Gold and Silver DROP!!!

[pappy]

Wow. Just Wow!

Gathering funds for big silver buy soon.

www.kitco.com

pappy

 

[Fox McCloud]

$12.62 for silver? Excellent time to buy...wonder if it'll go lower?

Central Bank collusion at its finest.

 

[Gideon]

Just keep buying physical Ag...

$12.62 for silver? Excellent time to buy...wonder if it'll go lower?

Central Bank collusion at its finest.

Keep buying silver all the way down, and all the way back up, until there ain't no more physical silver to buy.

There's plenty of gold...

 

[roshie]

I've been doing some research and it looks like the big banks are lowering prices on commodities and getting ready for a big loss next week.

 

[Thrashertm]

I'm going to buy some more silver...but good grief. This is scary. I think I'm down 25% this year on commodities. This is after being up about 10% - so a 35% swing!!

 

[NinjaPirate]

I wish I had money... *cry*

 

[Cowlesy]

whew baby she's droppin like a stone

i don't see why people are grinding their teeth over this --- it just makes it cheaper for you to buy.

 

[Johnnybags]

Good time to begin averaging in

I suspect some major players are being forced out of the market all at once. Perfect time to take long term advantage.

 

[Bruno]

whew baby she's droppin like a stone

i don't see why people are grinding their teeth over this --- it just makes it cheaper for you to buy.

The only question is how low will it go?

 

[Cowlesy]

The only question is how low will it go?

$500 is my entry point for gold...it's arbitrary though.

 

[muh_roads]

whew baby she's droppin like a stone

i don't see why people are grinding their teeth over this --- it just makes it cheaper for you to buy.

Because I already blew my load much higher and don't have any more to buy. :-(

 

[Dr.3D]

Because I already blew my load much higher and don't have any more to buy. :-(

It isn't easy to find any to buy right now anyway. Why if everybody is selling, is there nothing to buy?

 

[muh_roads]

I'm working to try and match my $500 purchase at 19silver by buying another $500 at these levels.

But I can't match my much larger 4 figure purchases for each gold & silver when they were at 890 & 17...and then another smaller 4 figure amount of gold at $970 I am just a bit annoyed about that.

I don't really NEED the money but it'd be nice to know I could cash back out. Right now I definitely can't.

At least I didn't buy anything on any sort of margin loan, I guess. Never buy with money you don't have. Home equity is okay.

 

[Shinerxx]

It isn't easy to find any to buy right now anyway. Why if everybody is selling, is there nothing to buy?

The vast majority of people selling are selling paper PMs like the ETFs SLV or GLD. I believe the majority of people that buy physical precious metals have a long position. Since most physical investors are holding their stacks there is less bullion to go around.

 

[Dr.3D]

The vast majority of people selling are selling paper PMs like the ETFs SLV or GLD. I believe the majority of people that buy physical precious metals have a long position. Since most physical investors are holding their stacks there is less bullion to go around.

Exactly! The silver and gold being sold and lowering the price of those metals is non existent paper metals.

Edit: What I mean by non existent paper metals is the paper is unbacked by any physical metal.

 

[TheEvilDetector]

Exactly! The silver and gold being sold and lowering the price of those metals is non existent paper metals.

Edit: What I mean by non existent paper metals is the paper is unbacked by any physical metal.

My thinking is that there is a dislocation between spot price and the market. (ie. the physical market is not liquid right now, because the dealers do not have any stock or are not willing to sell at these artificially depressed prices).

I think silver and gold will rebound within 1 week.

 

[theoakman]

I would be buying at these prices. If you wanna know what the REAL market is doing, check apmex and see what's available right now. That's right, NEXT TO NOTHING. No one is willing to sell them their metals at these prices but everyone is willing to buy.

 

[Shinerxx]

Exactly! The silver and gold being sold and lowering the price of those metals is fiat paper metals.

The ETFs could lie about their holdings. I do not feel they do. Occam's razor states the simplest answer is usually the correct answer. It seems more simple to say that the ETFs were heavy on short positions that are jumping ship to get on board the dollar rally. Imaging something insidious going on with precious metal ETFs seems more complicated to me.

 

[Bruno]

The vast majority of people selling are selling paper PMs like the ETFs SLV or GLD. I believe the majority of people that buy physical precious metals have a long position. Since most physical investors are holding their stacks there is less bullion to go around.

Two local dealers had no K-rands to buy. If people were dumping physical gold, you'd think there'd be a few to pick up.

 

[danberkeley]

could be the PPT via centrals banks that surpressing the price of gold. wouldnt be surprised if oil dropped 40% from its high and gold matched an equal plunge.