A Game for the Steemit Silverbugs - Guess the Silver price on Market closing next Friday
*This post I make on behalf of @irrer-ivan , who has created this game for the german community.
As his posts are in german, and based on prices in Euro, he asked me to create a english adaptation of the game.
The same goes for a game about the gold price, that I will also make for him: https://steemit.com/steemsilvergold/@beatminister/a-game-for-the-steemit-goldbugs-guess-the-gold-price-on-market-closing-next-friday *
Welcome to "Guess the Silver Price"!
Its all simple and straight forward, and even better: its free!
Here are the rules:
- Give this post a decent upvote.
- Make a comment, in which you state your estimate of the silver price ($US/oz) on market closing Friday.
- Make the correct, or nearest to correct, estimate to receive the SBD and Steem payout of the post.
- Dont worry about other people's entries. If more than one person is correct or equally close, the win is shared.
- Reference for the price is this website: https://www.goldseiten.de/kurse/index.php
- The result and the new game post I will make on Saturday or Sunday.
- The deadline for entering a estimate is market closing time on Wednesday.
So let us begin:
What will the silver price be on market close, Friday, 20th of April 2018 ?
I'm hoping for a good participation - the more people take part, the bigger is the pot! :)
And don't miss the post for the gold version of the game.
silver photo: pixabay free to use
Ag's been in a ranging market for a while now but is narrowing its trading range. Given the conflict in Syria, I expect more volatility in the PM market which may break it through the descending trendline.
My prediction for Friday's closing price: $17.50 (or in the vicinity of this round number)
Thank you for being the first participant in the "Guess the Silver Price" game!
So far, the concerning situation in the middle east - as well as the over all very concerning situatuation between the US, Britain ect. and the Russians - has remarkably little effect on the metals prices. Especially gold used to be a kind of insurance during times of conflicts, but this time there was only a few little ups that got quickly supressed again.
Well, lets see where the journey goes. 17,50 by next friday would be a nice increase, but still be miles away from a realistic price for such a rare and useful material like silver. Over time, we will see much more movement here, I guess.
You're probably right, perhaps by May. But it would make me (and I'm sure many other freedom seekers) feel a bit richer, if it did have a rapid move.
Thanks for hosting this thread.
I say
16.86
20
https://www.youtube.com/paulbegley34
Silver is making a big rally just as I'm reading you post, up almost 50 cents. I think it's about time that gold silver ratio takes a dive don't you think, cheers mate.
Yes, I was also wondering what is going on there. I didn't hear of any black swan or something, and also gold is not doing much (up just a little bit) at all.
Well, lets see how lasting this silver rally is, or if we see a "correction" again soon.
Btw, why dont you take part in the game and make a guess of the friday closing price - you upvoted already. :)
I will say about $17.50 by the end of the week, what's your guess?
Yeah, 17.50 - 17.40 could well be. But there are still 2 trading days. Gold is already turning south again, despite the dollar is weakening. So who know what game they play with silver now.
But all that is unofficial - if I take part in my own game and win by coincident, it would look somewhat fishy, wouldn't it. So thats why I dont make a own guess. :)
Nothing wrong with putting in a guess, just don't claim your own prize pay it to the next closest. It's getting close to $17.40 now,
check out the gold silver ratio it's dropping like a rock, cheers.
Well, as long as gold isn't moving, the G-S ratio is bound to change. But dropping like a rock? Concidering a realistic ratio would perhaps be between 10 and 15 : 1 - we are still far away from that.
It didn't take long in 2011 for it to drop down to 30:1 and the under valuation is much more extreme today. 10:1 sound pretty damn good to me, cheers.
Yes, I wouldn't mind that either. :)
Especially, since the gold price is rediculously low as well, measured in purchasing value. It should rather be in the region of 15.000 to 20,000 $US and silver 1500 - 2000 accordingly. That is the historic base value as it was for many centuries. 1 oz of (pure) silver equals a monthly pay for a average labourer or soldier, and 1 oz gold about a years pay.
Looking at all the factors today that doesn't seem so far fetched at all. And the stackers will love that, of course.