Silver 2012: A Year In Review

If silver’s performance in 2012 could be summarized in one period, then 12/18-12/20 is it. After months of coordinated attacks on silver, sometimes brutal beatings throughout entire trading days, the poor man’s gold nose-dived 7.5% in the 3 days preceding 12/20/12, its biggest drop in more than a year. It wasn’t the only poor day silver had on the year. Late in the year, silver joined numerous assets from copper to the FX in a liquidation in the paper markets. As has been the case for over a decade, nothing has fundamentally changed in asset markets, given currency devaluation and increased central bank gold purchases. Silver stacks up against all other global financial assets, through 2012, finishing in the top ten for the year.

4 comments on “Silver 2012: A Year In Review
  1. Bruce says:

    All silver gurus have been wrong.
    A blast from the recent past (Oct 2012):
    David Morgan: “I don’t see Silver going below $30” |

    At this point, a clueless silver buyer like me would have better odds of getting things right. I think silver will dip below $30 several times in the next 2 years, just like it has in the previous 2 years.

    We’ll see who’s right.

  2. Spaniard says:

    “As has been the case for over a decade, nothing has fundamentally changed in asset markets”. Yes it has- whatever the markets do, we have one year less quantity of nonrenewable resources than one year ago and costs have risen steadily since 2000. Fundamentals may have not changed, but they certainly have become ever clearer and more prominent.

    30$/oz is a bargain price. Energy will gradually make everything more expensive, so any real asset you get to save now will maintain your purchase power all the way upwards.

  3. chiller says:

    US guberment actions of late smack of desperation…1 vote silver $50+ this year.

  4. Steady Eddie says:

    What is the value of gold and silver if the human race is going extinct?

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