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The Precious Metals Morning Slam Is Right On Schedule
As noted yesterday, the paper precious metal 'slamdown' window remains open for another two hours as Gold trades under $1600 and Silver below $29. In other news, US Mint reported February physical gold and silver sales through yesterday have already surpassed the 2012 February total.
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I'm buying more silver on Friday. I'll give it a few more days for them to really bitchsmack the life out of it before options expiration on Monday.
COMEX war against open interest, that's all. Trying to get holders to pitch. This is nothing new, and about as far from underlying fundamentals as can be. But then, so is this entire experiment.
exactly, thought about buying calls two weeks ago until i saw the massive open interest relative to puts. these slamdowns are becoming so predictable
But what's different is that holders aren't pitcing. During these slams, OI has been actually going up! So the price controls aren't working and this is getting really serious for the COMEX criminals. Whoever is buying is big and is aware of the game and pushing JPM and HSBC to the brink. This is getting good.....
Gold is on sale? I liiiiike it! Time to load the truck again!
Mad money bitchez! There is a hypothetical war playing out in the pm market hear my words.
Do you remember Goldman et als forecasts for gold year end 2012? Do you now see? Spot prices are for dummies.
All the gold and silver on the surface (and in the ground) is accounted for over and over and over and over and over and over and over and over and over and over and over again!
Million Dollar Bonus was right. Sigh...
That would be a contrary indicator to buy, buy, buy. Sort of like the shoe shine boy telling you to buy RCA and other "tronics".
Jail Bart Chilton.
THe corrupt CFTC wont declare this regularly timed, exploded OI, concentrated short as manipulation.
The paper is flushing, while the mint stops sale of PMs. The COMEX cant make delivery and the miners are a bargain?
Looks like the MSM isn’t going to say the N word!!!
http://zeenews.india.com/news/goa/nationalise-mining-in-goa-cpi-m_805950.html
http://www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=170618&sn=Detail
http://business.iafrica.com/news/840827.html
http://www.socialistworker.co.uk/art.php?id=30379
http://za.news.yahoo.com/no-plans-mining-tax-hikes-says-gordhan-045846584--finance.html
Damn I hate how impatient I am. I friggin bought yesterday…
At these prices I don't think you could really make a mistake now. I'll probably wait too long to order....but even then it'll be a good "investment". Is it just coincidence we've seen the prices slammed after they sold out of silver eagles last month? I seriously doubt it. Now I think the cartel just wants to rub peoples' noses in it while they can.
Agreed, I bought more, I'll buy some more, damn right I will!
Last fall, premiums at the place I buy were 5.5 % over spot. In Jan they were 7.5% over spot. Yesterday after the slam they were 9% over spot. Today (as of 5 mins ago) they were 12% over spot.
There is no bad time to buy at the lower end of this channel. Buy physical, hold, sit tight, and wait the criminals out. Something big is coming and something has to happen as far as a movement or policy change. Status quo for Bernocchio is not working.
"Last fall, premiums at the place I buy were 5.5 % over spot. In Jan they were 7.5% over spot. Yesterday after the slam they were 9% over spot. Today (as of 5 mins ago) they were 12% over spot."
Wow are you getting ripped off! I can buy bars ~2% over spot right now in gold and silver at my usual local bullion dealer.
When I buy I just walk in the door, but they also operate a shipping company with elevated prices:
http://www.bordergold.com/products.php
12% over spot is criminal!
Yes, 12% over spot is criminal. I followed your link and went to the Border gold site. Right now they are showing 1 oz silver maples for 11.2% over spot. Show me 2%???????
Border gold 100 oz silver bars are selling right now for 6.4% over spot, according to their website.
Last time I bought from Border Gold they didn't have it in stock and ordered it directly from the mint (maples). 60 days later it arrived...... Never again.
You can't compare the mark up on the maples vs. spot price. The maples are already priced differently to spot, the spread on their maples is $1.50. Why people buy maples (other than lack of funds) is beyond me, but to each his own.
I was talking about the bars, which are marked up ~4% to spot.
I wouldn't buy phys online either, I just thought since you were getting hammered so hard on the mark-up from wherever you were buying you could at least get a reasonable price from BG.
I just noticed you wrote that their mark up on their bars is 6.4%, you must not have it all in USD
One last thing, the 10oz gold bars are ~2% over spot which is what I'd expect.
Yes, was referring to silver. Right now with GSR over 53, I'm buying silver. When it goes to 32 range, I'll trade in my silver for gold. Right now is not the time to buy gold if faced with a choice, IMO.
BTFD
Any fiat comes to the end (sudden and substantial loss of its value) when there are no takers willing to accept fiat in exchange for underlining hard assets. This goes for US$ (as the reserve currency) or gold or any other hard assets.
Speaking about gold, the paper-gold system collapses the moment when holders of fiat paper-gold become concerned about security and/or value of their paper-gold holding and want to exchange their paper-gold for physical gold. This exchange process cannot occur due to the nature of fractional fiat creation when fiat paper-gold quantity enormously exceeds the amount of physically available gold assets.
At the moment, China reluctantly supports fiat US$ since this reserve currency is used by Chine to acquire hard assets (oil, gas, copper, and other commodities). At the same time, the use of US$ heavily taxes China's economy. Consequently, China intend to stop using US$ in their foreign trade.
Price of Gold Dynamics
There is fiat paper-gold and there is physical gold.
We were told all these hyper smart and complicated theories about price of gold. But somehow all these theories are close to useless since there is no guidance to explain the current price and/or predict future gold price.
Well, regardless what someone might say or do there no way to change the Law of Nature or fundamental laws of economics. Specifically, nobody can abolish the law of Supply and Demand regarding to gold. In other words, if gold could be mined in quantities and at the cost of copper or bronze, gold would not be much more valuable than copper or bronze. It is that simple.
Now, let us look at gold supply. Approximately, 2,500 metric tons of gold is annually mined all around world. Presently, private buyers in China and India buy approximately 1,100t of gold. China mines and keeps its 320t of gold. Therefore, there are ~1,000t of physical gold left for the rest of world including world central banks to accumulate.
As the printing of fiat reserve currencies continue, inflation around world will accelerate creating a strong physical gold accumulation particular in Asia. Consequently, even a very minor run for physical gold will lead to a forceful sale by central banks to prevent a panic. This is when fiat-paper gold will collapse creating a worldwide run for physical gold. I thing we are not too far away from this point.
dear nank,
hows it going. everything good? ok.
here's the thing. people are loading up with metal. that's just how it is.
so here's what you're going to do. you and mister loo are going to work together to jack up prices on the metal assets.
he said "mister loo would jack"!
no playing around here. factor of 100, nank.
wealth effect.
people are going to generate economic activity like you wouldn't believe.
an ounce at 150k. are you reading me nank? an ounce.
it would buy a house. it would start a business.
150k for an ounce, nank. real estate prices to the moon. mark-to-market again. solvent banks. mbs rocket.
free the ounce, nank. stimulate the boom. let the horses run free.
the ounces will once again flow. maynard envisioned it. you can make it happen.
velocity, nank. hot, flowing ounces.
organic, liquid, mobilized, slippery, shiny, endogenous, circulating ounces.
just think of it.
and then please clean up after yourself.
+ 1
Very creative! I would take $150,000 / oz...
exactly!!!
and with that 150k you'd buy that car and that boat and that big screen tv and hookers and blow and an apple trinket.
NANK! take note, buddy! the wealth effect can be had right here right now.
he said "note"
I'd pay for a boat even now... I really need it for boating accidents!
You guys are just too cheap - 1T$/oz is the exact platinum convertible, market value, once you factor in US national debt (or so I've been told...)
SLV jan 2014 open call volume = 365,844
SLV jan 2014 open put volume = 198,866
Almost a 2-fold call/put volume
Indeed, paging Eric Sprott, care to comment on PSLV?
You can keep buying at lower levels each day, but your losing money each day too. Weeks ago I hedged my phys gold position by buying a 3x Inverse ETF Bear Miners Fund (DUST). Now, I will have huge buying power as this move bottoms out. Still time to hedge, as we at least are falling to 1500 (but probably will go to 1300).
When I back my truck up this time, it will be a very big truck - not a pickup.
Good for you. I prefer to keep my shiny stuff where I can see it...in the surf next to the Bainbridge ferry.
Your freshly printed QE tax dollars at work......it's the only plan going right now.
I don't have to pay my taxes for another few months. I'll buy the silver smash and file for an extension.
Look at Spot Silver real time as it prepares to bounce: http://www.pmbull.com/silver-price/
no way dude. compare to NWTMINT.com Look at the buffalo 1 oz. rounds on PM Bull vs. the Pan American rounds on NWT mint. At least a dollar more per round on PM Bull. Also the free shipping kicks in with a lot smaller buy on NWT mint @ FREE in the continental US. $2500 buy before free shipping on PM Bull.
The downside on NWT Mint is that it's 8 weeks out. Not sure about the lead time at PM Bull.
Harvey Organ at
http://harveyorgan.blogspot.com/ tracks this daily. It looks like a big player or players are loading up on the silver raids increasing the open interest -- not exactly the desired effect the raid is supposed to produce. One of these days it will turn up and all hell will break loose.
This might give you some fresh insights into the machinations and manipulations in the gold and silver markets.
This is work is right up there with G. Edward Griffin's Creature from Jekyll Island and similar works in terms of peeling back the layers of government disinformation, propaganda and criminality to reveal what could be at the nasty core of it all.
==========
Eric DeCarbonnel’s presentation on the US Treasury’s ESF based on his extensive research. Part 5 gets into what he describes as the Deflation Myth.
http://www.dailymotion.com/video/xn4a62_exchange-stabilization-fund-parts-1-to-4-eric-decarbonnel_news
http://www.dailymotion.com/video/xn4i9o_exchange-stabilization-fund-part-5-eric-decarbonnel_news
• The Exchange Stabilization Fund (ESF) was created (without oversight) by Congress in the 1930s to ensure support of the Dollar. It has done a lousy job of what it was supposed to do, as the Dollar has lost almost all its value.
• The ESF was put in the hands of the head of the US Treasury and the US Treasurer has absolute power to do what he wants with the fund.
• As a result, the ESF has acted as a giant slush fund that has funded the growth of the American Empire over the past century against the will of both Congress and many bankers in private industry.
See more: http://www.thedailybell.com/3343/Fearfully-the-US-Treasurys-Secret-100-Year-Old-Fund-and-Its-Dark-History-Has-Been-Exposed-
+1 Great stuff. Thx...
Wait till they jack margins sky high.. peeps will start capitulating into the waterfall which will be a glorious buying opportunity
Exactly. "they're lowering them you dope." Gold...and now even silver apparently...are flooding into the US market. One does not manipulate these prices lower...only the market can do that. If oil starts flooding in too "watch out below." natural gas still looks like a good trade because so much is wasted....but if "printed solar panels" is for real then even that looks vulnerable.
They are lowering them to encourage buying by US citizens, after that confiscation.
Confiscation conversion price: $250/oz for Gold, $4/oz for Silver.
You lose, socialism wins!
My thoughts are similar. If the buyer actually wants the gold and positively won't settle, we could be looking at another MFG incident shortly.
I think it's worth keeping an eye on the COMEX inventory. Also, if this works for the buyer, it's blood in the water to the sharks, which is no doubt one reason they're slamming so hard. I don't think they've run into that many outside of the MFG situation where the buyers absolutely wanted the gold no matter the cost.
I think this is how it will implode...think China buying most of the OI......and asking for delivery on all of it....that would crush the game....
This is getting good.....
http://www.reactiongifs.com/wp-content/uploads/2011/05/tumblr_ljh0puClWT...
Hey guys, you really have to stop all this buying of physical PM. All the manipulation is so that Chinese - NOT American - citizens can afford gold.
Yeah, it's too bad. I don't want all the metal moving to China via Hong Kong either, but I'm not the one raiding gold and silver in an attempt to force players in the futures market to liquidate. I like the lower prices though because I'm still a buyer.
It will really get ugly when those players demand delivery rather than rolling it over or taking cash.
Yes you are supporting the evildoing hackers by buying all of the phyzz and thus can be seen as contributing to turrism. Therefore, please turn in all of your PM's which are now considered weapons of mass destruction of the US dollar. No worries though. you will be given an equivalent amount of "Patriot Paper" aka 30 year UST's and a spiderman towel for your trouble.
The more demand the cheaper price.
The more we print the cheaper it gets.
Clear message from the charitable Fed to its citizens that so few grasped...
This is a gift to those and their families who are buying and holding physical silver and gold. The ones buying physical precious metals today and holding for the very near future are elevating themselves to a level on par with that of aristocracy. It is a paradigm shift. The smallest amount of silver and gold is great wealth with very soon to be enormous purchasing power.
What is really hilarious is all those kool aid drinkers over at Turd's site blasting "Blythe"
She and her traders must get a good daily laugh reading all that clueless BS
Here's a question for you conspiracy buffs, since Turd has been so wrong for so long, isn’t it time to consider whether he is doing "Blythe's" bidding by spreading bullish disinformation to the masses while JPM shorts into those clueless motherfuckers?
Just wondering........
I wont junk you because its a fair question as Turds joint turned into an echo chamber when he allowed his moderators to ruin the site from healthy debate by banning people.
Turds TA work has proven almost worthless is these manipulated and controlled markets. Buying physical is the only game left. Holding miners and trading futures and options is utter madness.
Absolutely. Not only Turd but every pundit and even skillful trader have proven clueless since 'the market' stopped being what it claims to be, and has transmuted into a chart dance charade driven by momentary mood, wisdom and plans of the social engineers. Crystal ball and psychoanalysis are necessary prerequisites to complete 'analyses' these days.
Turd is, at least, on the right track, which cannot be said about the myriads of pundits tweeting all over around.
Was thinking same, but I think somebody is going to scoop it up sooner, options be damned.
Look at spot gold coiled and ready to bounce - real time: http://www.pmbull.com/gold-price/
Change that chart to 15 min and it is at the bottom of the channel.
I just ordered some more silver eagles this morning
Methinks these PM sales are not going to last much longer... I grabbed up as much phyzz as I could today.
Currency wars as predicted here on ZH, by Rickards, and others occurring on queue... devaluations now daily...
There my be a few more sales here in the US as the mighty dollar will be the cleanest dirty shirt during at least the entry of the global currency crisis. But then it's Brenton Woods Part Deux time... Or not...
What about the death cross inthe gold chart?
Means moar sale! Woohoo!
No one cares dude.
.
Exactly. Hopefully they'll slam it again tomorrow and Friday. I'll be making a trip to the coin store on Saturday.
+ 1 Yes, we BUYERS of PHYSICAL gold don't worry much about charts. When I have extra money, I make similar trips to the gold (erm, coin) store.
When I go to the coin and 'stamp' store, I buy stamps. At least I don't have to keep suffering the boating accidents.
CNBC told me gold was dropping because people no longer needed a safe haven or store of weaIth, because the market is on fire! I guess that I have made a mistake. Does anyone want the 30 Freedom Girl and 30 Slave Queens I have on the way, sounds like I don't need them any more.
Yes but what about when gold rises?
CNBS always refers to gold as a risk asset?
So lets put this in context:
When gold was rising, CNBS refers to gold as a risk asset.
When gold was falling, now CNBS say 'investors' moving away from gold because gold is safe play, a 'safe haven' ...
..I see.....hmm?
There's a really good chance silver goes to $13-$18 this year. Likely within a few months.
.
Fuck, I sure hope so. I'll be loading up on all I can find at those prices, provided, of course, that there is any physical to be found at that price point.
Paper silver prices can go to whatever they want. If the spot prices for actual physical don't move with it, all the paper holders are phucked!
If silver gets that low and crude oil (Brent) stays above $100 a barrel, all silver production will stop. Miners are losing their asses now.
Cost of production for many silver miners is upper $20's and close to $30 an ounce now.
At $13-18 they will go under and massive shortages will occur. I'd say well before those levels....as anything below $26 would trigger a total disconnect.
According to the Chicago Tribune, The Bull Market is all but over: http://www.chicagotribune.com/business/yourmoney/ct-biz-0220-gail-201302...
I think the bigger story here is that it looks like around the end of March the year to date sales will have exceeded ALL of 2012...
Ron Paul was an oracle when he got the legislation passed for making these. The numbers match or exceed that which was minted during the era of the bimetallic system at this point. There is PLENTY of it for a FUNCTIONAL backed system and my personal theory is that this was slipped by TPTB in plain sight so when the cows come home to roost we will have the ability to conduct business outside of their evil dystopian technocracy.
I think people are "getting it", I think liberty minded people are battening down the hatches and donning their proverbial PM life preservers.
Get ready to buy; weeks away from bottom; gold: $135, silver: $3.50
The great American con game at the shithole in Chicago!
I can't wait until the price goes negative.
That'll be the time to take delivery.
NOW is the time to take delivery. If you don't, there won't be any left. We don't know when this will end.
Cost averaging remains the best method.
delivery??
they'll have to *pay* me before I'd take delivery for that stuff.
spoiler: being paid to take metal = negative price for metal
TMosley your prediction that the paper price is going to zero given the 2x,3x,4x whatever...increase in the green and digitial confetti is looking spot on. I just got another 30 day delay on Ag I purchased in OCTOBER from Northwest Territorial Mint. Based on Harvey's report now up to 38.5 Tons of Gold deliveries for February on the Crimex. Silver OI on Ag over 50,000 contracts for March and growing daily. If they hold like the Au longs did this month I got to think end of the road for Physical Ag within 45 days or a bailout for the Crimex.
Given the huge selloff in the Miners I am moving my IRA shares to my brokerage accounts. Figure with the capital gains I expect to see by year end plus the carry forward losses I have on cap gains will easily offset the penalties. Plus the draconian steps I anticipate on retirement account "gubmint management" will be mitigated.
Hanging in and still buying....
@ tmosley
+ 1
Indeed. They have been able to keep the physical out there (for us shrimps), yet I have to wonder what is going to happen when some of the bigger players do not want paper anymore. Right about the same time the SELLERS of physical disappear I would imagine...
Get those Gold Eagles while you can.
I can't wait until the price goes imaginary
(like in complex numbers)
That time is now. The price is imaginary. But then again so is the entire "market" and the "e-con-omy" for that matter. Carry on, sorry to bother you.
Price is anything but imaginary.
It is the only thing that matters and it is real.
+1 Best. Comment. Ever. Of course, if that happens, we'll need new derivatives so we can speculate on the phase shifts.
I prefer my complex number pricing as conjugate pairs.
Ag+bi
Au-bi
Bitchez
The prices usually are negative if you get to lease it.
Silver is negative lots recently.
Hello Bart are you there? Bart, put that hairspray down and do your job.
Gensler you're a crook and WE ALL KNOW IT.
Bart is part of the facade. Don't expect any resistance to come from an entity that is actually there to enable the manipulation.
It's all part of the show.
None of this matters. I'm more curious about the price a year from now.
Even 3-5 years from now is what I'm looking at
True, but this is the most violent move down since... uh.. the last smash.
So, anybody think this is the move that allows JPM to start covering shorts?
Funny thing is, I'm not seeing any capitulation. Look at TF Metals and all-in-all, they are pretty resilient.
Negative sentiment is more reserved than prior smashes. What's JPM gonna do if they can't get anybody to sell?
All those shorts are gonna have to be covered somehow. I don't think they can sit on them for a year.
NEEDS MOAR DEFLATIONS!
Still very slow compared to 2009, 2010, 2011.
Perfectly normal
Grand ETF Sale ...
Thank you Blythe , love ya <3
keep stacking , Bitchez!
BTFProlooongedD!
folks - there is no "conspiracy" here -
the falling PMs are signalling that the global governments and central banks are serious about reform - and will be raising taxes and cutting spending dramatically over the next few years.
That was pretty funny cow.
It might be a horse in DRAG.....don´t eat it....EATE MOR CHIKN
It did say it was a mad cow...
Pissed or insane, you decide.
I see Madcow has taught his Madcalves to hit the up arrow.
Is that you MDB...???
Give this man 3 moos for his optimistic insight..
monetise bs and you will be rich.
You're true to your nickname !
Serious about reform-----
Ohhhh, please don't make me laugh so hard...
I am only 61, and I remember buying gas for $.15, and my first car for $650. Ha Ha. Today that car is worth$15,000 and it is all original with 100,000+ miles.
Reform.....Ha Ha Ha, oh please stop.......
US debt and unfunded liabilities increase by $8.35 trillion a year. That can never be fixed by raising taxes and cutting spending.
Default or hyperinflation is the only solution.
Cutting spending and raising taxes is a recipe for disaster. If they decide to cut spending and taxes I would be worried about the PMs but raising taxes while cutting spending? Given the debt levels, that would lead to instant collapse of what is left of the real economy.
You channeled MDB.
I don't think I've ever given anyone a down arrow here but I had to give you one for that comment.
oh well... my options are dead in the water... might as well buy some silver at the end of the month to feel better :)
Sorry but you deserve it man.
You’re helping this shit to go on by participating in paper scam.
Just buy the real stuff God damn it !
I shouldn't drink...
I shouldn't smoke...
I shouldn't cheat on my wife...
I shouldn't drive to fast...
I shouldn't act like I work hard...
I shouldn't blog like half of the day during working hours...
YOU'RE NOT MY DAD!!!
How do you know?
I see a resemblance.
I can give you the link to my supplier of physical PMs in Holland if you want to get the real peace of mind that comes from holding the actual commodity in one's hands. Their premium is pretty tight too (in Gold, Silver has the problem of having VAT charged on it in most of Europe except Germany).
The only way to make money on long timescales is to buy what the government wants you to sell and sell what the government wants you to buy.
Say goodbye to 1600/30 for the rest of your lives. Time to join Team Blythe. Donning monkey suit right now.
Pussy.
Feels good sometimes doesn't it?
yes.
Team Blythe is winning. Team anti-Blythe is losing.
What makes financial sense?
Cat and WMT make sense to me. That and some patience.
There is a difference between winning the battle and winning the war.
This shit ain't over by a damn sight.
You're predicting quite short lives for us...
Your basing your comment on what exactly? Are you another schmuck suggesting new found discipline from our beloved Fed and Congress dispite any evidence of such? You have to check out www.cnbc.com my friend.
They just handed me my ass as I bought a bunch of calls yesterday. Why o why do I always keep trying to stop the falling knives of silver? Sigh...
Sorry but you deserve it man.
You’re helping this shit to go on by participating in paper scam.
Just buy the real stuff God damn it !
Exactly. If the retail crowd exited the market (and especially the paper metals market) and just bought the actual metal (apparently happening more based on mint sales figures) this game would be over fairly quickly due to inability to deliver. There's approximately 1 oz gold for everybody on the planet, and at current silver mine production rates of 770 million oz/year, one new oz per person every 9 or 10 years. Not to hard to buy at least ONE oz of real silver as insurance against all the government paper floating around these days.
You should avoid playing in the paper casino, especially on the 'buy' side in the options market. The 3 card monte games on the street are less rigged. Just buy the actual metal and put it in a drawer somewhere - it's no stress, never moves unless you move it, never expires, and you never get fucked by arbitrary moves in 'implied volatility'.
Is your broker in Belize or Costaa Rica. The week before last I had a bunch of calls from different brokers all based off shore that wanted to sel me PM options. I hadn't heard from these guys in months and then blam three calls in one day from different brokers.
Try a straddle next time!
Meanwhile, in New York, the stock market simply refuses to go down in spite of lousy fundamentals. How can anyone possibly trade this shit?
Momentum.
There is a 99.99% chance that the Algo's will sniff your stop/loss orders
This is probably the last buying opportunity at these levels.
I bet, within six months, we will have new all time highs.
I don't agree. There could be a 2008 style event before the PMs appreciate significantly.
SALE, bitchez....
I can do this all day. Since I stopped pissing money away into a 401k/IRA the banksters will confiscate someday anyway, I have lots of extra money to pour into silver on the dips. Take it back down to $26 please bitches.
I like that they are putting silver on sale by about 16% from a year ago, but when are they going to mark down food and energy as well?
"when are they going to mark down food and energy as well?"
They'd love to, but it seems the people buying food and oil actually want the food and oil.
Gee, you think there's a coordinated, deliberate effort to push it down. Nah, that would be too conspiratorial and we know those things don't happen, right. Situation reminds me of continually trying to push a beach ball under water. Eventually we know what happens.
$32.13@ oz SAE at provident now, thank you for the gift! buttnake can I have some more, please!
$31.67 at Tulving or Silver50. Lowest 2 on the net I've found...
Morning group therapy right on schedule, too.
<heart hug>
Slam it all the way to $26. Please!
C'mon $19 or so(again), "Silbah", I'm selling the dog at that point and going all in to build a liqueur cabinet out of coins!
If it goes that low, I'm taking the max cash advances possible on my credit cards and goin' shopping.
http://www.silverdoctors.com/comex-sets-all-time-volume-record-for-silve...
$1500 is a strong support level followed by $1400 which would be hard to break. Unless the gold crowd is front running a stock market crash. Silver shouldn't go any lower than $25. But then again this is all dependent on the equity markets which aren't going anywhere. PM's crash everytime with them I see this time as no different. Don't get mad, be glad a possible buying oppurtunity of a lifetime is coming.
No one has a crystal ball mind you. And some crystal balls would work much better if it weren't for the FED.
Of course what should've happened and what is happening is evident by failed patterns, time after time after time. This jenga market is now officially in orbit.
This is exactly what happened in 2008.
So if it happens again, this year, then the real test of pm investors will be whether they can HOLD (and even ADD to) their positions if gold falls to say, 1200 or even 1000. This month's dip is esy to buy. But will you have the guts to buy if gold---temporarily---crashes?
I will.
Didn't you know theres a bilg slump in gold and silver, sales are way off and the 12 year run has finished, soon gold will be back to 1,300 and silver below 20$
If its on the internet it must be true right?