Well it happened we are moved and staying in an RV while awaiting our new home. We are temporarily housed on a friend's property in an RV. AS always this brings about new experiences. One was the price of silver became very real as we learned about colloidal silver and how to make the medicinal silver water. This is a little controversial but our friends last bought silver at about $8.00 an ounce. Last week we thought it was about 42.00 an ounce but today April 20, 2011 it is $46.059 per ounce. Having risen 48.8%, silver is at the highest value since 1980.
Gold is up to $1,503.80 per ounce, just last week it was creeping toward the $1500 mark. This is the first time in history gold has risen this high. Meanwhile the dollar has dropped below .74 cents and is rumored to be dying. It is at the lowest value since December 2009.
When we heard the staggering figures, I asked if we should not even consider gold anymore and our friends said, buy silver and gold - both will be going sky high as inflation rears its ugly head. Rumors are that Gold will reach anywhere from 1650 to 2,000 to 10,000 per ounce predicted last year - most of my friends are guessing anywhere from 2500 to 5,000 an ounce if inflation continues.
I believe prices of gold could go fairly high, as gas prices are climbing geared to 5 bucks per gallon by summer. Many countries are now trying to counteract inflation: Brazil, Russia, China. an assure you that that's something I am watching very carefully," Minneapolis Fed President Narayana Kocherlakota is still saying that prices are not inflating. While Fed's seem to admit to some inflation and deeming it tranistory (thank you Ben Bernanke) and other federal officials indicating that core inflation low - only at 1.1%. This article by CNN seems to pull it together.
American's know prices are rising and rising faster than what government is admitting. Buying gold and silver physically might be a great idea. Buying the gold and silver as investment through Gold exchange-traded products - well my friends are not convinced that anything other than physical ownership is a good idea. Time will tell.