Tuesday, April 05, 2011

silver 40

It looks like that silver will break US 40 dollars soon. As blogged before I waiting to have access to my life savings so that I can put the majority in physical silver. As we are in uncharted waters a lot of the fights have been around round numbers so am thinking that silver 40 will be the next number which will be fought over.

I went to a coin shop today and they were offering 1 ounce silver coins for $80 Australian dollars. I also checked the Perth mint and the it seems the only available one ounce coins were priced at $90 all the one ounce coins at $42.50 have been sold out.

So there is a big disparity between what is being quoted and actual price you can pay for physical gold. Gold price seem to be not moving so i think what is happening is people are trying to move the silver figure back to the 16 to 1 ratio which will be around US $90 before there is any large movements in the gold price.

I could have nearly doubled my life savings over the last three months and if don't get on this silver train, I will miss the next doubling. So I really hope that there will be good resistance at silver 40 until I have access to my funds.

Paper Silver has just hit $40 but their is a disconnect with physical silver which is averaging $50 in ebay. Gold is also going up which means my $90 target will be larger but having doubts now if there is going to be a fight over $40 Silver


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