09-23-2011, 09:40 PM
Yeah, I was hoping to see it hit 45, which would have made a nice sale for me (it hit 47 earlier this year, then dove to around 34, where I got in, but only got back to about 43 before this mega-crash). Looks like I'm holding my SLV long term now!
I think it'll come back, but who knows. Silver is still way up for the year. 2 years ago silver was around $15. Only within the last year or so did it really skyrocket. I guess the question is whether this was a correction and the new rise starts here, or whether this was the first half of a longer dive, back to 2009 prices.
(I can't really believe in that second choice though, because I still feel like there's way too much instability in the world economy for people to bail on precious metals. Europe and the US still appear to have very ugly budget problems.)
I think it'll come back, but who knows. Silver is still way up for the year. 2 years ago silver was around $15. Only within the last year or so did it really skyrocket. I guess the question is whether this was a correction and the new rise starts here, or whether this was the first half of a longer dive, back to 2009 prices.
(I can't really believe in that second choice though, because I still feel like there's way too much instability in the world economy for people to bail on precious metals. Europe and the US still appear to have very ugly budget problems.)