Silver is tanking! Gold is down, but hanging! Is it time to buy PM again?

[echebota]

Silver is down 8-9% at 1:24pm EST Gold is down 1-2%

Is it the beginning of the "global action" plan we were hearing about?

So does it make sense to buy gold/silver on this dip, or food/medicine/ammo look like a more appropriate choice now???

(By the way, US and other government bonds are also going down slowely day after day. It seems that cash is the only thing that people wanna be in... But considering the artificail and controlled nature of fiat currencies it's also a risky move ... )

 

[Brian4Liberty]

Dollar cost average...

 

[TheEvilDetector]

Silver is down 8-9% at 1:24pm EST Gold is down 1-2%

Is it the beginning of the "global action" plan we were hearing about?

So does it make sense to buy gold/silver on this dip, or food/medicine/ammo look like a more appropriate choice now???

(By the way, US and other government bonds are also going down slowely day after day. It seems that cash is the only thing that people wanna be in... But considering the artificail and controlled nature of fiat currencies it's also a risky move ... )

Paper prices no longer have any meaning, they are suppressed.

Potentially there are 2 causes that I can see:

1. Concentrated shorts are being used to push paper gold/silver down, so that gold/silver can be gobbled up cheaply for physical delivery using futures, emptying COMEX warehouses in the process.

2. Paper gold/silver is getting dumped to get dollars for liquidity to cover stock losses.

Try getting physical gold/silver at those prices, it's hard.

This paper price suppression doesn't mean anything because the physical market has its own price.

 

[tuckessee]

Try and find physical gold & silver at those prices.

If you do, you can flip it on ebay for a tidy profit.

The spot price and the Real World price are currently not connected.

 

[ItsTime]

Paper prices no longer have any meaning, they are suppressed.

Try getting physical gold/silver at those prices LOL.

try getting it at all! My coin dealer only has 2 oz of gold left. He says he has a lot of silver but I dont know what he thinks "a lot" is.

I hear lots of people saying they can not find physical silver at their local shops.

 

[echebota]

as we speak PMs are freefalling: gold -5.5%, Silver -12.5%. I agree that these are "disconnected from reality" prices, but what does this move in paper prices indicate? Capitulation of the PM market????

 

[gls]

PMs are way down yet every last item on the APMEX top 40 is out of stock.

http://www.apmex.com/APMEXTop40/Default.aspx

This would be a good "buying opportunity" if anything was actually available.

 

[Bruno]

Dollar cost average...

Powerful answer contained in few words.

 

[s35wf]

good luck finding anything to buy anywhere close to spot. screw it, i just ordered canandian silver maple leafs for about 4.50 over spot. i'll sit on on forever, just so its worth something cuz i feel a currency collapse coming ahead.

 

[Mister Grieves]

$9.73

wtf!!!!

 

[echebota]

Well, dollar cost average does not explain this move completely:

USD index: +1.34%
Gold: -7%
Silver: -20%!!!!!!

I agree with everybody, this doesn't mean a thing about the actual physical PM market for mortals like us. But i'm trying to figure out what to make of this move?

 

[SeanEdwards]

Do the markets think that shrinking economic activity will lead to reduced industrial demand for silver?

 

[Scribbles]

Bloomberg says that investors are selling off metals to raise cash.

http://www.bloomberg.com/apps/news?pid=20601012&sid=ayIqp8wM9JZc&refer=commodities

 

[Dustancostine]

Well, dollar cost average does not explain this move completely:

USD index: +1.34%
Gold: -7%
Silver: -20%!!!!!!

I agree with everybody, this doesn't mean a thing about the actual physical PM market for mortals like us. But i'm trying to figure out what to make of this move?

You would figure with Silver tanking, no one would want it. Well I just called all around town, and nobody.... I mean NOBODY has it. So there goes that theory.

--D

 

[ItsTime]

You would figure with Silver tanking, no one would want it. Well I just called all around town, and nobody.... I mean NOBODY has it. So there goes that theory.

--D

I can sell you it $22 for liberty dollars. with free shipping. Just PM me if you want some.


That goes for anyone. PM me if you want to buy.

 

[lodge939]

The paper market seems to just go the opposite way of the dollar

 

[Cowlesy]

More than likely funds are getting margin called out the wazoo right now causing a massive liquidation of their gold positions.

I think this is an attempt to raise cash to post collateral. It is mindblowing how far a lot of these notes have been marked down and the staggering size of the margin calls going through.

 

[Brian4Liberty]

Well, dollar cost average does not explain this move completely:

Dollar cost averaging was just the answer to your question about when/if to buy. Take the amount of money you would like to put in metals, divide by 12, and buy that amount each month for the next year.

 

[TheEvilDetector]

Dollar cost averaging was just the answer to your question about when/if to buy. Take the amount of money you would like to put in metals, divide by 12, and buy that amount each month for the next year.

While that strategy can be useful under ordinary circumstances, if applied to PMs in this environment there might not be any left to buy towards the later phases.

 

[rancher89]

You would figure with Silver tanking, no one would want it. Well I just called all around town, and nobody.... I mean NOBODY has it. So there goes that theory.

--D

did you ask for 99% or 90%?

most everybody is out of 99% except larger ignots.

there are still "coins" and other 90% stuff floating around, check the coin shops