It is odd - The price goes up a few cents, many will start posting - Hurraaa, here we go off to da moon, JP Morgan is screwed, silver to $200, silver to exceed the price of gold.
The price goes down - No comments.
Inflation is coming. Sooner or later, worker bees will be asking for a raise, to cover rising costs, or at least a portion of the rising costs. Those who get a raise will not feel the pain, as those on a fixed income.
Those on a fixed income will be screwed. The nice thing about silver, gold, is the investor is protected against inflation. There are times in history, when silver and gold get ahead of themselves, hunt pushing silver to $50.
Silver went to far, too fast at $32. Now we have a correction. How deep will the correction be?
Buzz wrote "I belive Chinese are both long and short.
This allows the Chinese to take delivery from the Comex. The short position is off-set by the savings on the purchase from the long position. China does not want to be stuck with all of those long US Bonds they are holding."
You are absolutely correct, sir. I would have written more explanation last night in my post, but I figured there was only one person who comes to this message board who would understand that, and that person is you. And you figured it out.
The long term ratio for gold:silver is 14:1. Today we are at 50:1. Silver has become more scarce than gold lately, meaning more gold than silver on the market. I'm no genius, but those statistics mean either gold will come back to 270 for the ratio to work out or silver will go to 130 and more because of the scarcity. As of today, trading is running the metal. But try and buy silver and not pay $6 over spot with a 2-3 week wait. The correction makes no sense, especially for the length of time it has been in correction. I'm a buyer and a holder. I will continue to accumulate because it's a buy of a lifetime, even at these prices.