Does anyone here currently believe the hype about silver?

Question

I have done some brief research online regarding investing in silver. All the arrows point to the price per ounce going through the roof. What do you think has it peaked at 13.50 an ounce or will it rise to the projected 50 an ounce by the end of the year?

Answer 1

Some southern fellows, called the Bass Brothers, have tried to corner this market a couple of times. The precious metal roller coaster keeps collecting riders but only the brokers make any money.
The ONLY way a precious metal goes up sharply for any period of time is if a new use is found. If a silver gas additive gets 100 mpg, or NASA needs silver tipped rockets for the next shuttle I would be interested.

Answer 2

Precious metals are for looking pretty and some for doing clever technical things, they are not an "investment"..

The "all-time high" for silver was in 1477 (!), the year Mary of Burgundy married Maximilian I, Holy Roman Emperor. It was about $700 an ounce. What's it trading at now?

Answer 3

I don't know if it will rise that quickly, but it will remain a good place to put your money as long as the US government is having huge deficits, printing way to much money and not publishing the M3 report.

The US dollar is headed down and so commodities priced in US dollars are going to go up by default. Doesn't mean you're literally making any money, your just preserving wealth through this inflationary time.

Answer 4

No one has a crystal ball. Just use common sense if investing in precious metals and realize their is a risk of loss.

Answer 5

if the hype was really true then those people advertising it would be buying up silver instead of spending their money advertising it.. it's not likely to go down though, so if you buy it you won't be throwing money away..