What the hell is happening to gold and silver?

[Freedom 4 all]

Gold tumbled nearly $300 in these last few days and silver is falling as well. Isn't that only supposed to happen when the market and dollar are doing well?

 

[Travlyr]

Silver is down more than 7% today and Gold - Silver ratio is 47.5 ... Wow.

 

[freshjiva]

Same thing happened during the 2008 crisis, folks. Margin calls on stocks getting flattened is prompting liquidations in gold.
Longer term prospects in PMs are stronger than ever. This is nothing but a buying opportunity.

 

[pmbug]

^^ Yep.

 

[QE Is Theft]

Same thing happened during the 2008 crisis, folks. Margin calls on stocks getting flattened is prompting liquidations in gold.
Longer term prospects in PMs are stronger than ever. This is nothing but a buying opportunity.

I agree, but I wouldn't buy till the S&P drops further and the dollar stops rising.

 

[specsaregood]

Remember that collapse in 2008?

I loaded up the boat at $10.

and stacked a few more at around 800.

too bad i had to lose them all in a tragic boating accident.

 

[Seraphim]

Don't forget that debts are still paid in fiat - when margin calls come a knockin', many assets must be liquidated to pay the debts.

 

[Tiger35]

Also remember this is paper. The true price of phyz has yet to be found. Mike Maloney thesis Massive Deflation followed by Hyperinflation. QE3 will soon be on the way. Already talking about it on CNBC by the shills. Keep stacking.

 

[ILUVRP]

looking at the SLV chart above , connecting a couple bottoms together it looks like silver will go to $27/oz , also a pretty strong head and shoulders formation with right shoulder hitting at about $27.

chart traders love these signals.

 

[Kerbouchard]

too bad i had to lose them all in a tragic boating accident.

Which lake? lol

 

[Seraphim]

I've been saying for a while that in a systemic deflatonary crash, silver will probably go to the emid 20's in $. The irony of such a drop is that it would represent a MASSIVE bullish flag for the long term secular bull market.

Good stuff man.

looking at the SLV chart above , connecting a couple bottoms together it looks like silver will go to $27/oz , also a pretty strong head and shoulders formation with right shoulder hitting at about $27.

chart traders love these signals.

 

[LibertyEagle]

Which lake? lol

 

[Romulus]

***Waiting for a good time to buy.. its getting close

 

[Dforkus]

Cash is king on a day like this

 

[Bruno]

buying opporunity for those that have been waiting

 

[craezie]

Got 6k sitting in a drawer from a car I sold a couple of weeks ago. Gold, silver, or plat?

 

[Seraphim]

1 ounce of gold, the rest silver...IMHO.

Got 6k sitting in a drawer from a car I sold a couple of weeks ago. Gold, silver, or plat?

 

[-C-]

1 ounce of gold, the rest silver...IMHO.

This

Cash is king on a day like this

key words, a day.

 

[ibaghdadi]

Don't hit the panic button, guys. This may be the last opportunity to buy silver & gold at these prices. This is a golden (no pun intended) buying opportunity.

God knows how many margin calls were hit today, so many had to liquidate gold & silver to cover.

(May mention that today James Turk confirmed his prediction of $2000 gold by end of October.)

 

[ibaghdadi]

Just heard that total margin calls in copper & crude were more than USD 7 BILLION.

No wonder they had to liquidate some PMs, and no wonder demand for cash increased.