[POLL] How high will silver go?

[OgNasty]

It feels a little bit like the precious metals rally has topped out. It was seeing new highs daily, but now is a decent bit below its high. It has started inching back up though, so we will see if this is a dead cat bounce or if we were just seeing profit taking before the next wave up. Either way, I think we are closer to the top than the bottom.

[Ambatman]

It feels a little bit like the precious metals rally has topped out. It was seeing new highs daily, but now is a decent bit below its high. It has started inching back up though, so we will see if this is a dead cat bounce or if we were just seeing profit taking before the next wave up. Either way, I think we are closer to the top than the bottom.

I think soon money would start flowing towards Bitcoin.
And on silver reaching the top now? I think momentum has and would slow down for now
But if the world still seem like it's walking on thin knives then investors could rush back.
Tariff in November may likely be playing a role in these price movements.

[Coyster]

It feels a little bit like the precious metals rally has topped out. It was seeing new highs daily, but now is a decent bit below its high. It has started inching back up though, so we will see if this is a dead cat bounce or if we were just seeing profit taking before the next wave up. Either way, I think we are closer to the top than the bottom.

An ounce is trading at $52 right now. I think people started taking profits when the price touched $54, which is understandable and that is why the price fell a little. I believe it will still rise further after this phase, things have not changed much around the world, though it has cooled down a wee bit. $65 an ounce still looks like a real possibility before this rally is over and a correction happens.

[OgNasty]

Gold seems to be breaking out to new highs so maybe this metals rally still has some legs. I’m sure silver isn’t too far behind. It’s been going straight up all day from the charts I’m looking at.

I’m still in sell mode when it comes to metals. I don’t get excited when the price goes up, I get paid. I’ll buy again when there’s blood in the streets.

[FinneysTrueVision]

Silver just recently reached a new all time high for the first time in more than a decade. Back in the late 70s silver went up parabolically because the Hunt brothers, who were like the Michael Saylor of their day, tried to buy up as much as they could to drive up its price. Today, it is because nations are diversifying away from the US dollar. Those geopolitical tensions aren’t going away anytime soon, so I expect assets like gold and silver to keep going up. There is also some FOMO from retail investors adding fuel to the fire.

[tsaroz]

People might look at the Silver prices rising everyday and would want to jump in but when there's a large spike in price, we should be careful. It would be better to wait and let market settle be it in a higher point than this than to rush in a lose money. It would have been better if we had invested in Silver a year ago, but we missed it, we should now look for another opportunity which is not at the moment.
Silver price is steered by the demand for non fiat reserve but what we must consider is Silver is much more abundant than gold and not as used as gold for national reserve nor is it as famous as gold for ornaments. Still it could be a good investment if you plan it long term.

[XOOMBOX]

Silver just recently reached a new all time high for the first time in more than a decade. Back in the late 70s silver went up parabolically because the Hunt brothers, who were like the Michael Saylor of their day, tried to buy up as much as they could to drive up its price. Today, it is because nations are diversifying away from the US dollar. Those geopolitical tensions aren’t going away anytime soon, so I expect assets like gold and silver to keep going up. There is also some FOMO from retail investors adding fuel to the fire.

Gold and silver are precious metals and real assets in nature, they are basically found in very small quantities and their prices increase slightly every year and have never decreased. And you make a very good point that the similarity between the Hunt Brothers' attempt to take over the silver market at the time and the current trend of reducing global dollar dependence is really striking. However, what is happening now seems very natural and sustainable because the price increase back then was mainly the result of speculation and artificial influences but now the reasons are completely linked to economic realities such as inflation, geopolitical instability and the de-dollarization policies of countries. At the same time, I also agree that the FOMO of retail investors is now putting some pressure on the price but as long as central banks continue to buy gold and silver and there is uncertainty around the world, silver has a long-term potential.

[OgNasty]

I thought precious metals had topped with the profit taking but with silver back above $50 it seems like the gold and silver bugs are trying to run again. I think it is definitely too late to enter this trade and have been selling silver (at spot price) as a result. We may go higher, but I feel like we will definitely go lower…

[philipma1957]

I thought precious metals had topped with the profit taking but with silver back above $50 it seems like the gold and silver bugs are trying to run again. I think it is definitely too late to enter this trade and have been selling silver (at spot price) as a result. We may go higher, but I feel like we will definitely go lower…

logically it should top 100 but it likely will not.


I have 100 silver dollars if anyone wants to buy them all send me a pm

[STT]

Pretty sure I did vote 100 and I'm sticking with that.  Oct 17th was a good day to sell, I was considering but I just dont have that great a judgement skill to trade like that, nice for those that do.
  However that kind of pullback which by commodity terms is shallow is why I say the extreme of 100, I see this high price level as quite possible in this breakout backdrop for both gold but also quite valid for silver also.

Its well known that while bullish gold gains are exceeded by silver, so long as the wider bullish trend across all time frames remains valid I reckon much higher is quite possible.

  If anything the miners are lagging behind, their assets which cannot be sold now are under valued because of this ongoing doubt for future metal prices.  If I do have the longer term certainty for sustained higher prices I should be even more bullish on miners though the payout is much slower its a greater total and ratio gain, leveraged over the plain metal is what I've read.

[pooya87]

I thought precious metals had topped with the profit taking but with silver back above $50 it seems like the gold and silver bugs are trying to run again. I think it is definitely too late to enter this trade and have been selling silver (at spot price) as a result. We may go higher, but I feel like we will definitely go lower…

Why did you think that?

There is a reason for every rise and as long as that reason exists, the rise cannot top!
The reason for the rise over the past couple of years has been the global geopolitical tensions and the fact that we are in the middle of a World War. That and the fact that dollar is being abandoned (dedollarisation process) which means countries replace it with something solid which happens to be precious metals, namely gold.

The only 2 reasons why there was a correction in the precious metals market recently was first the fact that they have been rising constantly for a while and a correction was needed (eg. gold went to $4400 and needed to correct to $3900) and as well as the fake show US and China put on recently with their presidents meeting and talking about easing their economic war which "injected some hope" into the market causing some panic off by weak hands.
But since the reason for the rise is still there and this show was fake (the US tariffs on China are still high and China's sanctions on US are still intact) the price resumed rising back up again (eg. gold is currently $4140 and rising).

Expecting a reversal ("going lower") is wishful thinking in my opinion. Specially with this new US regime's nuclear proliferation after Trump decided to move toward testing nukes after decades. Now we may no longer see rises, we may start seeing jumps. In other words if for example $5k for gold was a possibility in a year, it may become a possibility in only a matter of months.
And the same analysis applies to other precious metals like silver as well...

[imthegreat]

With silver experiencing a bull run, how high do you think it will get?

When do you see the price hitting this point and when it corrects, how low do you think it will eventually settle?

I think we could get as high as $80, but will probably stop around $65. I do believe silver hits $200 before 2040.

I made a decent profit buying silver at 20% below the current price, but a couple of weeks ago I sold all my silver because I don't believe it will rise any further. The correlation between gold and silver has long been evident, and while gold has a tendency to rise further (as analysts are saying), I think there will be a price pullback. The fact is, AI has created a financial bubble, and we're all likely facing a crisis because of it, which will lead to a price correction in cryptocurrencies, gold, and stocks. I'm not claiming that my words are true, but that's what I think.

[Unknown Op]

With silver experiencing a bull run, how high do you think it will get?

When do you see the price hitting this point and when it corrects, how low do you think it will eventually settle?

I think we could get as high as $80, but will probably stop around $65. I do believe silver hits $200 before 2040.

I made a decent profit buying silver at 20% below the current price, but a couple of weeks ago I sold all my silver because I don't believe it will rise any further. The correlation between gold and silver has long been evident, and while gold has a tendency to rise further (as analysts are saying), I think there will be a price pullback. The fact is, AI has created a financial bubble, and we're all likely facing a crisis because of it, which will lead to a price correction in cryptocurrencies, gold, and stocks. I'm not claiming that my words are true, but that's what I think.

Silver is good investment and we will see good price increase because more buyers ars come in the market and they want to be rich and they hold the silver for long term. There was a time when less people trusted on online investment but with time they realized that online investment is best as we are saving our money And no one can see our profile and less people know the idea of online investment. They need Knowledge to learn how to do investment online . Silver is best metal and it's price will go up because we saw price of Gold which was high in last few years.We will see double price of Silver as people will try to hold that for long Time and we will see big investors in the market.

[OgNasty]

Silver is making another move up...  Looks like the overwhelming predictions of this thread are about to come true...  Maybe...

I feel like this rally has to run out of steam before too much longer, but maybe not.  It seems like Wall Street is still in denial about how bad it is on Main Street at the moment.  I think the AI bubble burst has already begun and stock indexes are going to start feeling the pain.  I remain curious what effect that will have on this silver rally.  I suspect it could lead to a strong move up and then down, but how far in each direction is anyone's guess.

[reefsea]

I've seen a lot of people talking about silver as the next reserve for the last few months because they think gold is too high and silver could be an alternative.

At the moment, the increase is very pronounced but to talk about the value in nominal terms is obviously not easy it's just that certainly in this case the longer it can be, the more valuable it will be because the value continues to rise.
But don't let us focus too much on fomo because honestly, by looking at this potential not a few people are actually fomo and consider this a belief because everything that fluctuates will remain the same where up or down depends on fluctuations.
It is not wrong to be in silver but if there are things that can be better than that why not look for something more certain first.

[pooya87]

I feel like this rally has to run out of steam before too much longer, but maybe not.

Yeah, it is natural to feel the rally is nearing the end when it has been soaring for so long but still the reason for the rally is there and getting stronger.

With the recent energy war, the tensions (another oil tanker were hit this week and a gas field blew up in a drone strike in Iraq) are going through the roof and with Trump chest-pounding for an invasion of another oil rich nation (where an oil plant blew up 2 weeks ago as a signal ), we are not going to see the face of peace anytime soon!

The precious-metal-buying-spree is getting stronger for now

[jaberwock]

Obviously it has done greatly, and that is why a lot of people are happy and excited about it. However, we have to also realize that in the markets when something goes up so much, it's also smart to make sure it may not be going down. Because when something peaks, usually that means you are not going to make money by buying it, and should be selling instead.

Silver has gone up so much that it's a risk to buy at this level, not saying you shouldn't, just saying if you do, be careful about it. If you can do that, then we are going to see this change and be different, we are going to see this be a lot better and can make it a lot better for everyone. Have something like a stop loss (not sure if that exists in silver) and you can be feeling better.

[OgNasty]

A dollar away from hitting $60. Inflation was below expectations today so I guess the market is expecting the printing press to get rolling. We seem to be at a fork in the road. Markets crashing or massive inflation ahead. The Fed has some tough decisions to make and it looks like they are going to choose inflation if Trump has his way. Positive for Bitcoin if people can hold their finances together.

[STT]

I would not even go with the idea of choosing, do you choose where a boulder goes when its moving it goes where it wants to go and you do not stand in the way.
    Federal Reserve must side with inflation by necessity not choice, they cannot allow deflation which raises the worth and cost of debt as there is simply too much of it in existance and not the real means to pay it off.

JCB or Bank of Japan as the first proponents of QE are very much in that disposition also, to expect a fall in currency is just normal and it does sharply reverse that trend at times as Japan has wealth privately but central debt and currency are only going to decline further.   Similar is true elsewhere also.

On the miners:
https://youtu.be/N11Nolow8jg?t=211

[headingnorth]

It just hit $60 today for the first time in history, a new all-time high!

As I have been saying for months silver is nowhere near the top imo and is still cheap
because the price has been artificially suppressed for decades.

Massive demand from industry especially EVs, consumer electronics, data centers, AI computer chips, etc.
and even central banks makes silver one of the most valuable and underpriced commodities on earth.

Not to mention the ever constant demand from the jewelry market.