Checking the charts I noticed that on Aug 24, my birthday, silver broke loose from its $18/oz. restraint and shot straight up from 17.80 to 19.10 in two days. From that point it rarely dropped but steadily increased in value (vis-à-vis the dollar) to its present point at 22, from which it is destined to rise even further with no end in sight. This move, besides being of historical significance, represents a gain of four dollars in five weeks. $18 spot to $22 spot from 8/24 to 9/30. That is nearly a dollar a week. And the more recent climb suggests the possibility of an increase in the rate of rise, so a dollar a week is far from impossible, especially if it jumps to $23 within hours as James Turk is predicting. A dollar a week! Anybody got a grand to loan me?
Also, APMEX sent me this bulletin:
"The U.S. Mint announced today that it is significantly raising the premium on all Silver American Eagle coins. Obviously, every dealer will have to increase their premiums on Silver American Eagle coins. This breaking news comes on the heels of silver reaching a new 30-year record high over the past week. If you already own Silver American Eagles, the value of your coins has steadily increased. The chart on the right displays the correlation between the Spot Price of Silver and the S&P Index, from January 2000 to the present. This chart clearly shows that over the last 10 years your money was better invested in Silver by a better than a 4:1 ratio."The full story is here: US Mint Announces 33% Price Increase on Silver American Eagle Premiums!
“The United States Mint has officially raised their wholesale pricing above spot on American Silver Ea-gles to all authorized dealers from $1.50 to $2.00, an increase of a whopping 33%. This news comes on the heels of a significant silver spot price rally over the last month to a new thirty year record over $22 per ounce. The impact of this news is significant and has already affected dealer pricing across the country within hours, as prices on Silver American Eagles have jumped over $0.50/oz industry wide.”
Headlines from Ed Steer’s Gold and Silver Daily: Welcome to the Mania - "James Turk sees silver at $23 and gold at $1,335 within hours! U.S. Mint increases premiums on silver eagles by 33%. Ireland nationalizes its second largest bank. Iran's gold traders go on strike... and much more.” This one is a blockbuster! Every article jam packed Read it here:
The title “Welcome to the Mania” refers to the third stage of a bull market: the first being suspicion and prediction, the second being special attention, the third being general mania (the cat’s out of the bag), and the fourth is a leveling at a new plateau. So the rush is on. A GREAT article. Read it here.
It doesn’t mean it’s too late to buy, just that you’ll be getting increasingly less for your money the longer you wait. Do NOT expect or wait for dips. That strategy is for players who are gambling with their money. The strategy for Savers is to buy whatever you can as soon as you can and KEEP it. The sooner you sink your greenbacks into the physical possession of silver the safer they will be.
And now on with the news.
No comments:
Post a Comment