Its been here for a good while. It was at 20-23 before for a while.
You think it will ever go back to around 22?
Of course not.
I find it sad when Austrians try to make definite predictions. What ever happened to uncertainty?
For me, silver is an insurance policy. If it goes down, great. Currency is more stable than expected. If it goes up, dang. My money is now worth less but at least I have some silver to mitigate the loss.
I think silver at $40 one year from now is not too outrageous. Unless Ron Paul wins 2012…
Krazy Kuju: “I find it sad when Austrians try to make definite predictions. What ever happened to uncertainty?”
But wouldn’t silver going down require interest rates to be raised?
I could be wrong, but I thought Bernanke preferred hyperinflation to the smallest amount of deflation.
“But wouldn’t silver going down require interest rates to be raised?”
or what about a big sell off of silver…that could technically lower silver…temporarily.
Or an increase in silver production, or a number of thousands of other factors. There are plenty of possibilities to lower the price of silver temporarily.
If there is no immediate, official QE3 in June - then you could easily see siver sell-off to low 20s again.
If the naive people who thinking the rising stock market portends a real recovery in the economy - you could see a sell-off to the low 20s again.
Or if the fake recovery stalls and everything sells-off again - you could see low 20s again.
Or just with normal profit taking from the 50% + gains last year - you could see low 20s again.
Basically, I think there are enough things that could happen that you will see low 20s again sometime this year or 2012. It’s a healthy pullback that will lead to new highs (nominally speaking.)
Somewhat akin to 1976 when gold fell from $200 back to $100 then surged onward up to $800 a few years later.
No, if the financial system collapsed, there would be severe price deflation.
What makes you think that?
I just thought bernanke loved inflation based upon what he’s said and his policies.