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| I read the link but not the associated links. I watched the video and the second video (part II).
The second part of the video explains that more silver is produced than that which is used for industrial and other purposes. 15% of silver production is purchased by investors.
To me this means a significant portion of the price of silver is based upon perception. If people in general perceive that silver is not a good investment, the price will go down and vice versa. I guess I'm saying I don't see the magic of the $30 or even the $26 number other than it's a technical thing that may or may not predict some future price action.
What's to keep silver from going down? Finicky people. What's to possibly drive it up? Finicky people.
That being said, that video is not the whole story. A forecast of increased industrial demand and a finite supply of easily mined silver plus a government that doesn't have to use a printing press because hitting the zero key is so much easier...well, there are some reasons to be bullish silver.
I just want to understand why silver can't go below $30 or even $26 in frytownfarmers eyes. To me, I think it can and may very well do so. The end game will likely be the same, but how we get there is a mystery. Somehow though, he's been calling it pretty close. | |
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Wanting to buy silver/silver stocks?
