Guess Silvers Price Game - Win a Free Silver Eagle

[runningfree]

48.21

[greenego]

$40.05

[mcurrier]

$47.23

[Mechanic_X]

I need to start a rumor that will drive the price back over $50. LOL

[greenego]

Looks like silver is down to around $37.00 per oz. Unless we get a rally looks like we all have overbid.

[Guest Lester Weevils]

Thought I was being unrealistically conservative short-term betting "no change", average of 10 days past prices = $44. It will have to rally to get back to "no short term change".

Real-world demonstration of volatility I guess.

[Guest mikedwood]

Looks like silver is down to around $37.00 per oz. Unless we get a rally looks like we all have overbid.

Who would have thunk it?

All commodities are dropping right now. Almost free fall. Such an up and down game. I sure don't have the money, stomach or luck for it.

[JeffsSig]

It will rebound but not maybe by the time this game is over.

You can still look for silver to break 50$ after the summer.

Watch OIL. This helps show what it will do.

[Guest Letereat!]

All I got to say is thank goodness for the "stop loss". Dumped all i had before I started going backwards. Im hoping it will plummit to $20.00 then I can buy back in and make a wad.

Current price: 24-hour Spot Chart - Silver

[Guest ArmyVeteran37214]

[greenego]

They could be right. They could be wrong. if this company is selling silver, they have a lot to lose. Does anyone know what the Hunt brothers are up to these days?

Silver manipulation

Main article: Silver Thursday

Beginning in the early 1970s, Hunt and his brother William Herbert Hunt began accumulating large amounts of silver. By 1979, they had nearly cornered the global market.[6] In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million ounces (6.25 million pounds).[7]

During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later. The largest single day drop in the price of silver occurred on Silver Thursday.[1]

Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.[1]

In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US$10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market stemming from his attempt to corner the market in silver.[1] This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period.[1]

[Guest ArmyVeteran37214]

All I got to say about the price of silver is that it has its ups and downs. However, I believe it will continue to go up. So for me that for the moment I'm gonna keep stacking them bars and rounds while the price has dropped some. Don't buy into the SLV or similar, buy only physical.

[greenego]

Will be interesting to see what happens. if the dollar strengthens, gold, oil and silver all should drop. I read that Warren Buffett doesn't invest in metals. When asked why, he said it didn't earn anything.

[JeffsSig]

Everyone did overbid.

So the far thing to do is make the winner the closest one and that is Greenego with his guess of $40.05.

Congratulations !!!!

Just PM me with you address and I will send out your Silver Eagle.

[sigmtnman]

Thanks for doing this JeffsSig.

[greenego]

PM sent Thanks JeffsSig. Interesting Game

[Guest Lester Weevils]

Yes thanks JeffSig for a fun game. The timing was fortuitous. If you had run the game a couple of weeks earlier or later it would not have been as educational, because the results would have been more in-line with general expectations.

On the other hand-- There is a superstition among amateur astronomers that if an astronomer buys a new telescope or other new equipment, that the purchase is a curse which guarantees weeks of cloudy nights so that the new toy cannot be used.

Along the same lines, perhaps your game was the curse which caused the price of silver to plummet!