Friday, November 5, 2010

Silver reaches the half-way mark, or is that Gold?

With Uncle Ben debasing the US fiat currency yet again Silver and Gold have hit all time highs.

With Silver currently trading at US$26.25/oz this means that Silver has finally reached the half-way mark in its steady rise back to, and beyond it all time intra-day price high of $US52 set in Jan 1980.

Yes with gold almost US$550 over its 1980 price Silver has only just reached half of its 1980 price.

Note I am taking about 1980 US$ here, you might have noticed we have had a little bit of inflation since 1980 thanks to Ben and his mentor Alan. Lets be conserative here and adjust 1980's US$52 to 2010 $ - we get approx. US$150.

So it seems I am wrong, Silver is not at the half way point, it is only at about 20% of its all time high. I really should have stated Gold is at the half-way point, with the inflation adjusted 1980's high being at least $2550.

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