Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,299
- Reactions
- 11,568
You saw it first here folks.
I would suggest is part of s short squeeze.$48?! Pffffft! I prefer $1528 like the video on the last page predicted.
I've been watching the price action this morning and it does seem like someone (plural) with deep pockets is trying to keep a lid on the price. It can't just be profit taking because the periodic sell offs are too steep, too sudden and too calculated. There is definitely a massive war going on in the silver market between bulls and bears and the bulls are winning, which is a rare thing for silver. Traders and investors are finally hungry for it, and there is also the added bonus of it being dragged up by gold.
I think we will see $30 this year, just based on the huge change in sentiment we have seen sine late February. Precious metals are hot and I can't see any reason for a change in sentiment any time soon.
30$? You mean falling?$48?! Pffffft! I prefer $1528 like the video on the last page predicted.
I've been watching the price action this morning and it does seem like someone (plural) with deep pockets is trying to keep a lid on the price. It can't just be profit taking because the periodic sell offs are too steep, too sudden and too calculated. There is definitely a massive war going on in the silver market between bulls and bears and the bulls are winning, which is a rare thing for silver. Traders and investors are finally hungry for it, and there is also the added bonus of it being dragged up by gold.
I think we will see $30 this year, just based on the huge change in sentiment we have seen sine late February. Precious metals are hot and I can't see any reason for a change in sentiment any time soon.
30$? You mean falling?
I thought so , then multiplied by 1.5 and was still puzzled so my post...and then I realised I forgot how low the AUD is lately.my mistakeSorry, US$30. I forgot to add the US$ in my post above.
MUMBAI (Reuters) - India's silver imports surged by 260% in February to a record high, as lower duties encouraged large purchases from the United Arab Emirates (UAE), government and industry officials told Reuters, adding they were on track to increase by 66% this year.
Higher demand in India, the world's biggest silver consumer, could support global prices trading near their highest in three years.
India imported a record 2,295 metric tons of silver in February, up from 637 tons in January, said a government official, who declined to be named as he was not authorised to talk to the media.
The all time high for silver in USD was around 48.50 back in mid April of 2011.Silver now at 11 year highs. There were a couple of days in 2020 and 2021 where it saw higher, but these were just intraday price spikes and it closed much lower each time. This bull run looks like it has legs. Silver is just about to break through US$29 and looks like it could easily hit US$30 next week if the run continues.
In AUD terms, silver is up almost 32% in less than 3 months. Crazy.
The all time high for silver in USD was around 48.50 back in mid April of 2011.
At the time, the AUD/USD pair were close to parity, so the all time high for silver in AUD is around the same, maybe a bit less.
I keep waiting for a correction.
May it not come for some time, at least till I have taken all the profits on offer.
Mick
Does anyone know what happened in 2010? Are we about to see it again?
Much of the rise in both metals is seen as the flipside of a decline in the US dollar.
"It's the dollar play," said a Singapore-based dealer, referring to the gold rally. "There is more room for prices to go even higher."
The greenback has been steadily declining against most other currencies since the end of the financial crisis.
With the US central bank, the Federal Reserve, pumping unprecedented amounts into the financial markets, there are fears the dollar may lose its status as the favourite reserve currency of the world's central banks, with precious metals being an obvious alternative.
On Wednesday, the Fed chairman, Ben Bernanke, is expected to affirm its commitment to quantitative easing, a programme to flood money markets with liquidity.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?