If you’re a serious precious metals investor, you’ve probably spent countless hours searching for a silver spot price chart that answers to the following questions: When is the best time to buy? Should I make a move right now?
Whether you’re new to the game and want to stay informed, or just searching for market indicators to add to your research list, doing your homework just became a little easier thanks to the Historical Spot Price Charts available at Provident Metals.
Now that you have the tools you need to better comprehend the past, let’s take a look at a historically volatile time frame for silver spot prices — late March through early May — when it’s been either boom or bust over the past eight years.
From March 6 through May 5, 2006, silver prices increased 28.41% to land on $14.87 per ounce. Two years later on May 13, 2008, silver had spiked all the way to $20.67, but within two months dipped more than $4 for a decrease of 21.34 %.
Over the next three years in nearly the same two month span, prices grew at the following rates:
April 6, 2009 – $11.88
May 1, 2009 – $14.27
Increase – 20.12 %
March 19, 2010 – $17.94
May 15, 2010 – $19.48
Increase – 8.58 %
March 20, 2011 – $37.81
May 2, 2011 – $48.48
Increase – 28.22 %
However, 2012 and 2013 answered with significant drops in spot prices:
April 10, 2012 – $32.37
May 20, 2012 – 27.26
Decrease – 15.79 %
March 10, 2013 – $28.07
April 16, 2013 – $22.74
Decrease – 18.99 %
Silver currently sits at $19.88 as of this writing, down 17 cents on the day, but based on the boom or bust history of the market, you’ll need to decide when the best time to act will be. Should you buy now as silver waivers around $20, or will you wait through the month and see if significant movement takes place before pulling the trigger?
Whatever you decide to do, just know that you can learn about the recent — and historical — trends in the market at Provident Metals.
What do you think?
Do you buy based on trends or just pick your spots when the prices are right? What are your thoughts on the Historical Spot Price Charts? Will it assist your investing?
Leave us a comment below, or visit our Facebook, Twitter and Google+ profiles today.
Bayrat says
Looking at history doesn’t help predict the future!