If Silver gets to $8.30 BUY!!

[peabody71]

I've been studying the silver market for quite a few years now.
Not only has silver completely broken out of it's $5 +/- 'channel' in the last year or so but it is setting up for a real run.
Check out this website:
http://www.kitco.com/charts/livesilver.html
Basicall, it peaked at $8.29 an ounce back in April, went down a little and is headed right back. If silver breaks past $8.29 it is time to buy! At that point it will trend up.
Silver has been, seemingly artificially, low for a long long time.
Commodities folks have been talking about silver, silver, silver for just as long. The reason is that not only is it an investment metal that normally should follow gold prices, but it is an escential industrial metal. Bush's reelection(we'll see about that) with increased deficits, and the Dollar value vs. the Euro all point to a downward economy. That means buy metal. But Silver, in my opinion is going to take a life of it's own. This could be the investment of a lifetime.
Anyone else have a take on this?

[DS1]

1. So, you say that silver is bouncing back down after hitting

8.30 but this time we should all buy.

Riiiiiiight.

[peabody71]

3. I like to study the charts.

One of the 'rules' is that during a peak or a low it will usually come back a little, but if it moves back again and breaks that last mark it will generally keep going.
Does that make sense?

[peabody71]

4. check the ten year chart on the link.

See what I'm talking about?

[DS1]

9. I see it, I see no reason why it would peak in 97 and plummet back down

it's a confidence game just like any other.

I'll pass.

[peabody71]

12. Right in 97' it didn't go back up!

That is the difference. Check out other charts and look for the pattern I'm talking about. This is all stuff that professionals look at.

[azoth]

2. My husband has been following the same trend

and has come to the same conclusion. He's been stashing silver for months since it's been so low and he's convinced that the shrubbie admin's economic disaster waiting to happen is going to spur the next hard metals boon. And given what we know about petroleum and its products - who knows?

I think it peaked at $60-ish an oz back in the 80's when those guys were trying to buy up all the world's silver. Wouldn't that be amazing to see again? Yikes.

[girl gone mad]

5. Silver is a lot more speculative than gold..

How rare is silver (compared to gold)?

What unique applications does it have?

[peabody71]

8. It's in light bulbs and computers.

For starters. And the relatively cheap price compared to gold indicates it isn't as rare. But escential.

[tjdee]

6. How do you 'buy silver'?

I also wonder this about gold. You can't just go to SIL and buy shares, LOL. Do you buy shares of silver mining companies, or what?

/superuninformed consumer

Also, how much higher do you think it will go? The charts look promising....it does seem illogically low considering that gold is at what, 4 hundred something...but again, (superuninformed investor)...

[candy]

7. Or melt,the way they did a few years back. n/t

[Bleacher Creature]

10. To echo tjdee

How do you buy silver and gold. Isn't there some sort of limit -- particularly on buying gold that has to do with terrorism?

[peabody71]

13. Buy it on Ebay.

The prices are usually right on.
If you buy it in small lots then who knows the difference?
also check out:
http://www.golddealer.com

[BeHereNow]

11. I bought @ $6.34 so...

I am not complaining...
I feel fairly safe holding for a while.
bhn

[peabody71]

14. kick

[bhikkhu]

15. Silver phased out of photo developing

That used to be a big consumer of the metal, now nothing. That is a partial explanation for its artificial low. Its probably a good investment anyway.

When I had money years ago I bought a couple hundred ounces and sold them during the Bunky Hunt episode - made a killing.

[moondust]

16. Why the precipitous drop of about $3 in March-May 2004?