Here’s my Silver Price Forecast for Silver:
Price is going up!
How do I know? I don’t! Well, I don’t know, but I do. You know? How does anyone know anything that will happen in the future? Prognosticating takes some art and some science and some skill; all of which I do not possess. I do, however, have a gut and some sensory acuity and I can tell that the world is heading toward some unpleasant times. When the world experiences unpleasant times, the masses look for some sort of stability, and in the financial world that equates to silver and gold.
Here’s more of my forecast:
Silver is going up, AND it will experience extreme volatility at certain times; meaning that the prices will explode upward at points and will drop drastically at others.
Here’s a simple rule for you: Buy low, sell high. When you… what’s that? Oh, you’ve heard that one before? Okay, good. So then do it! Jim Sinclair said it best:
You buy when weekly prices looks like a fishing line. You sell 1/3 when weekly prices looks like a Rhino horn. Cut this out and paste it on your computer. Let us call this the “Two commandments in Precious Metals.”
– Jim Sinclair
[I’ve mentioned Mr. Sinclair before and I strongly encourage you to visit his website… often. He’s a good, honest, and very wealthy man with decades of experience in the precious metals market. His preference for gold over silver withstanding, he offers his services and guidance to the public free of charge and is a strong hand on the tiller during these times of distress. He also called the gold high in 1980 and promises to let us all know when to get out at the next high, whenever that will be.]
If you follow Mr. Sinclair’s advice, you’ll stay on the right side of any market, and you’ll have cash to purchase more silver when that fishing line hits. (If you’re not sure what “weekly prices” mean, head on over to stockcharts.com or kitco.com, locate the silver chart and set it to “weekly.”) The problem is that this is not an exact science.
If you look at the chart, it’s hard to discern any recent fishing lines. In fact, we can see several of them that, if they had been bought, would have gotten you a lower price in a matter of months. There are visible resistance lines that stopped rallies and support looks to be around 17.5, the lows of 2011. Hey, guess what, believe your charts or not. It looks like we’re pretty close to a bottom. Here’s more of the forecast silver price:
The Silver Price may go lower. If it does, though, it will then rise.
I know I’m playing around some, but honestly, you’ve got to keep some perspective about this sort of thing. I remember back in the mid-2000s, getting home from work and just miserable. My wife would know immediately that silver was down that day. (I was playing heavily with options on mining companies and silver ETFs – I don’t do that anymore.) I look back and wonder how I could let my investments control my life like that. It took a lot of effort, but eventually I got out of the games and went strictly with physical silver. Sure the price goes down, sometimes quite a bit and for seemingly long periods, and I get a bit annoyed every once in a while, but life is so much better once I set my priorities a bit more sanely. Here’s the last bit of my Silver Forecast 2013:
Those of you who purchase silver at these prices will earn enormous profits from them… if you don’t sell too soon… or too late…
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