Where Is The Bottom For Silver Prices?

Oct. 9, 2011 - PRLog -- Silver prices appear to have discovered a bottom in the $30.00 level, nevertheless, we're searching at a very short time period and such microanalysis can make monkeys out of us. A couple of months ago silver prices looked to have bottomed in the $34.00 level, but the ensuing rally was short lived and soon once more silver got clobbered. From a technical standpoint we can see that the RSI is now trending north and from a low level too, which provides it the room to move just a little greater from this point and we view it as a positive indication. The MACD is also doing nicely and really in the oversold zone and about to form a crossover which will be an additional positive indication of exactly where silver prices are going next. Visit http://silver-dollar-values.com for more profitable silver and gold tips.

Nevertheless, technical analysis has its limitations and any number of elements can come into play and clobber silver soon once more. As we see it, those that hold the short positions have a vested interest in seeing the prices go lower. The counter argument is the fact that exactly the same applies to the silver bulls, but those bulls who have understood the gold and silver story and also the need for ownership have already established a position and might not have the money to increase their stake, regardless of how desirous this might be. To maintain as well as increase prices from here we need new blood to enter the marketplace and implement their very own acquisition program.

This we believe will occur as more individuals recognize the mess we're in economically and politically, resulting in the fast fix, print cash, and head in the sand policies that are about as helpful as doing nothing at all. As the penny drops that they need an option to paper cash they'll make the move, alas, with very small thought and they'll no doubt pay over the leading price to get their hands on the physical silver. The point is although, that when searching for exposure to silver prices you need to acquire silver bars and coins. Visit http://silver-dollar-values.net for more profitable silver and gold tips.

Back to the fundamentals, the jobs figures out of the US last night had been better than expected when the world's largest economy added 103,000 jobs last month, based on non-farm payrolls report, which has eased recession concerns, but for how long. The outlook is nonetheless gloomy so we would anticipate the next FOMC meeting, scheduled for the 2nd November to come up with some type of QE3.

Over in Eurozone each Spain and Italy have been down graded, why it has taken so long is really a puzzle to us, as together with many other countries their paper is bordering on worthlessness. And Germany should be questioning the wisdom of committing more and more of their finances to the lame duck, bottomless pit basket instances, that have their hands firmly held out, whilst rebelling against each and every austerity measure that gets proposed.

In conclusion, we're not selling any of holdings of the physical metals. We're watching the mining sector for feasible bargain purchasing opportunities, but stay skeptical about their capability to create returns that match the threat of such investments. Volatility remains the order of the day, and also the third string to our bow is options trading, exactly where volatility could be utilized to our benefit. Visit http://www.silver-dollar-values.com for more profitable silver and gold tips.

# # #

Silver Dollar Values is the premier coin price guide website for information on old coin values and silver dollar values, as well as gold prices, silver prices, silver bullion, gold bullion, gold coins and much more.