Just how high will these metals rise?

I just opened up a site to check the spot price on the PM's, and all of them just rose over 5% on the opening of the market. I learn from the experts who post here, and I'm wondering what you guys think now. The last time I asked, Silver was at $32, and now it's almost $50, so now will it hit $100?, or will the crash (adjustment and profit taking) be right around the corner? Sure is tempting to grab some quick cash, but how does a rookie like me ever make a rational situation. Thanks all.

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Permalink Reply by Gary on April 25, 2011 at 3:38am

It will keep going up up up...there will be some downs along the way! But i think silver will reach the $90 mark at least!!

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Permalink Reply by True Money on April 25, 2011 at 11:38am

I have heard the $90 mark as well. BUT, when you account for inflation, it should be well over $200 per ounce!

-True Money!

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Permalink Reply by Buffalo on April 25, 2011 at 4:49pm

In the last week or so I have seen predictions for $600 silver within the next ten years. Seems hard to believe, but the same annual percentage increases we have seen since the beginning of 2009 would put us there in about 6 years. Extrapolating the chart for gold price versus total US debt (which has had a very good correlation for many years) with projected debt increases for the next ten years puts gold in the $5,000-6,000 an ounce range in ten years and $1800+ within the next year.

All of these numbers might seem far-fetched right now, but a few years ago $1500 gold and silver near $50 would have as well. In my opinion, a big part of the bottom line to all of this is will the US and others find a way to live within their means or will we (and they) continue the addicition to spending, borrowing, and printing money. I think the simple truth right now is despite all of the rhetoric, in general we will see more of the same with basically insignificant changes for largely political reasons. If that turns out to be the case, how high the prices will rise is really not the question at all. It is really just a question of how quickly they will get to one new high after another and when our current economic and monetary systems will collapse. Sorry if that sounds negative for basically everything but precious metals, but I think it's past time for those in charge of our collective future to get their act together and face reality. Excuses and blame aren't solving the problems whether they get someone reelected or not.

I do think we are due for a short-term price pullback soon. I wouldn't be surprised to see something happen with Greece or other EU debt concerns soon and/or profit taking which could drop the value of the Euro, maybe push the dollar higher, and hit gold and silver in dollars as a result. I'm also curious what Bernanke will have to say Wednesday in his "Press Conference" and how the markets will react. We could see some significant price moves but it's hard to think anything will have long term effects until we see some fundamental changes that we are not seeing at this point.