silver and gold are both down this morning

[The Freethinker]

Silver is at $17.87 and gold is at $1189.

 

[Bruno]

Sweet! Buying op.

 

[Mahkato]

Probably because investors know that the soon-to-be-signed financial reform bill will fix everything so our economy is safe once again.

 

[Dr.3D]

Probably because investors know that the soon-to-be-signed financial reform bill will fix everything so our economy is safe once again.

LOL, yeah.. they know it will make it even easier for those who are manipulating the metals to keep the prices down. They will sell high and wait for the serious manipulation to take place and then buy at the new low sale prices.

 

[SevenEyedJeff]

Found on GIM2 forums. Thought you might like this.

 

[Seraphim]

Probably because investors know that the soon-to-be-signed financial reform bill will fix everything so our economy is safe once again.

There is this but I think there is a larger factor.

Before the G20 meeting I was thinking that world political leaders are VERY dependent on their fiat masters. With gold and silver performing so incredibly well, they NEED them to go down in order to scare investors away from them and back into bonds and stocks. To save their own system.

The fact that gold and particularly silver are EXTREMELY manipulated markets (in the form of huge amounts of paper "gold/silver". These paper assets are largely controlled by, for example, by JP Morgan, making it possible to manipulate the price lower (or higher, but really...LOWER. almost always lower).

The amount of paper gold and silver has kept the price lower by artifically meeting demand. When the huge financial entities sell off a huge portion of their paper reserves it drops the price a lot (AND they win out on their GIGANTIC short positions).

My thinking is that I was right. At the G20 they discussed (among other things), the price of gold and how they cannot have investors convert their money to gold.

 

[Bruno]

Found on GIM2 forums. Thought you might like this.

That is hilarious!

 

[The Freethinker]

It's down on Monday, July 19 2010 again. As of 1:23PM EST silver is at $17.56/oz, and gold is about $1182/oz.

 

[Seraphim]

It's down on Monday, July 19 2010 again. As of 1:23PM EST silver is at $17.56/oz, and gold is about $1182/oz.

That plus the CAD strenghtening= I bought some silver today. I bought 11 one ounce silver Maples.

 

[ibaghdadi]

Sweet! Buying op.

Wait it out a bit, I expect to see a short-term drop in gold, maybe going to 1155. Based purely on technical analysis - any developments/news/etc may of course change this.

 

[The Freethinker]

Silver and gold are still down today on 7/21/2010 at 11:22AM EST.

Silver is at $17.74/oz; gold is at $1,191.50/oz.

 

[Dforkus]

The 10 year is rallying down to near 2.9% again...

Cash is king!!! - Ok I B trollin, but seriously, as long as there is that kind of demand for debt, don't expect PMs to do anything too amazing...

If you'd have told me last year that we'd be talking about 2.9 on the 10 year in summer 2010, I would have scoffed at your sillyness:o

 

[Seraphim]

The 10 year is rallying down to near 2.9% again...

Cash is king!!! - Ok I B trollin, but seriously, as long as there is that kind of demand for debt, don't expect PMs to do anything too amazing...

If you'd have told me last year that we'd be talking about 2.9 on the 10 year in summer 2010, I would have scoffed at your sillyness:o

I expect silver and gold to break out near the end of the summer to mid fall. Summer is always a down period for PM's. This is a normal cyclical market correction. The prices will continue to rise in the long term.

I.e. this is a fantastic buy opportunity.

 

[The Freethinker]

I expect silver and gold to break out near the end of the summer to mid fall. Summer is always a down period for PM's. This is a normal cyclical market correction. The prices will continue to rise in the long term.

I.e. this is a fantastic buy opportunity.

It is a good time to buy indeed. I'm considering a purchase myself and this given my latest purchase was delivered a few days ago.

 

[phill4paul]

mendment Slipped Into Health Care Legislation Would Track, Tax Coin and Bullion Trans

http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611

Get your orders in before Jan. 1st. 2012.

 

[Bossobass]

Secret gold swap has spooked the market

It takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion

At first it looked like the BIS was swapping gold with a troubled central bank. After all, the institution is the central bankers' bank and its purpose to conduct transactions with national monetary authorities.

This led to musings that the counterparty was the IMF, making sense because the lender of last resort is historically prone to cash shortages and has been quietly selling off gold in the first half of the year.

This would add an extra layer of anonymity. "So the BIS swaps look like a tripartite transaction," writes Adrian Douglas of the Gold Anti-Trust Association. "The commercial bank or banks made a swap with a central bank or banks and then the commercial bank or banks made a swap with the BIS."

LINK:
http://www.telegraph.co.uk/finance/markets/7884272/Secret-gold-swap-has-spooked-the-market.html

Bosso

 

[SLSteven]

bump

 

[WaltM]

wow, talk about deja vu.

still not low enough for me to buy though (damn, this is supposed to be summer!)

 

[The Freethinker]

wow, talk about deja vu.

still not low enough for me to buy though (damn, this is supposed to be summer!)

Deja vu indeed.