Posted by C Scheftic on 2010/09/28
Silver clay has been available for a little over 10 years. Aside from a relatively brief price spike (well, it did last several years in the late 1970s – early 80s), the price of silver had been fairly stable for decades: a few dollars per ounce.
In the last ten years, the price of silver has risen from approximately $4/oz to $22. That comes out to an average of about a half a penny ($0.005) per day. Except it has not been a steady rise. The start of the climb was very slow, hard to distinguish from normal seasonal fluctuations.
I first got my hands on the stuff about 5 years ago, and began watching silver prices more closely. Over that entire time, the increase averages out to about twice what it had been, but still under a penny a day. (I’m doing rough averages simply to give a sense of how the situation is changing.)
Over the past year, however, the increase has gotten steeper: the one-year average is just about double the five-year average increase. Still under two cents / day but edging up to that.
And over the last six months, its crossed that barrier, with an average of 2.5 cents/day increase in the “nominal” price of silver.
But the increase continues to speed up!!! Nearly 7 cents/day over the last two months, and almost a dime (10 cents) a day if you include only the last 30 days. (That lattermost timeframe is important to me: a dime a day since I agreed to rent a studio! Aack!!)
Mind you, it’s not metal clays that are driving these increases. Investors are doing that; we’re just collateral damage. With unstable markets, economic uncertainties, questionable currencies, etc., investors shift to buying up things like precious metals. And their actions affect the prices that everyone must pay, metal clayers and other jewelers, product manufacturers, and more, and then pass on to the eventual consumer.
I hadn’t planned to mention all this a second time, but I’d had a DVD playing as I worked this morning and, when it ended, the system switched to TV which was showing The View. (I don’t normally watch it–don’t watch much TV in general–but will occasionally catch a couple minutes of something like that before I stop what I’m doing to turn it all off.) There was a discussion of “should you buy gold or platinum now, given how high the prices are” and the answer was that “there is no reason to think they won’t go even higher.” Some “expert” then started advising people to invest “in metals, but on paper” (my terms, not theirs); that is, do it via a broker so that they didn’t have to worry about storing and safekeeping the actual stuff themselves.
And then Whoopi Goldberg chimed in with, “But why not just go and buy some great jewelry?” Sadly, she was answered with a few laughs and a commercial break, and then that segment of the program was over.
But I thought Whoopi offered a great suggestion! Don’t you?