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RE: A Game for the Steemit Silverbugs - Guess the Silver price on Market closing next Friday
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.