Silvers future?

[jbrace]

I'm in a dillemma. I have about $2000 saved up to invest in silver and I saw the silver correction as good time to buy. I set a price that I would buy if silver hit $32. Well it never got that low. Where do you guys see silver going from here?

 

[cubical]

No one knows in the short term, but in the long term(5 years) most on here will tell you it will be much much higher(100+).

 

[Dr.3D]

Exactly. It isn't like silver is becoming more abundant. There is a documented shortage of silver and production isn't going to catch up any time soon. Sure it would have been nice to be able to buy it at $9/ounce but that time has passed, and I doubt we will ever see the price of silver go that low again.

If you are going to hold silver, the best time to buy it is when it is lower than when you plan on selling it. From all indicators, it is lower now than it will be five years from now. It may in fact go lower, but we can't know that for certain, If I were going to buy more, I would be thinking about getting it right now, before the price goes up for another two weeks. Yes, it might not go up for a couple of weeks, or even a month or two, but it is going to go up.

Best you make up your own mind about your money and not let any of us make the ultimate decision you should be making on your own.

 

[LukeP]

It's crazy to try and trade futures with only $2,000.

 

[Dr.3D]

It's crazy to try and trade futures with only $2,000.

That's the thing, you don't trade, you buy and hold. To heck with futures, physical is the only route.

 

[jbrace]

I'm not wanting to trade. I just want to start saving physical silver.

 

[swissaustrian]

Honestly, i would´nt put all my money into silver. I don´t know your financial situation, but at least i would say you should diversify and buy gold too.
Remember: Silver is also driven by industrial demand. The world economy does´nt look pretty good. If we have a stock market crash like 2008 - silver is gonna suffer badly. Gold will not.

 

[JasonC]

Screw silver. Buy an ice cream truck.

 

[-C-]

My advice to you, would be to NOT trade silver futures, on the margin, with only 2,000 USD. You will fail, and fail miserably, and I'm almost willing to bet you 2,000 that this will be the case.

You should buy physical if you're going to invest that small amount of cash. Then sell after its above 50. Which it will probably climb, easily, back up to by the end of the year.

Also, try and find others to pull with and buy silver together, to save on the premium per coin.

Seriously stay away from trading silver futures with that little of margin to work with. You will get owned. Not to mention, if you have physical..it is YOURS and YOU hold it, it isn't in some vault with god only knows how much leverage against it, or if its even f'in there. You aren't subject to the comex rules on taking physical delivery either.

 

[-C-]

Honestly, i would´nt put all my money into silver. I don´t know your financial situation, but at least i would say you should diversify and buy gold too.
Remember: Silver is also driven by industrial demand. The world economy does´nt look pretty good. If we have a stock market crash like 2008 - silver is gonna suffer badly. Gold will not.

Tell that to the 14th century Gold Florin after imperial Venice wrecked the economy. You couldn't buy a cart to haul a cartload of gold with the cartload of gold. Yet, Venice sat pretty on all the Silver, which was then KING DINGLING CURRENCY. So suddenly think of a scenario when even the central banks holding gold are screwed, and a bunch of private financial houses hold all the physical silver, like warren buffet, et al. All the people on this forum who have bought gold would be royally fucked out of everything they've "worshiped" gold for, and suddenly those who pledged their souls to silver are happy.

People's conception of "markets and economy" only goes back about 50-100 years in history. Which is fail.

 

[ctiger2]

My advice to you, would be to NOT trade silver futures, on the margin, with only 2,000 USD. You will fail, and fail miserably, and I'm almost willing to bet you 2,000 that this will be the case.

FYI, the OP isn't trying to trade Silver Futures. OP was asking about the future of the Silver price.

 

[YumYum]

One thing I have noticed is that gold and silver follow oil. Oil fell last week; so did PMs. Now oil went back up; so did PMs. They are predicting that gas will drop by fifty cents a gallon this summer, and if this is the case, silver may follow.

http://www.post1.net/lowem/page/livequotes

 

[ILUVRP]

if i had 2000 to buy silver i would get on ebay and buy silver dimes 1964 and older , 90% silver , hardly nothing above spot price , i would buy in 4 steps , $500 worth each time , then i would be avg in.

 

[Michael P]

Yeah if you are holding long term just buy. It's like the The Ronco Showtime Rotisserie, just set it and forget it!