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Gold/Mining/Energy : Gold Price Monitor
GDXJ 114.87+3.6%Dec 11 4:00 PM EST
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To: PaulM who wrote (11198)5/3/1998 11:33:00 PM
From: Wizzer  Read Replies (3) of 116814
 
Silver will not appreciate very much in the long term. I believe Warren Buffet is using it as a short term (meaning 6 months-2 years) investment vehicle [create speculation of "hoarding" silver supplies]. For those of us without billions of dollars in the bank, silver can be a good shorter term gain (1-3 months). In my opinion, an investor can use silver as a short term vehicle, not long term. I would be surprised at any significant evidence to the contrary of this. Just like when "the brothers from Texas" decided they would corner the silver market, it is a futile and ultimately unsuccessful attempt to drive the price up. I believe it is near impossible to do. Holding silver as the price starts to skyrocket, is immediately met with a flooding "new" supply at all levels as the market gets bombarded with people selling their household silver possessions all over the world, especially in India and Asia. The effect of that will always undermine the price of silver and unless a new factor is added into the mix, will always be that way.

It is possible that Warren Buffet is using his accumulation of silver as a distraction for the metals markets and public, to conceal a different purchasing effort. This leads me to believe it must be a cover for some other agenda.
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