21 May 2013

 Medium term slightly increased today.

Short term did as well.

Silver's decline in context.  A long time ago when silver was around 47 dollars an ounce, I made fun of people panic buying despite being a silver bug for a long time.  The 21 dollar price (20 on here) served as resistance for a long time (2008 and much of 2009 and 2010).  When finally surpassed, it was off to the races.  We are finally getting back there.  It should serve as support, but anything can happen.

Despite many calls proclaiming the silver and gold runs are done, I think they will peak around 2016 - 2018. Why do I think this?  I don't know, just making it up really, but I am biased because I still hold physical of both bought at levels much lower than this.