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The Price Of Silver Has Hit A 22-year High

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The price of silver has hit a 22-year high, surpassing $11 (£6.3) an ounce amid expectations that the metal will perform better than stocks and bonds.

The precious metal has risen 15% in the past month as the US is expected to permit a new fund linked to the price of silver.

Silver futures for May delivery were up 8.5 cents, or 0.8%, to $11.20 on New York's Mercantile Exchange.

Silver has risen 58% over the past year and gold hit a 25-year high last month.

US regulators are expected to approve the listing of the iShares Silver Trust, a fund linked to the price of silver, which is backed by Barclay's Capital.

The US is not the only place where silver is gaining interest.

The Middle East launched its first silver futures contract on the Dubai Metals and Commodities Exchange earlier this week.

just like to add i got 28kg of it bought couple years ago now at about half that price:)

sold my gold 2 weeks ago though

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Good innit! I got 18kg of Silver - wish I had bought more!

Didn't sell my Gold, and that's way up too! Wicked.

Now, lets stop boasting...

Edited by Jason

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I wonder if we'll see $600 on gold tomorrow ?

I've got a sneaking suspicion that gold is going to have a run to about $620 before a pull back to test $600.... no firm reasons... just a hunch.

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now that we've entered double-digit territory in silver, one dollar moves in a week will be become commonplace.

as silver rallies it's projected price in 5 year's time is actually falling.

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Sell stocks and Bonds - with silver and gold rocketing like money were still free well it still is over in Japan I think we will see have to see PLENTY more rate hikes.

Greenspan used to base the fed rate on Gold e.g when gold goes up rates go up when gold goes down rates do to. Ben is going to have to go all the way to double digits if this keeps up.

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Is silver and gold rising as a result of economic fears or simply more Chinese and Indians getting wealthy and buying bracelets, necklaces, etc? Dicuss

Silver and gold are both in a bull market after the bear market of the 80's and 90's. There will always be all sorts of reasons to "explain" why prices go up or down but one way or another the bull/bear wins out until the cycle completes, usually with a rush of public interest and "buy now before you miss out" at the top of a bull or "don't mention it, it'll never go up and everyone loses money investing in that" at the bottom of a bear.

IMO real estate has seen a bull market top and at some point will see a bear market bottom. There will be all sorts of "noise" along the way but ultimately the trend wins out in the end. Likewise oil saw a botttom in 1998 and is nowhere near a top yet IMO. Sure, prices will go up and down quite wildly from day to day but ultimately the bull/bear cycle completes.

There has been NOTHING lately that is in any way inconsistent with a bear market in real estate or a bull in gold, silver and oil. Prices go up and down during both bulls and bears but it's the underlying trend that matters. Time to sell your gold when the local newsagents is full of magazines about the latest hot mining stock, hairdressers are talking about ore grades and so on. It will happen even though it seems unbelievable at this stage.

Time to buy real estate when the mere mention of the idea causes friends and colleagues to react as though you had said you were going to start using heroin. They will be genuinely concerned about your welfare if you make the stupid mistake of buying real estate. That's the time to buy.

Don't fight the trend.

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<snip>

There has been NOTHING lately that is in any way inconsistent with a bear market in real estate or a bull in gold, silver and oil. Prices go up and down during both bulls and bears but it's the underlying trend that matters. Time to sell your gold when the local newsagents is full of magazines about the latest hot mining stock, hairdressers are talking about ore grades and so on. It will happen even though it seems unbelievable at this stage.

Time to buy real estate when the mere mention of the idea causes friends and colleagues to react as though you had said you were going to start using heroin. They will be genuinely concerned about your welfare if you make the stupid mistake of buying real estate. That's the time to buy.

Don't fight the trend.

That's exactly the strategy I'm going to use. The public at large are starting to become interested in PM's - I've two anecdotals:

1) A mate of mine (who thinks I'm a doomsday nutter) phoned me, saying a work colleague wanted to get into gold - what did I recommend

2) My wife was around at a friends house and her husband was watching Bloomberg. Mymissus commented that silver and gold had gone up today, and he seemed surprised she'd know that. He'd just bought a load of gold from eBay - his words, although we didn't find out how much a "load" was.

Using the hairdresser "indicator", I'd say we're in the first stages of the public getting involved - scientific or what :-) Perhaps we need a PM hairdresser barometer to guage when we should get out....

Regards,

crude

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Spiked up to $11.89 as I write. Relatively speaking, HPI is very negative at the moment. Hallelujah!

Hope the silver stocks are a bit more responsive today.

Pent

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Spiked up to $11.89 as I write. Relatively speaking, HPI is very negative at the moment. Hallelujah!

Hope the silver stocks are a bit more responsive today.

Pent

On Thursday a wire service had quoted a top Amex official as saying the exchange may begin offering the shares as soon as next week, pending approval by regulators. Barclays have moved to deny the story:

Barclays denies report of imminent Amex silver ETF launch

NEW YORK, March 30 (Reuters) - Barclays Global Investors on Thursday called "incorrect" a newswire report that the American Stock Exchange may begin listing shares of a proposed silver-backed investment vehicle as soon as next week.

A Barclays spokeswoman said it has no indication if or when the U.S. Securities and Exchange Commission will give final approval to BGI's iShares Silver Trust, which would be the first silver exchange-traded fund...

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I bought £5k of silver form Goldmoney about 2 months ago. Wish I'd bought more now. I will definately pile into the Silver ETF when it kicks off. Looking imminent now.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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