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Silver Slumps To Worst Day In 2 Months As BofA Says "Sell Gold"
As CNY unwinds, Russia-Ukraine safe-haven bids, and Turkish Lira (erdogan corruption) concerns flood back into the USD as a safe-haven, precious metals have come under pressure this morning. Gold has been sold but remains relatively stable but Silver is suffering its biggest down day in almost 2 months ad the gold-to-silver ratio surges back up to ts 4-month average.
Silver notably underperforming Gold today...
With its worst day in 2 months...
Some have suggested today's weakness is also being driven by BofA's technical call to sell gold...
Time to sell gold
Gold is rolling over. The impulsive intra-day decline from today's 1345 high says that the trend has turned ahead of the confluence of long term resistance between 1350/1367. With the ADX at trend ending extremes, and daily momentum posting bearish divergences, target 1270, potentially long term triangle support at 1185.
Sell Gold at 1337, risking 1346, target 1270, potentially 1185
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Fonestar stating that this is only paper in 3... 2... 1...
Sell generously…
Many Asians depend on your help to transfer the center of economic power to the east.
SELL BITCHEZZ............I'll be waiting to buy MOAR
You'll need to buy much moar to average in that $50 price point
must be a war coming.
Banksters say time to sell? Okay.... I'll place an order today.
I am hoping for multiple days down in a row. I want sale prices like 2013 offered. Wait for it, wait for it.
BTFD.
'BUY! SELL! HOLD!' -GS, BofA, CS, DB, etc...
I care not what any of these Fuckshites offer up anymore.
funny, that down trend line isnt nearly as steep as the comex inventory depletion's
Silver is the best buy in history right now.
Inflation adjusted, is it a better buy now or in the early 80s and 2000?
I can't speak to inflation adjusted numbers. But when I made my first (and largest) purchases of silver in 1995, this price was $2.96/oz when all averaged out. I'm certain that inflation has been a bitch since then, but I look at the price today and I gotta think that I'm still ahead of the game.
Sure feels like it anyway.
Not that I care all that much about the price today, as opposed to when I originally bought it. Today it's a hedge, not an investment. Or so it would be, had it not been for that damn fishing trip I took a few years back...
Right. Because Greeks are so well known for their investing savvy and all. Were that your countrymen had been stacking silver for the past 5 years, maybe Greece could've told the banksters to f*ck off and wouldn't be dumpster diving for their next meal.
FUNNY... Bank of American called the top in Natural Gas too.. the day it got clobbered 11%. Just wait until we get the next 200+ Bcf drawdown of underground gas supplies out tomorrow. We are already down 40% compared to 2013 in NatGas storage... and the lows don't come until the end of March.
Anyhow, even though Bank of American says sell gold, we had record buying of Silver Eagles in FEB. Matter a fact, the U.S. Mint nearly sold out of its 1.25 million oz weekly allocation in two days:
U.S. MINT UPDATE: Silver Eagles Nearly Sell Out In Two Dayshttp://srsroccoreport.com/u-s-mint-udpate-silver-eagles-nearly-sell-out-...
No one holding physical silver is selling so the price drop is meaningless unless you are trding paper or buying physical.
Tick tock...time is running out.
"No one holding physical silver is selling"
This is the kind of nonsense that makes everyone hate gold bugs.
There are currently 250,000 ebay auctions where people are selling physical silver. That is one site. Apmex, Gainsville, etc are all selling their silver.
Those same sellers are buying too or they wouldn't have anything to sell. When you make your living buying and selling precious metals, you are always buying and selling precious metals.
I don't know if the silver eagle thing matters. If the price is manipulated then sales don't really matter (as reflected in price drop on record sales). I think what matters more is, when they spy on our bank accounts, how many are withdrawing money to buy gold/silver, and are they ordinary citizens. If so, the price must be manipulated either higher so they can't afford it or lower so they're scared.
Sales don't really matter? So this holds true for all corp's?
Do tell more, please.
Obviously not if prices had the worst drop in history on highest sales.
Cue, "it's just paper", and the circle of logic continues.
BTFD Bitchez!
Could anyone have expected less from these clowns?
And why sell?
What is the panic on your physical?
A B of A Bank run on physical in your closet?
wait.. but when people say the same with bitcoins in your own wallet vs an exchange....
must be wrong with something in silver too... price falling and all
Actually this price is only on paper, and does not reflect supply/demand/reality. Today, you can get real silver at the fantasy paper silver price and that's what you sell it at. One day soon, the fantasy shall end, and reality will have to be dealt with.
Don't tell me. You took the brown acid.
Thank you.
("Above all be polite" - Dalton from the movie "Roadhouse")
That movie was on last night. You watched it.
That's Greek to me. I'm not sorry you missed the boat...
PM's rolling over now, it's plain as day European banks had a fundraiser today. HAA bitchez!
I'm sure everyone was saying gold $1450 end of year just a few days ago.
Silly post
yeah sorry
I didn't think it was silly. Or perhaps, it's a coincidence that some banks (is this what you meant by "everyone") very recently talked up gold, then, miraculously, gold went up, now, inexplicably, gold crashes, and now, predictably, they talk it back down.
My stuff is still as shiny as Bart Chilton's head.
Wasn't it Citi?
http://www.zerohedge.com/news/2014-02-17/citi-bullish-gold-silver-contin...
Yeah by "everyone" I did mean banks and the like, I should have made that clear. I'm at work so can't spend hours posting or looking at Bukakke Tentacle porn (unlike Chilton).
You were junked irrationally. Some people don't understand that stackers must stack, and any stacker who would call himself a stacker welcomes price declines, because they are an entry or re-entry point (and who doesn't like a cheap entry), and that traders will trade, and any trader who would call himself a trader welcomes the downs as well as the ups, because the downs offer him opportunity; the ups simply offer him closure in following. Honestly, I'm beginning to look at "up" and "down" in much the same way a sailor might tack this way or that, the question of to trade or not is a question of current positioning, given that I know where I am and where I am going.
Exactly. A small cap silver miner I follow has doubled in market cap. in the last 2 weeks basically. Thats not your time to buy. A multi-day pullback is.
ZH is to me now, what the high school lunch table was to me as a teen, a place to vent my thoughts and bounce them off peers, and hear perspectives, most of which, even if I would agree as if they were my own thoughts, would never have occurred to me in quite the same manner as another would present.
Didn't say which year.
Or which dollar.
I said $1600 this year and sticking too it.. I'll sell you there since you probably wont buy until then
I'm calling 1470-1500 by thanksgiving.
I don't ever get caught up in price prognostication. It misses the point- - "price" isn't important here (2014 as a whole) as it hasn't been for years. Consistently adding ounces of gold and silver IS, period.
Buy what you can afford on dips, do it as often as possible. That's my personal PM strategy and absolutely nothing in ongoing developments even gives me pause, never mind any reason to deviate from it.
Tune out the noise, f*ck BoA and the rest of the banksters. Stack on.
Just because they wish to deny reality, don't mean I have to.
I bet that is what this guy did:
http://www.npr.org/blogs/thetwo-way/2014/02/26/282859414/what-a-rush-cal...
Make new friends, but keep the old.....
Gotta have kids to know that one..
They are pulling-out all the stops in the beat down now. They wont give up!! Keep stacking physical. BUY NOW!
i keep telling ya'll...Silver is the one their using to beat down the phony paper prices of both of the only 2 forms of real money as its the smaller of the 2...AINT NOBODY SELLING NO MOTHER FUCKING REAL SILVER!!!!
the fundamentals r still in place and have only strengthened since "the recovery" we were welcomed to back in 09'...
KEEP STACKIN IF U GOT THE DEBT COUPON DOLLARS TO HAND BACK TO THE FUCKING MONEYCHANGERS...
DEATH TO THE MONECYHANGERS.
Thanks moneychangers!!
I have more time to stack now since I am unable to dig it out ground for 5 bernake bucks.
I'm not only going to buy more, I'm going to take out call options on 3x inverse S&P index ETF's next month.
And I really don't care if I lose the money,because this shit really stinks!
BofA...Go Hang..
Registered gold - delivery notices this month = 274K oz. left at the Comex. March is going to be interesting.
Ahh, BofA. Yes. They surely know what they are doing and are making the right call just as they have done over the last many years with hardly any litigation costs or wrong decisions. Yup. We better listen to BofA. Can't go wrong following their advice.
You do realize retail flows influence absolutely ZERO in the markets space and the its the flows from the big boys that really matter...
... in the paper market that currently defines the price, sure. However, with ~300 million oz/year of new silver supply available for investment (~1 billion oz mined, - ~700 million for industrial, etc.) it doesn't take a lot of retail action at the physical level to start squeezing that supply pretty tight. Similar argument for gold - paper's only a bet on the price - which is fine until somebody decides to change the rules underlying the current debt ridden, corruption ridden global financial system.
Actually, that ~1 billion ounce annual supply includes recycling --- annual mine production is still only around 750 million ounces of silver.
Good point, thanks.
one thing i have always wondered is since that large percentage of silver is used up in various industries, making electronics, etc, which makes up nearly 3/4 of demand, would a large worldwide depression type event, in which people have no money to buy anything but basic neccessities, wouldnt that cause a drop in demand, and therefore price, of silver? cuz that big depression looks pretty likely, if we arent pretty much in one already
Got MERS?
OR ....
It is the typical sell off post comex expiry .... happens about every month!
Yesterday the setup was obvious. Gold up, miners down. So today gold/silver down. Easy money.
Watch for miners to level out ... rinse cycle repeat
Plus dollar up today so gold...
Another concerted attack.
They really are scared.
Some useless TA and a major corrupt bank call for lower prices are the least valid reasons for a drop in price.
Bank of America, continuing criminal enterprise....or.."Fuck you, Bank of America". My harsh view...
TA has to say SOMETHING that passes for work.
Yes, but the result of their words give me the most valid reason to buy.
Gotta live in a half full kind of life.
Technicals, gold, heh, thanks for the laugh.
I would rather take advice from my cat than Bank of America. Kitty says to go long Purina. I'm in for 1,000 shares and kitty gets two cans of Liver and Egg with gravy. Mmmmmmmm
New meaning to the expression "pussy whipped".
Liver and Egg - CD does your cat have the shits permanently? ;)
The GMO fillers and Gluten glue stops up Kitty just fine.
I see how you are CD, the good stuff for you, Mrs Cog etc but kitty gets the GMO shit?
Looks like I need to call the ASPCA
/sarc
I'd be worried about silver dropping not due to PM demand, but rather a big signal of manufacturing slowdown.
You completely discount remonetization then?
Sure the paper side...but not physical. Of course no small part is simply pure manipulation.
Look at BDI and HARPEX.... Not showing a pretty picture.
BDI:
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
HARPEX:
http://www.harperpetersen.com/harpex/harpexRH.do?timePeriod=Years2&&data...
Dropped below the 2 yr average. This trend continues and it won't be the weather....
Silver is a major component of Hellfire missiles. Hedge accordingly.
Which, btw, are not fired from helis any more. Predator drones.
BTFD!
we few, we happy few, we band of silver holders . . .
awesome news
BofA bought Countrywide of their own free will. Need I say more?
Beside, I dont buy and sell gold. I buy it and hold it.
mozilo is still laughing about it
When the government says buy, I suppose one must oblige.
Wasn't a few days ago the best day in two months?
So basically volatility is what we are talking about, which is exactly what a tail wagging dog environment where some derivatives can control and manipulate to increase the volatility.
Bank of Amyl Nitrate would like to get long here, please sell you gold.
End of the month,paycheck time,nice discount,buy silver.
rinse and repeat.
Thank you very much.
If BofA keeps this up, I wouldn't doubt the assets held in the Bank of My Mattress aren't greater than the actual assets in a small BofA branch... Granted there is the risk that I lose it all hiking around the mountains with my cans of booty (don't own a boat). I will have to accept this risk.
This happens EVERY damn month the day or two AFTER Options Expiration. The crooks attempt to scare those who converted options into contracts and who might stand for physical delivery.
It will be nice if just ONE GODDAMN MONTH ZeroHedge would INCLUDE what is actually happening in their missive.
karen hudes says there is 170,000 tons of gold laying around and that gold is driven by artificial scarcity..(usa watchdog episode several weeks ago) she has also been saying that consistently.
i agree with no ongoing industrial usage above a certain threshold gold needs folks to think there isnt much around to be had..
silver is being consumed in small amounts by millions of products which is lost to landfills and recycling cost prevent large scale recovery and salvage.
with no burn rate other than those who wish to have some in hand gold has fewer good reasons to be held over silver in the long run. the current scheme to lower prices cannot drive silver below the market cost for long as current upward bounce has shown..
the moment industry starts back up in any form over today's intentional idling of production silver will jump. not the same for gold which may have a multi thousand ton overhang watiting as a sword of damaceles at worst or a failing set of buyers and no industrial application to suck up the excess supply.
arbitrage and financial derivation aside, gold is actually in a worse spot than silver going forward and that was not always the case......
imho
Here is the long-standing question that I have had, and posed, with never an answer in ANY forum, regarding the presumed (downward) official manipulation of the prices of gold and silver.
If the prices of gold and silver have indeed been driven below where they would have otherwise been in a free market for the last couple of decades, and during the last several years in particular (and I assume this to be the case), one could argue that such a situation, even in silver, could be maintained in the short or medium term due to the relatively large aboveground stocks of both metals, 50 or 60 years' worth in the case of gold, a decade or two likely in the case of silver.
HOWEVER, the same is apparently NOT true at all in the case of platinum, the aboveground stocks figures that I have seen over the past decade indicating that there may be and have been, at most, a year or so of annual mine production available at any one time, certainly not enough to buffer any multi-year price suppression (and don't forget, the VAST majority of all platinum produced goes to industrial uses, with only a tiny fraction being held for investment purposes). Yet the price of platinum HAS fallen, and mostly mirrored the price trends of gold and silver, not just for the last several years, but for more than a century.
So if the prices of gold and silver are artificially low, how has the similarly, and presumably, artificially low price of platinum not led to obvious shortages of that metal, and a price decoupling long before now?
Anyone? ANY comments on all?
How can this incongruous phenomenon generate NO interest at all among those who follow the PM scene? It completely baffles me.
Is there a fractionally reserved "paper platinum" scheme in place?
That is a very good question, but I am not sure.
Regardless, though, since almost all of the platinum annually produced is used industrially and NOT held as for investment purposes, I believe that my original point still stands: how has the (presumably) artificially low price of platinum over the last several years, as its prices followed the price trends of gold and silver, not led to an obvious supply shortage of that metal?
My general assumption is that platinum price follows US car production (which is the closest indicator we get for sales of catalytic converters, as 95+% of all cars built in the US are gasoline powered and also are required to have a catalytic converter.)
Good point, Malek.
So the suggestion here is that the prices of gold and silver have in fact been manipulated downward, while the price of platinum has coincidentally fallen due to other, market-related factors which just happened to roughly mirror the declines in gold and silver. That could very well be the case, and was not something that I had immediately considered. Thanks.
Coming to this discussion a bit late... and what I'm about to offer is completely unresearched (having to write this in a hurry) but didn't the Russians have a large stockpile of Pt that they've been selling off since the collapse of the USSR? And this has been suppressing the price? And this stockpile is (reputedly) running low now, though no 'official' figures exist?
May be thinking of some other platinum group metal; in which case, my apologies...
BigJim, I think you may be thinking of palladium here. As far as I know, the Russians never had, or claimed to have, or were suspected of having, any inordinately large stockpile of platinum
good point....
most of the gold not shot into space in a sattelite or spacecraft is still on the earth.
subtract hoards lost to time(found one est.10million just recently i hear) and there is our above ground supply and basic format to the gold market becomes sentiment driven..
silver and paltinum and a host of rare pure metals simply reflect the reduction in manufacturing demand slumping due to global depression(yup i said that) so little competition for supplies in macro model of markets show true state of economy(better than caterpillar orders i say)..
just as a thriving middleclass drives real inflation a hollowed out population of low income workers actually help to control inflation. (make sure food inflation is hidden and it is a perfect de-industrialization management model.. ) quite plain and simple to my eyes and ears.
poor folk dont compete for tesla cars and G5 aircraft and poorer folk dont know what those items are so go with whats factual and that will answer your questions...imho
Supply and industrial demand are roughly matched and monetary demand is negligible. Actually though total supply and demand demand figures need to be looked at in terms of actual numbers as well as hypothecation/leasing information. This does not make the news like gold and silver so it would take a lot more work to dig out. Just my thoughts.
as a nation of dirty dealers it would serve our interests to load up china on gold and then "find" a giant stash as karen hudes claims is out there... perfect setup
she's said nothing I haven't seen before but her way of saying it sounds nuttier than a fruitcake so I'll pass.
The particular attention paid lately to silver indicates, at least to me, that TPTB are running scared, and that silver truly is the canary on manipulation life support. Why else would JPM have a stash of 200 million ouces in its proprietary account. When the timing is right, i.e the coming USD devaluation, JPM will raid SLV and leave the sheeple investors in this scam with a cash settlement of 50% (or less) value.
how many years you been saying this??? 'when the timing is right...'
just hold some PMs for when the dollar drops but that won't be a 'fun time' since everything else will soar... but if you were wise enough to grab bitcoins last year and sell into the frenzy you would have 10x your stacks...
play the markets not your heartstrings ok? Is this some holy shrine site of metal?
Buying BTC between $40 and $100 was considered a speculative gamble by myself, so no regrest, because there had already been massive volatility up to that point. If you got in for less than $10, I imagine most would have sold long before it hit $100, never mind $1000!
With gold/silver, worst case scenario you will be left with jewellry.
In the past I would have commented in a saucey manner. But, I really don't care what BofA thinks, or if anyone takes their advice. The final outcome is just a matter of dwindling time.
Re; The final outcome is just a matter of dwindling time.
So true, give thanks for every "normal" day We have. At this point every day is a gift.
- A dispirited Cassandra.
That's just their advice to clients. The bank is on the buy side.
And guys, we do have a headwind this morning with the dollar up on a "safe haven" status. Now that is funny. This is actually good for us. Weak holders all leaving and that leaves.....Us. This will work out just fine. Stay the course. Go do something else today.
If you think GS' muppets are stupid, imagine BoAs.
Usual End Of Month
Gold Futures =Last Notice & Last Deliver = 2-27, 2-28
One sized does not fit all. IMHO, whether you buy or sell depends on your own Master Plan and where you are on the road toward your goals. For proper Asset Allocation, the FAQs you need to ask (yourself) are:
A. How much of your overall assets do you need in gold? IOW, where in the 5-20% range do you want/need to be?
B. How much of that do you keep in bullion (for a long-term Buy & Hold strategy)?
C. How much for pure speculation (paper gold) in what still looks like a Sideways market (up+down, pump+dump cycles), where only the middlemen profit from fees, commissions and margins?
With advice/PR from both extremes (perma-bulls and perma-bears), it's difficult to get an accurate and robust picture, but using Asset Allocation principles usually does the trick -- for those of us (the 99.9%) who don't have Insider friends at the big Prime Dealers who manage our portfolio and do perfect timing of buy+sell (per yesterday's ZH posting of deleted FT article on PM manipulation).
I have long utilized Harry Browne's Permanent Portfolio strategy, which is equal parts stocks, long term treasuries, cash/short term bills, and gold. This covers a wide variety of potential scenarios. This strategy does involve a 25% allocation in gold, which for some reason makes me a "gold bug" in a lot of people's eyes, but I see it as a pretty normal/rational allocation. It would be interesting to see a scenario in which everybody followed this allocation.
When the mainstream paper-pushing investoriat said "sell" that simply allowed me to load up again this morning on my favourite small silver producer at a much better price.
Do they REALLY think they can kill silver forever...? F-U-N-D-A-M-E-N-T-A-L-S
Name of said small AG producer?
Sure. Great Panther..."GPR" on the TSE. Wonderful volatility too!
GPR is the dregs of Silver miners. The amount of options management flips is staggering. Switch to a better miner.
Sorry. I like the volatility - and the management. And the ridiculous low price. And the production profile. And the volume traded...and...and...
Try ASM too.
Just out of curiosity, what type of silver do my fellow ZHers tend to lose the most in a boating accident? Bars ? Coins ? Jewelry? Any preferences? And if so, why. Would love to hear some opinions.
bullion only...coins have too much value driven by sentiment. "yes i know that is a rare historical coin missing some part of the image or was held by julius ceasar as he died...etc...etc... but how much gold or silver does it contain? if it was left to me i waould have already melted every fancy grade coin down just to hear the wonky collector cry foul and stack the lumps in plain sight so everone would get the idea silver and gold are only worth what its worth as a metal and the trading card and bubblegum types can go to mt.gox for cards and pewter figurines to hoard...lol... yup i said that..
Hmmm... interesting. People keep talking about why going boating with (and subsequently losing) Eagles is WAY better (and subsequently much worse) than with bars. I don't get it.
Easier/more productive to coat a bar of tungsten, than a sliver of tungsten.
You obvoiusly havent been to Alibaba.com to see all the fake ASEs and leafs you can buy for $1/each. Sum Ting Wong with these.
http://www.alibaba.com/wholesale/search?SearchText=silver+eagle&pid=1360...
Those sneaky litle fucks havent copied my Silvertowne Buffalo bars yet.
In a SHTF/currency collapse scenario, triple 9 bars and triple 9 coins are equal.
Nobody cares abouth the exagerated premium you paid for a walking liberty, maple, kook, etc and nobody is going to pay a premium for said coin.
I only buy bars, but I have traded some goodies for Eagles.
Nobody on ZH has any Silver/Gold anymore. They All sold locally, and declared their losses.
Besides its not polite to ask others about their finances. ;)
:)
Notice that I was only asking about people's losses due to boating accidents, and not necessarily their personal finances. I think it's okay to commiserate about unfortunate losses while boating! So there ... now what do people tend to lose most?
if all you care about is the metal content(like me), buy the cheapest generic bars you can find, either from a local shop where you can pay cash and carry, or from silvertowne.com, which is the cheapest place ive founbd online unless you are buying a shitload at a time. i quit buying the actual coins a while ago, they are overpriced if you just want the metal, and i don't care for the notion of any countries treasury making money off my stacking. Having said that, i have bought a few graded eagles for numismatic purposes, mainly for my infant son, figuring maybe they will be worth a lot more when he is my age or older, but i dont spend much on those. Stick to the cheapest you can find legit bars. If you want to make sure what you are buying is legit, you can get an acid test kit off amazon for less than 15 dollars online. The acid never lies. Ive never bought any fakes, but it never hurts to check when you are buying from a new place. plus, it is educational to learn about it. best of luck
of course the miners have refused to go up with gold or silver the past 2 days, but have amplified any decline.
The Miners on average were up 30% on the year, clearly due for a rest.
By that logic we could just as easily say that "the miners have been beaten down for 2 1/2 years and are clearly due to soar".
They did soar for several weeks. You can always count on pullbacks in the metals, they look again good, finally. Its just the pre Fed Meeting adjustment, caution inlflation fighters at work.
When they soar substantially past the previous highs, THEN you can maybe say they're "overbought". According to fundamentals, which is probably all a long-term saver/investor/capital preserver should follow, the previous high prices were entirely justified.
They are are "underbought" and pulling back...go figure.
Production costs have done a good job of keeping up with the metal prices....unfortunatley. Miners turned out to be less than a slam dunk, who thought production cost would be where they are today.
SLW, FNV, sharply out-did the flat metals in the past 12 weeks or more, it's hard to say they did badly in light of their business and the metals themselves.
Round eyes say sell... Mr Wu...says buy all from cock suckers!
According to the amazing person who draws the "trend lines", something can never break the trend and go up.
By the way, interpreting signals from a manipulated market?
These clowns are manipulating the SEMAFO stock in Sweden, a canadian gold mining company.
Their manipulation is so obvious, it is ridiculous.
Fuck Skank of America.
The fundamentals (war, currency devaluation) for gold are fantastic.
And from a technical POV, were still above the 200 day sma.
Buy, Buy, Buy!! (and don't forget to take delivery!)
Everybody MUST be pushed back into the Equity now.
Gregory Mannarino: Pump and Dump Wealth Transfer Coming Soon
George Soros holds now 1.3 billion rolling Put on the market to protect his long positions. How long this levitation in the markets can continue? Nobody knows for sure, but this interview gives us a very good food for thought. Gregory expect the serious correction starting within next few weeks, when money after initial drop will be reallocated into Commodities, Gold and Silver. Big banks are already shorting the market and it will create the Pump and Dump Wealth Transfer again. So far market was playing along the Toby Connor's scenario: with general equities topping in the last move up into the late spring of this year, Commodities are breaking Up and Gold and Silver are going much higher. http://sufiy.blogspot.co.uk/2014/02/gregory-mannarino-pump-and-dump-weal...
How did they know I needed a few more ounces?? God bless [Bank of] America!!!
Can you take it down farther?
Minimum wage doesn't leave much after real inflation.
http://www.youtube.com/watch?v=ByT0FErPgfQ
Let's see...troubles in Kiev and Turkey and the BOA calls for selling off gold.
The response is gold drops some but resists while silver plummets.
Was the BOA using reverse psychology?
Answer: No, silver was manipulated. Gold was also manipulated but the real world resisted.
February Contract for Gold and Silver is Closing. That is the reason for the "smaskdown". People are closing out positions.
Bank of America knows this. So they time a Propaganda Release to coincide.
Thanx. I just bought a Gold Maple and some Silver rounds. These prices are GREeeaaaaT!
Buy 1 Oz of Silver and 1 Oz Gold Eagle and hold it in your Palm and enjoy the Bueaty. You will never give up on this investment in your lifetime.
BTFD opportunity. It's great when the idiots panic sell because some talking head at BofA tells them too. Sell because of the bad weather, QUICK! I wonder what they are going to blame the bad economy on in spring? Flooding? Probably. Summer it will be drought and fall it will be the leaves falling off the trees. LOL. Buy the dip I hope it goes lower so I can stack some more CHEAP.
if any TBTF bank, BAC, JPM, GS, etc., C, says "sell gold" you know they're buying it hand over fist and want you to have none.
Stay frosty & .9999 fine