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Contrariana: Silver Prices Not Ready to Rocket: Been There; Done That
The bloom is off the rose in Silver. It peaked in March 2008 at the end of a five-wave rise which began in August 1999. That peak will not be exceeded within the foreseeable future. Silver is headed for $12.50, in fits and starts – a large down-up-down pattern.
“All the king’s horses and all the king’s men…..†And all of the fundamental reasons why Silver should rise will amount to naught. They simply will not make any difference.
Perhaps one reason for that is that the fundamentals, which seem strong now, will disintegrate. It is a mistake to project present facts…
9Jul2008 | William Kurtz | Comments Off | ContinuedSilver Prices Ready to Rocket; Four Reasons Why and Two Ways to Buy
Silver prices have vaulted an extraordinary 106% in the past two and a half years.
More impressive, silver prices have gained 33% since mid December.
Now, compare that to how U.S. stocks have fared since then: The Dow Jones Industrial Average has plunged 13.6%; The Nasdaq Composite Index tumbled 10.5%; The S&P 500 Index has fallen 11.1%.
Like gold, silver is a safe haven from inflation and a weak dollar. The prices of the two metals often move parallel to one another. However, silver is poised to rocket – handing investors not only gains in our bear-market economy, but steeper…
7Jul2008 | Money Morning | Comments Off | Continued
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