Wednesday, November 10, 2010

heaven help us!

are you aware that the cost of silver is up to $28.57 (per troy ounce) today??? this is outrageous! when i very first started silversmithing, about 3 1/2 years ago, it was around $11. here's what i just found out when i did some brief research:

The extraordinarily bullish fundamentals of the Silver Market suggest, at current prices, that investing in silver could offer investors one of the single best long-term investments today. It is no secret that both gold and silver are recognized as a store of value. What is not so well known is that while gold has demonstrated a solid trend of price appreciation since 2001, more than doubling in price, the price of silver has recently outperformed that of gold.

In fact, between July 1, 2003 and November 30, 2006, the price of gold increased approximately 84%, while the price of silver increased more than 200%. In addition, there is a compelling argument for silver investing because the economic and monetary fundamentals in place today are even more bullish than the conditions of the 1970s when the silver price exceeded $50 per ounce. Yet today's market prices, at well below the $50 level, are a mere fraction of levels projected by silver industry experts for the future.

i am very afraid.


susie said...

I put off buying a few weeks ago, and it's gone up again since then. Guess I need to just bite the bullet and order as much as I can afford now and try to make it last. Looks like I picked a bad time to get into metalsmithing (too late now, I'm hooked;) Here's hoping for a stronger economy and better days ahead.

p.s. Blew my socks of with the new piece, REALLY liked the concept of the dangling hook, very special.

jessi sawyer said...

I have been (stupidly) holding off on placing my order. I kept hoping it would go down (even when it was "high" a year or 2 ago I've never seen it much over $18!!) and instead it's steadily gone up.

I need to order now before it's $30. Then I don't know WHAT I'm going to do. Very scared :/

Shannon said...

Hmmmm....maybe I should sell my sterling silver silverware set...tempting.

Janell Armstrong said...

I started metalsmithing in a $7 market (about 6 years ago). I cannot believe how incredibly expensive this is getting to be. Up, up, up go my prices...and down, down, down will go my sales : (