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[sharechat] Silver prices - Buffet High

From: "Baa Baa" <>
Date: Mon, 22 Mar 2004 05:31:49 +0000

Woody, that's nice of you to point out that Digital photography will benefit 
from the rising Silver price, but as a response to my post that Silver has 
exceeded the 'Buffet high', it's a rather tired old point which has nothing 
to do with why Silver has burst up to new highs. I think you might've been a 
bit bored at the time, maybe trying to figure how many Rambutans to buy for 
your reef trip. How did it go BTW?

The reasons Silver is rising so dramatically at present is largely due to 
the rebalancing of the historical Gold:Silver ratio (a critical indicator), 
the initiation of the trend to remonitisation, pressure on short positions 
(as people re-awaken to the humungous overhang -ergo more paper by far than 
metal in the market), and finally good old speculation.

My initial post indicated my response to these new Silver metal highs, which 
included taking some profits 'in case' it falls back, while remaining vested 
sufficiently to enjoy further upside should it occur. Your TA skills would 
be of value if you were prepared to make an assessment of the XAGUSD chart, 
than an off the cuff poke at that tired fundamental snippet.

For those truely interested in Silver, this link to Ted Butlers archives 
should be enlightening.

Rgds to all,

From: "Woody" <>
Date: Sun, 21 Mar 2004 10:15:24 +1000
There is a little caution in Silver being so high. Since 80% of silver is
used by the Photographic industry and since digital photography is making
serious inroads into the professional photographic industy, these high
prices will follow on down into the Cost of Film which could push many fence
sitting professionals over to the digital side, that could see a major drop
in the price of Silver.

Sorry for getting a little fundamental here.


----- Original Message -----
From: "Baa Baa" <>
To: <>
Sent: Sunday, March 21, 2004 9:41 AM
Subject: [sharechat] Silver 'Buffet High'

>... since 1998 when Warren Buffet acquired 130 million ounces of Silver, 
>drove the price to $US7.50 (reportedly taking delivery of 90 million 
>stashed outside the USA), the price of Silver has languished from its $US50
>high in 1979. This week, Silver in USD broached the 'Buffet high', closing
>at $US7.563. One has to go further back to 1987 to find a close above this
>level. At no time since 1982 has Silver displayed week-on-week gains of 
>Whatever gyrations remain ahead, those that were buying Silver metal for
>delivery in the 4.0 to 5.0 range, are presented with a classic 'sell
>strength' opportunity having profited rather nicely. Presently with one TA
>sign of doubt, being the weekly spike on declining volume, I for one am
>liquidating 33% of physical holdings, mainly high content coin, in
>anticipation that the remaining 66% is sufficient to ride higher should my
>sell be premature, or conversely, should weakness follow, my 33% will be
>vested into weakness in anticipation of further highs to come.
>It's exciting to have holdings in something that appears intent on going
>Silver in $Kiwi ...
>and in $USD ...
>and spot $USD ...

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