Silver Slumps To $19 As Precious Metal Smackdown Continues

Tyler Durden's picture

The overnight session was relatively quiet as precious metals trod water while equity markets tumbled. However, as the US equity cash session looms, silver and gold are coming under renewed selling pressure (and the USD bid) in a seeming effort to provide some rotational bid to stocks into the open (just like yesterday). This is the lowest for Gold ($1218) and Silver ($19.01) since July.


The Asia close, Europe open and US open appear opportune times to dump all your precious metals...

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Mark Carney's picture

Boxing Day Sale!!!!!!



Born Patriot's picture

The only problem I have with gold and silver enthusiasts is that many of them view these metals as a replacement for our national currency. I've got no problem with gold as an investment, just don't try to undermine our national currency.

Max Damage's picture

Ben and Obuma have already done that one

fonestar's picture

Silver is doing what BTC is doing (just behind the scenes), regardless of what they say the price is.

quasimodo's picture

Did you fall and hit your head?! 

EnslavethechildrenforBen's picture

Visiting bullion dealer a few minutes ago, a mine owner walked in and paid cash for a hundred thousan ounces of Silver, said it was cheaper than mining it...

AllThatGlitters's picture

The current bounce in price is a little more "V-like."

Live Spot Silver Chart:

And Gold is actually green now:

Live Spot Gold Chart:

This was to be expected because yesterday I chickened out of buying the dip for a change.


Al Huxley's picture

You've probably got at least until the end of December to buy the dip, and I'd bet the prices are going to get better before they start rising.  There's NO incentive for the manipulators running this market to let it rise at this point.

EnslavethechildrenforBen's picture

Except to buy low and sell high when it peaks next time...

fonestar's picture

Silver could go to $5 or $10.  They control the exchanges, they contol the dollar, they control the markets, they control miners, they control the media.  They have proven themselves to be suicidal.

I guess that only matters if you care about them and care about their dollars.

greatbeard's picture

You're kidding yourself if you think they can't kill bitcoin in a nanosecond.  Them moment it poses any real challenge it's history.

fonestar's picture

That's a pretty bold statement, one that is easy to make (for someone who doesn't know what they are talking about).

It's not just the Bitcoin but I wonder if some of you really understand why you are buying silver either?  Sounds like most of you are very much under the cartel's dollar spell.

Ghordius's picture

I disagree, and I have to give greatbeard a +1

BitCoin does need the internet, to a certain degree. and devices. and, as all currencies, trust

plenty of ways to curtail, restrict and undermine - if wished

nevertheless I don't think it will be touched, and I still suspect that the NSA is completely innocent, this time. meanwhile I would not wonder at all if a lot of BitCoins would not be in the hands of secret services worldwide. If I was a head spook, I'd love a cryptocurrency, it opens a huge pontential for black funding

fonestar's picture

If I were the agencies I would be trying to get keys from existing users (like DPR) rather than driving up prices in the open markets.  At the end of the day the agencies are just another node on the network, or as someone recently put it...

"On the blockchain nobody knows you're a fridge".

EnslavethechildrenforBen's picture

Bit coin should be renamed moron coin. How can a fucking electron be worth $10,000?

fonestar's picture

There is no use trying to explain systems to simpletons. 

tmosley's picture

How can a shiny rock be worth $1230?

Everything is worth what its purchaser will pay for it.  Bitcoins are in demand (aside from any mania) because they allow users to bypass currency controls.  That is their number one use, and the Chinese are using it for that reason now.  THAT is likely the reason the price has exploded.  I don't know anyone aside from myself and few people online who have bought even a fraction of a bitcoin.

greatbeard's picture

>> (for someone who doesn't know what they are talking about).

The question is which one of us? You presume to know the answer.  A little self doubt would be the prudent thing, but I'll let you boldly blaze your trail of omnipotent investing knowledge. 

fonestar's picture

I feel pretty confident there is little they can do about Bitcoin without destroying the entire internet as we know it.  Not to mention managing the unintended consequences of such a foolhardy attempt.

riskprice's picture

Oh, they'd never outlaw accepting it as payment ......oh, wait.

EnslavethechildrenforBen's picture

Only a complete moron would accept an overvalued electron for payment when it could lose all of its "perceived" value in a microsecond

TheHound73's picture

News Just In: Gov't bans electrons.  This coming on the heels of Gov't ban on numbers last week.  What is with it with these evil intangibles that have our annointed leaders in such a fuss?  Our readers want to know!

fonestar's picture

At best they (barely) control geographic regions as defines by solid and dotted lines on a map.

silverserfer's picture

that statement righ there shows how truly naieve you are Pftonestar. Your are a lackey for the digital ponzi. Part of a botnet. A tool of your digital masters. Programed to the T. Priceless. 

fiftybagger's picture

If they can kill Bitcoin in a nanosecond why can't they kill bitorrent? Because they can't.

EnslavethechildrenforBen's picture

You don't think so? They can do anything they want.

tmosley's picture

Why don't you start a church to worship your savior the government, since you seem to think it is a God.

Why do ANYTHING they don't want you to do?  They are Gods, and will surely smite you for your disobedience.


CharlieSDT's picture

Dude, they can't even build a website that works! 


For those of us outside of the USA (and not in a place the USA is bombing) I'd say our chances of being able to outwit these retards is pretty good.

Crash Overide's picture

"You're kidding yourself if you think they can't kill bitcoin in a nanosecond.  Them moment it poses any real challenge it's history."


What if "they" are the ones running the bitcoin game?

greatbeard's picture

What, you think "they" running it precludes "they" from destroying it?  Free clue, it doesn't.

fonestar's picture

I won't even take that as a serious question.  Yes, it is perfectly plausible that eveyone trading virtual currencies on the largest exchanges around the globe, all of the client downloads, all of the dev teams are by people in the employ of intelligence agencies.  Perfectly valid concerns.

fiftybagger's picture

You are correct fonestar.  This one is for all they marbles and they intend to burn the theater down with everybody inside.  Physical gold, physical silver, and offline crypto wallets.  The only investments worth buying right now.

The Bitcoin Channel

Silver For The People

Kirk2NCC1701's picture

Are these the same guys who fermented a silver bullion panic last spring? Cause I got a few Monster Boxes of silver to sell him at those hyped-up prices, when "the sky was falling".

I also recall getting caught up in TEOTWAWKI, one year ago, when we all paid an arm and a leg for the manufactured crisis for Guns & Ammo. Have you fuckers looked at the bargain prices lately?

What's that saying again... "There's a sucker born every minute."

Accept that "In a world where EVERYTHING of economic or political value can and usually IS being manipulated, so too the Bear/Doomsday markets and people are being manipulated."

// Unless you believe that you're so (fuckin') "special", that opportunists and snake-oil salesmen respect you and your values too much to 'manipulate' you out of your cash. // sarc

Hedge accordingly. In the future, I suggest you buy whatever you value when there is no "crisis", so you can get better selection and prices, and sleep better when others are freaking out.

Bay of Pigs's picture

WTF are you yapping about? You sound like a whiny little bitch to me.

Man up, figure it out and quit blaming others for your own actions.

Kirk2NCC1701's picture

Assuming that you can actually think (IQ > 100), you may want to re-read what I wrote, before you get all emotional/aggressive in your response. 

All my statements were factually and objectively correct.  My subjective remarks only serve as examples and reminders of what happens when we ignore basic rules of investment, and allow ourselves to "run with the crowd".  Even the "ZH crowd" is not immune to 'manipulation' -- given the double-digit losses in Au+Ag, versus the double-digit gains in stocks (2012-2013).  I don't like it one bit more than you do, but it's the frikkin TRUTH!  And surely you, your friends and the Tylers can handle the truth, right?  / Or are we now peddling 'economic religion' on ZH? /sarc

ALL I'm advocating (using my own experience as but one example out of millions out there), is (a) that none of us are immune to being hood-winked or manipulated --and clearly we HAVE been -- and (b) the best/only way to prevent that in the future is to stick steadfast to fundamental and time-proven principles of Diversification-as-risk-mitigation.

Surely even you 'get' that?  Sheesh!

Banjo's picture

I have no sympathy for people that go all in. My hoped for investment return is 0% over 20+ years.


I'm still accumulating a long term postion in Gold and Silver, also plan on starting to get some exposure to cryptos. Definately not all in and unlikely to pick up any Bit coins at all seems like alot of good alternative currencies out there.


I am also mindful the government can jack up property taxes, steal bank account money, confiscate gold, meddle in crypto. So my defense against this is to try and live and enjoy each day as much as possible. Thats something they can't take from you.

Chump's picture

I dunno man, reading this post (and a couple others of yours in a similar vein) just makes you seem bitter over a perceived hoodwinking.

You still have the silver, yes?  Why did you buy it?  As a trade?  Dumb dumb dumb.

You still have the ammo, yes?  Same as above, did you buy it as a trade?  Are you aware that the last remaining lead smelter in the U.S. is closing shop thanks to the EPA?  Obama did promise that he was working on gun control behind the scenes, and here he is, actually true to his word for once.

Now all smelted lead will be imported, obviously raising ammunition prices and probably bringing the Arms Trade Treaty into the picture.

Regardless, you're ranting into the mirror.  You should be considering your long-term goals and what you think the socioeconomic and political climate will look like over the timeline you're considering.  Instead you seem to actually be complaining that you made panic-driven decisions based on the fear-mongering of others, and that's nearly always a recipe for disaster.

But again, you still have the guns and ammo and silver, right?  If so, take heart, you're way, way ahead.

Hayabusa's picture

I have to assume this story is rhetorical.

fonestar's picture

"Did you fall and hit your head?!"


How is that fiat mind control working out for ya?

Trimmed Hedge's picture

Don't forget about the shipping!

DaddyO's picture

As an investment, PM's suck!

As an eternal store of value, they are peerless!

Just remember, we all will return to the dust we came from, gold will be here long after that occurs.


nope-1004's picture

I stopped "investing" a long time ago.  People who can't see the writing on the wall call PM's an "investment", because that is the current way banksters have defined them with their ETF pumping machines.  The average persons phychology and definition of real money is terribly altered, which is why the US dollar is thought of as hard money.

It's a paper derivative of the government.  If you have confidence in Osama's government, stack dollars.

But be assured collapse is coming.  Choose which side of the boat you want to be on when it comes (dollar denominated vs hard assets).

Kirk2NCC1701's picture

Before we all OD on Doomsday Kool-Aid or pull a Jonestown, it might be more useful to replace the word "Crash" for "Reset".

A Crash suggests little control by our Oligarchs. In a Reset, they control the Horizontal, they control the Vertical. So to speak. And NONE of you, not even the Tylers, know what TPTB have actually in store for us in terms of "The future of Money".

Oh, we might all have some clever ideas, but remember that "The Devil is in the detail".

Speculate, spout or hedge accordingly: DIVERSIFY, or 'die'.

somecallmetimmah's picture

"And NONE of you, not even the Tylers, know what TPTB have actually in store for us in terms of "The future of Money"."

That's precisely WHY we're buying precious metals.  Silver <$20/oz is what's known as a "bargain price".  The last time I bought bulk-bullion silver it was ~$14/oz.  I'd say it's time to load-up again.

Jaspergers's picture

It's actually the other way around. This "national currency" is a crappy replacement for gold and silver. As a patriot you should know this. 

Born Patriot's picture

This is exactly the kind of thing I'm talking about. Our national currency is issued by our Federal Reserve bank - what does gold have to do with our currency?

Max Damage's picture

A currency must be backed by assets. Obuma has continued the good work and bankrupted you, and Ben has increaced the toilet paper in circulation which then requires more assets to back it. Gold is a world recognised asset that can be used to back the toilet paper. Without asset backing the currency is utterly worthless