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Silver prices on a roll to $19.50-20 an ounce?
Posted on 01 June 2009 with no comments from readers
The superb technical position of silver is amply illustrated by this chart from Chris Vermeulen’s www.GoldAndOilGuy.com website. He thinks it is getting a bit late to buy into this rally but that could be too cautious given what is happening in bond markets at the moment. There is something new moving precious metal prices: a collapsing dollar.
no Comments posted by readers:
I sure hope silver goes to that price.
The one thing that is disappointing me as a UK Investor in PMs is the fact that the Pound is rallying quite a bit (yeah I know its the USD dropping in value) but when you look at the price of gold in Pounds its been pretty flat the last couple weeks and about 10% down since Feb. Silvers a bit different and steadily climbing currently.
Wonder if this will change? Who will win the race to the bottom…USD or GBP?
I think it’s fair to say that all the fiat currencies are racing to the bottom.
It has been disapointing to see gold go down in GBP but the higher the pound goes the more likely it is to go back down again, I hope.
I would get out of GBP soon…