With all the emphasis and focus on gold these days, I thought it might be interesting to extrapolate a little on the possible price of silver. I'm sure most of you have already made this connection long ago. Silver peaked in January 1980 at $49.00, and gold at $850.00. If during a future phase transition gold goes to $5000.00, silver would have to go to $294.00 if history repeats itself. This would seem to make silver a heck of a bargain right now, and much more affordable than gold. The only question I would have for all you silver folks is - would silver continue to follow gold all the way up and be included in a basket of commodities of a global currency, or would it just remain an industrial metal? Thanks, thinking of buying more silver!
Silver to $294.00?
It's like asking peeps on a firearms forum what is the best weapon for home defense. Everyone has an opinion. Last data I saw, both industrial and investment demand for silver was rising year over year. In 2010, investment demand overtook industrial demand for the first time in forever (or at least as long as the chart I was seeing went back). What the future holds is uncertain, but I think the probability is very high that silver follows gold with a lag and eventually surpasses it at some point in the distant future. YMMV.