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Monday, March 7, 2011

Silver Bet

Yesterday, the information I got from a wholesaler's feed is that raw Silver was at 37.90. Today it is at 38.06. I spent two days agonizing over whether I should buy a dealer’s last 4 ounces of 26 ga round silver wire at $37.99. Wow. Glad I did. At this rate, it’ll be over $50 a troy ounce by early June. Actually, I bet it hits $50 before then.

I'm curious, though. Every site I've checked - Kitco, Monex, CNN Commodities, Silver Market News Online and a few others - all have silver at around $36.80 this morning, up from yesterday. So I emailed my wholesaler to find out where they are getting their price and if it is actually a silver-to-gold ratio, which is actually around $39 - and would help to make sense of the price they have on their site.

Still, silver is going up, up, up.

Something I found out this morning - you can buy silver wire directly from Kitco with no minimum order. I'm going to get a quote from them - who knows - maybe they're way cheaper than anyone else, since they deal in such huge bulk.

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