Silver $40+ by mid april

Discussion in 'Metal Futures' started by peilthetraveler, Mar 28, 2012.

  1. Just wanted to put that out there. Silver & gold are going to run up in the next few weeks, so if you've been out of the trade for a while, might be time to get back in. Should see $40 silver by tax day (give or take a week)


    Current spot price as of this writing(3/28/12) is $32.04 for silver and $1,662 for gold.

    I know most people are not expecting any kind of move considering how stagnant silver has been, but get ready for it anyway. Before you all ask how I know this...I will just say "A little bird told me"

    Could go much higher than $40, but I don't want to overestimate.
     
  2. I think you should bring your bird to the vet...
     
  3. 27
     
  4. You've obviously been around here much longer than I have, and you may have the e-cred to lay out statements like this without justification, but can you enlighten us as to your reasoning? Even on a macro level?
     
  5. IMO, precious metals are still in sell-off mode. There's something of a disconnect between the expectations for QE between gold and silver vs. stocks. Stocks are expecting more QE and rising (now falling as I type), whereas precious metals don't expect QE, thus falling.
     
  6. Hell, let's get it going! I just inherited a bunch of dimes, quarters, silver dollars from 1917 on and would love to cash them in for more. So on that note, I heard a rumour that there is no more silver to mine, and, and people are hoarding it, and yea, yea that it should be at least $100.
    I really did inherit a butt load of coins so I would love silver to run. :D
    Mostly dimes, but a fairly large assortment of other coins too.
     
  7. Its not technical based. Its rumor based that GS, JPM and maybe someone else are going to purposely run it up very shortly. They are going to wait until the retail investors are in and then sell heavily. I believe they said their goal was to scare people into not taking physical delivery of the contracts.
     
  8. Sounds absurd, IMO. The margin on gold & silver make it prohibitive for most retail investors, IMO, and they're already manipulating the hell out of the market.

    Given the rumored short positions JPM holds I'm not sure why they'd allow a run up, which could potentially get out of control. Aside from that, investors are losing faith in the CME and its integrity.

    The only possible way this is true, IMO, is if they're not driving the price up, but allowing it to pursue its natural path. Then they'll slam it back down like they always do.

    Re: physical - WTF takes delivery anyway? (as a retail?)
     
  9. Depends on the meds......could be 40 could be 50.
     

  10. I see it happening too...I think once it breaks $40 it'll run.
     
    #10     Mar 30, 2012