Monday, April 25, 2011

Silver Bull-Market: Silver Reaches 30-Year High On April, 25 2011

Today, silver reached a high of $49.85 USD! This was a short, yet exciting fluctuation as it also reached a low of $45.66. What is believe to have happened  goes a little like this; Once the price of the shiny metal shot past $49, there was a massive sell-off or profit taking with the holders of the SLV paper shares.  Now that the price has dropped, those who have sold earlier today at $49 are increasing their positions with newly bought shares at the $45 -$46.00 mark. The American Precious Metals Exchange (APMEX) is  also advertising to metal investors, that they are seeking to buy back their silver and gold! The precious metals company is offering $38.00 over spot for gold and $3.00 over spot for silver of ANY quantity.  American Precious Metals Exchange has to buy silver and gold to fulfill orders!  Hold onto your ounces physical silver and gold! I wouldn't be so quick to dump just yet.  Paper SLV and GLD holders are another story. The only plausible advantage  paper contract holders have is the advantage of dumping (selling their shares) at daily highs and increasing their holdings (purchasing more) during daily lows within a short time frame. This is what I call, "playing the stock market."

Happy investing!

2 comments:

  1. Hello,

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  2. Those precious metals can be really a good source of income. You can sell them at Fresno Pawn and they're giving you good deals.

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