Did Rumours of Impending Apocalypses Help?
Multiple apocalypses this year because they just kept coming!… and going… Was 2011 also the apocalypse for silver and will 2012 see a phoenix uprising for silver, particularly with yet more doomsdays predicted, including the noteworthy Mayan End of the World? (Which we here think is a load baloney, but things like this have and will affect prices). Or was 2011 just too bumpy to hang on?
Since 2005, silver has enjoyed a steady rise in prices, going from about $7.00/Troy oz to over $20.00/Troy Oz. While the overall trend has been for rising prices, year-by-year usually sees some fairly wild fluctuations and 2011 was no different. However, 2011 was marked by a few huge events; fall outs from the 2008 depression in America and Europe which resulted in continuing shakiness in the European market. Europe and America are both on a knife’s edge economically speaking and that means an influx of investors in things like precious metals in the hopes of securing at least a portion of their wealth.
2011 was also marked by two quiet doomsdays (one in May and one in October) and though most people ignored them, there was enough of a kerfuffle to make people start liquidating their assets and start looking at precious metals. Now, in all seriousness, WE here at Silver Today think that the whole Doomsday stuff is hogswash, BUT with 2012 looming at the infamous end of the Mayan Calendar, there may be some fallout to precious metals with many people gloomily predicting a dive in the value of currency and so an increase in the value of hard metals like silver and gold. Who can say; people are a whacky bunch.
Back to 2011. 2011 saw an overall zig-zag pattern of silver prices with silver dropping as much as 20-30 points and then rising as much as 60 points overall, putting silver in the Plus Bracket for the end of the year-just barely. Silver will probably be ringing in the New Year with prices sitting at or around $25-30/oz. To compare, in January of 2011, silver prices sat at $28.01/ounce. As you can see, silver didn’t really move that much overall, but throughout the year, it boogied!
Best Months for Silver: April, with silver prices reaching close to $50/ounce! It’s no wonder people were singing the praises of silver.
Worst Months for Silver: October, with the European market getting shot to heck, prices plummeted to $27/ounce and the month zig-zagged and spiralled around into November which wasn’t much better!
Is Silver Worth Investing In?
Yes! Although silver had one heck of a bumpy ride in 2011, the overall trend was still an upward one with silver averaging out several dollars or more per ounce than the year before and on a steady incline into 2012. The reason for this is simple, but myriad: silver is used in many aspects of life, silver mines are opening up again, hard currency is becoming shakier with economic turmoil and throw in a doomsday or two and you have a recipe for increased prices in silver into 2012. Will it reach $100 or more per ounce? Well, many people are hopeful, but we here at Silver Today will be happy for an overall increase of any sort really.
2011 was bumpy, confusing and volatile, but in all honesty, what more can you expect from silver? Keep your hopes up, your silver coins shining and your bars stacked because 2012 is just around the corner and whether it brings fire, meteors, or nothing at all, we want you to feel comfortable, secure, and excited about the prospects of silver!
Happy New Years everyone!
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