Biggest Silver Surge In Over 3 Years

[Katmai]

Presented with little comment - Silver - having (like Gold) retraced all of last week's losses is seeing a record-breaking move today. This jump of 6.6% is the largest since 11/24/08 - over three years ago.

http://www.zerohedge.com/news/biggest-silver-surge-over-3-years

 

[Blueskies]

Presented with little comment - Silver - having (like Gold) retraced all of last week's losses is seeing a record-breaking move today. This jump of 6.6% is the largest since 11/24/08 - over three years ago.

http://www.zerohedge.com/news/biggest-silver-surge-over-3-years

Yes, because it has sold off so sharply it was due for a bounce back.

Do not invest in silver if you have a short time horizon. If you are going to need to turn that silver into FRNs in 6 months, 12 months or maybe even 2 years, DO NOT put it silver. Silver is extremely volatile and it could crash right before you go to trade it in.

Arguably, the fundamentals support it in the long haul. But trading silver for short run profits is gambling.

 

[Seraphim]

This.

Buy A LOT of silver if your time frame is 1+ years. Short term (under 6 months, primarily) - Physical cash mostly...paying debt if you have some.

Yes, because it has sold off so sharply it was due for a bounce back.

Do not invest in silver if you have a short time horizon. If you are going to need to turn that silver into FRNs in 6 months, 12 months or maybe even 2 years, DO NOT put it silver. Silver is extremely volatile and it could crash right before you go to trade it in.

Arguably, the fundamentals support it in the long haul. But trading silver for short run profits is gambling.

 

[Katmai]

Do not invest in silver if you have a short time horizon.

This is happen again today on a higher scale.

Silver Rises 26% In 26 Hours

It appears rumors (there's that word again) of precious metals' demise have been greatly exaggerated yet again. After hitting a low of $26/ounce just shortly after 24 hours ago, the metal has since soared by a whopping 26% to $32.90 (thank you CME and Shanghai Gold Exchange). That's $6.90 in one day. The same with gold.

It seems that the market has finally had its brain kicked in a little following the realization that an expansion in the EFSF from E440 billion to E3 trillion (which has about 0.01% probability of happening, and would likely see the mobilization of a certain army first) would mean an exponential decline in the credibility of that "other" currency, which while potentially retaining its value against the "first" currency, will have been devalued that much more against the real, undilutable currency.

We expect the market to comprehend that Goldman, for once, was spot on in its evaluation that anyone who bought yesterday at the lows, will have already made their full year unlevered return in one short day.

http://www.zerohedge.com/news/silver-soars-26-26-hours