$49 matches silver's all-time high. I'm guessing this will be its mid-term (1 year) peak.
Silver HAS pulled back now to $48.29. I bet there will be a lot of selling today, but don't hold me to that. Earlier manias have driven prices far more out-of-whack than this one has done so far done with silver.
There's no doubt that relative to gold, silver is badly overpriced. It has to return to earth sooner or later. I'd think within a month.
I use the term "relative to gold," btw, because trying to make sense of how something is priced relative to the dollar is pointless. Until there is some sort of a seller's revolt, the dollar is "worth" whatever our rulers claim it is worth. It is not freely priced by the market. In truth, it is worth nothing. Time will bear this out.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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