?

http://www.fgmr.com/nothing-scary-about-these-charts.html (Last Gold:Silver - 36.05)

 

[explod]

Re: SILVER

So what about US$6,000 per ounce in a few years ?

http://www.youtube.com/watch?v=I_AvvvNOzNU&feature=fvwrel

I cant get my head round it but its looking hot all the same to this little ole black duck.

 

[tothemax6]

Re: SILVER

At I Wrights this morning. They can no longer supply half kilo or above in silver bars. Any silver at all is very scarce. I was able to fill my needs today in coin.

Lol, I get this image of you having a big treasure cave, filled with piles of silver bars and pieces of eight.