My prediction- if nothing improves ie. wars, jobs, inflation, oil prices, I can't see how silver won't keep going up.
For one it is useful-used in industry, it is under priced by about $50 an ounce, if you go by the 16:1 normal ratio of gold to silver, more is traded thatn is mined, so your paper is not physically backed, well here's some basic reasons, the dollar losing value is of course a big one.

I say $50 by mid May. Just guessing, I'm not a trader, just being realistic.

Originally posted by Dr Love
There's really no way to explain why it's going up at such an accelerated rate. People say there's a silver shortage...I don't believe that. There's something just not right about it more than doubling in such a short period of time.

Peace

the dollar is collapsing due to fears of the government shutdown. gold is fast approaching 1500 dollars an ounce...our dollar is slowly becoming worthless in front of our eyes.

our mighty military is worthless against this financial invasion and destruction of the U.S....i can see the headlines now..."AMERICA CONQUERED WITHOUT FIRING A SHOT"

I like silver. I like it alot. That said, the massive rise over the past couple years has left me feeling more and more uncomfortable and uneasy about the state of the world. The Hunt Brothers run up of the early 80's made sense as a failed attempt to corner the Silver market. Our current explosion is an entirely different animal, and it doesn't lead to anything good I'm afraid.

Today's charts are pretty interesting, and pretty much par for the course for silver lately. Gold seems to be moving in lockstep with oil, but silver is soaring beyond that and not playing the dips that gold and oil have taken. While I am a proponant of silver both as money as well as an industrial metal, it seems that more and more "little" players are getting into silver as protection due to it being more affordable to accumulate in small quantities than gold. This rise in silver has nothing to do with industry, and everything to do with more and more "regular" people scared to death of the inflation that is coming.

Originally posted by Dr Love
Hey, I'm all for it, I can't believe silver hit $40. Un-freakin-believable!!

I've still got an itchy silver trigger finger though.

Peace

edit on 8-4-2011 by Dr Love because: (no reason given)

US 40.97 right now and ready for market close.

CAD is 39.12

I don't know if we will see a big dip now. Maybe a bit as normal but I think we are here to stay.

Originally posted by jude11

Originally posted by Dr Love
Hey, I'm all for it, I can't believe silver hit $40. Un-freakin-believable!!

I've still got an itchy silver trigger finger though.

Peace

edit on 8-4-2011 by Dr Love because: (no reason given)

US 40.97 right now and ready for market close.

CAD is 39.12

I don't know if we will see a big dip now. Maybe a bit as normal but I think we are here to stay.

Maybe a pull back to $35 or $34 before the next big run. Remember, ultra wealthy want to rob the common man of anything of worth, so a rapid $5 or $6 dollar pull-back will shake the faith in a lot of those new to PMs and cause more silver to hit the market. They want to sweep every last bit out of our hands before the real "fun" starts.

Originally posted by larphillips

Originally posted by jude11

Originally posted by Dr Love
Hey, I'm all for it, I can't believe silver hit $40. Un-freakin-believable!!

I've still got an itchy silver trigger finger though.

Peace

edit on 8-4-2011 by Dr Love because: (no reason given)

US 40.97 right now and ready for market close.

CAD is 39.12

I don't know if we will see a big dip now. Maybe a bit as normal but I think we are here to stay.

Maybe a pull back to $35 or $34 before the next big run. Remember, ultra wealthy want to rob the common man of anything of worth, so a rapid $5 or $6 dollar pull-back will shake the faith in a lot of those new to PMs and cause more silver to hit the market. They want to sweep every last bit out of our hands before the real "fun" starts.

edit on 4/8/11 by larphillips because: (no reason given)

And I'm all for it!

Got a little stash just waiting for a $5 dip.

Bring it on!

I suspect that a lot of the rise late last week was due to nervousness over the US federal budget squabble. That brought the dollar index down, so precious metals and commodities such as oil went up.

I think that with a deal struck Friday, that will relieve some of the nervousness for the next little while, and we'll see some minor improvement in the US dollar early this coming week. In turn, I expect the PMs and commodities do drop some, say 10%. My guess is silver will drop below $40 US an ounce, maybe even down to $37 or $38, and bounce around there for a while - until the next major crisis drives it up again.

If you are thinking of buying silver, I think maybe mid-week to Friday might be a good time to buy.

What do you other silver fans think will happen the next couple of weeks?

CAD 40.01!

First time.

Originally posted by jude11
CAD 40.01!

First time.

Whats that mean? I've been hoping for a dam pullback in silver so I can buy some, but it keeps going up. I wonder if we're actually seeing the accelerated crash of the dollar happening before our eyes.

Originally posted by mayabong

Originally posted by jude11
CAD 40.01!

First time.

Whats that mean? I've been hoping for a dam pullback in silver so I can buy some, but it keeps going up. I wonder if we're actually seeing the accelerated crash of the dollar happening before our eyes.

I thik so. I was waiting for a dip for the last few weeks and then decided, heck, just pay the price and stop waiting, because it might not happen, and since I think silver is ultmately going to go double or triple what it is now anyway. I still got in before $40, now if you buy, you'll most likely be saying "at least I go in before $50".

Read all the blogs, ZeroHedge etc. The picture is Very stark for the US. Can the US declare bankruptcy and just get a start over? Can we citizens bankrupt our tax bill? No, no.

I picture a worst case scenario, something like Argentina in the early 2000's. Every man for himeself. Carry a gun to the black market.....granted I think the US is too big for that behavior and even less civilized so, someone or something might just drop something big on some big US cities to take care of the worst issues. Hope this is a horribly wrong guess.
And at this point, I don't think we need a comet, planet, earthquake...to end life as we know it.

looks like the dip is happening now.

woo-hoo!

This morning silver jumped to 41.91 but now is at 40.20 US.
My guess is that it's going to bounce around for a little while yet. I don't think we're going to see a huge drop, but I don't think it'll rise too much for the next little while.
I think the next few days might be a good time to buy, but no rush.