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price of silver

Posted by phillip hall on May 5, 2011 at 3:59pm in Business of Art Fairs
 The price of silver has fallen over twenty five percent in just a few days with oil following behind.  Maybe we might be able to afford to buy fuel this summer and if you're a silversmith maybe you can afford materials.  All of the pros saying the cost of gas is due to demand were dead wrong. Turns out there is a severe glut. I wonder what the presidential commission will have to say about this?

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Replies

  • Andrea Robinson May 9, 2011 at 11:18pm
    There is an upside to this. Silver isn't "cheap" anymore :) I, for one, am ecstatic about the price increase.
  • Annette Piper May 8, 2011 at 7:02pm
    I've seen it drop over the last few days and though "damn, why did I buy that silver 2 weeks ago...?"  Luckily the AUD was also up so it probably evened the cost out!
  • lori kay May 8, 2011 at 3:33pm
    Hold off buying silver until after Monday, they're going to raise the margins on silver for the 5th time in two weeks on Monday which should drive the price down even farther.
    • Jeanne Steck > lori kay May 8, 2011 at 4:54pm
      thanks for the info, Lori!
    • phillip hall > lori kay May 8, 2011 at 4:42pm
      Now if the predictions of fifty cent drop in gas happen, we might have a good summer!
  • Jeanne Steck May 5, 2011 at 10:54pm
    I'm glad I didn't buy the wire that was in my "shopping cart" last week. I wonder if this trend will continue.
    • Linda A Shields > Jeanne Steck May 5, 2011 at 11:17pm

      It's really hard to get projects going when 50gm from the PMC guild was $108.50. Clients will not pay up.

       

      Let's keep our fingers crossed!

      I just bought a new kiln and hate to see it sit idle!

  • Kristin Perkins May 5, 2011 at 4:50pm
    I noticed the drop in silver also! I bought some at $42 or $43 yesterday, then again later at $39. Now it's at $36 something. It felt so good to see it drop under $40.
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