Silver can’t remain a commodity trading at lower than 1980 prices

How long silver remained as the only commodity priced lower than the prices it achieved during the 1980′s, is a big question.

Silver went as high as $50.50 on the COMEX exchange but goes on to state that the record was actually set three days earlier on the CBOT exchanges where it topped out at $52.50.

Considering the fact that gold was around $850 at that time and more than doubled since while silver has spent most of last year playing catch up to its old all-time peak.

Anlaysts said silver’s parabolic move toward $50 is likely to exhaust itself as selling begins to show up near or at the all time high..

The price of silver over this timeframe has fluctuated wildly from a high of $49.79 in April to a low of $26.05 while gold topped out at $1,923 in September and has been as low as $1,308.

Many analysts believe that $50 silver cannot be far away as prices have already come within a few cents of that old 1980-high in 2011.

They said it cannot remain the only commodity to trade at a lower price than it did 31 years ago.

They argued that though staying long in silver may require a strong stomach for volatility but it certain pays in total returns. – BullionStreet

Tags: price of silver, Silver, silver analysis, silver futures, silver futures prices, silver news, silver price, silver price 2012, silver price forecast, silver prices, silver spot, spot silver

Posted by Silver Guru on Dec 4 2011. Filed under Silver Analysis. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry