This page has been archived and commenting is disabled.
Silver Slammed As 'Someone' Dumps $1.4bn In 'Paper' Gold Futures
Following "good" Housing data, "bad" CPI data, and "ugly" wage growth data, someone decided to dump $1.4 billion notional in gold futures markets (sending silver plunging also)...
Sending the price to 2010 levels...
Some context...
We are sure the Chinese will be very pleased to back up the truck a little more.
»
- 71535 reads
- Printer-friendly version
- Send to friend
- advertisements -
Just waiting for that comex default.
Nobody's taking delivery. Why would it default? Better, why would you take delivery?
It wasn't their money.....and they'll be walking in later to pick up the cheap gold.
It's an old Rothschild's trick.....tested and true.
mmm...it may be that China's actual mining/production numbers are leaking out.
i vaguely recall that silver production was more a byproduct of copper production, and if so, shouldnt the collapse in copper lead to less silver? maybe i am wrong, or maybe the effect was smaller than i recall.
Love it, keep driving the price down...
Metal is on sale today!
Papah dolla fo papah silver
Yes, I can't recall the percentage of silver production that is a byproduct of copper production but it is large. This offsets the drop in industrial demand for silver as the world economy slows down. Again, I don't know all the numbers but it's a large effect.
This is also why the paper price of silver can go below cost of production (and has) without causing miners to go out of business or a metal shortage (although we are on the cusp of one anyway). It will keep coming out of the ground regardless as long as copper is profitable enough to warrant it. If copper does not recover, silver may finally get a boost from the physical market.
"Someone"??
Let's see, could it hav been, oh 'I don't know, could it have been . . ..
Putin??!!
Nobody's taking delivery.Why would it default?
Fair Point. Can't argue with that!
Better, why would you take delivery?
1. Because Holding it is owning it, and
2. To see CRIMEX default.
This idea is why the ETFs keep leveraging out further and further in their ratio of physical to shares outstanding. We'll just have to watch and see how that plan plays out...
china's ONLY taking delivery
PM's Long ways to fall still.
Sorry folks .........................Markets just doing their thing
What goes up must come down
What goes down then goes up
XAU XAG
You think fundamentals are at work here??? hahahahahaha
@kill switch
Look at a graph it's going left to right .............................down hill
The shorts are wining............................until they don't.
PS the fundamentals have been working for many years.................................it will go back the other way
Just not now
"Free Beer Tommorrow". I went everyday, but everytime I walked in the next day the free beer was always tomorrow. That's what the commodities market are now.
0 is about as fundemental as it gets.
ZH should put a graph up on gold and silver
you know the ones with the big red arrow ........................if they did you will see it's going down................
If peeps don't like the facts.....................why come to ZH ?
They don't want to let go of what they've been programmed to believe has value. Their are only two ways it can be done after a certain point. Like Cyprus and Greece to slowly shake people upside down. Or the original way it was going to get done and the usual way it gets done, big space rocks peppering the surface of earth at the end of a interglacial. We all know which tribe lied and hid the lion's share and that's why their lion is staying on ice permanently. There was a large decrepancy between the publical listed availability, and what was actually mined.
So when I say get some BitCoin and start developing an economy with it. I really mean, get out of the way because they are back and pissed with the shortfall plus the tungsten content of some of the shipment. Clean hands is what people should be looking for after the cycle handover. They'll tear the fillings out of your mouths and pull the rings off women's fingers if it comes to it, plenty of myths, stories, tales and bits of history around the world to confirm.
Because they on the way back to collect for the second time now that their bean counters are done, and whoever is in charge of earth is in big trouble for the oversight.
uhhh..., what?
By November, 2015, the price of Gold will be at a little above $1000 and the price of Silver will be at roughly a little over $10 for a GSR of a stunning 100 to 1.
The Dow Jones will have collapsed as well as the NASDAQ and S&P 500 and we will be in the depths of Credit Freeze II as the Derivatives Markets will have failed in September.
Cash will be King, although by November that will have begun to ebb somewhat as the Fed's printing of Physical Dollars combined with the divestment of Physical Cash from the vaults of Foreign Central Banks will have alleviated the shortage of Physical Paper Dollars by that time.
The shortage of Physical Paper will be a direct cause of the failure of electronic banking as the faith, trust, and confidence in the solvency of other banks by other banks will cause the shutdown of the Credit Banking System. The only alternative to electronic banking is Physical Cash and there is just not enough of that to lubricate this economy. People will be selling everything for nothing in order to get those Paper Dollars...FOOLS!!!
Of course, with the Fed's overreaction of printing cash combined with the divestment of the $12 Trillion of Physical Cash held in Foreign Central Bank vaults, then a Hyperinflationary Inferno will be certain to follow throughout 2016.
At that point you will be a fool to sell your Precious Metals at ANY PRICE.
This Hyperinflationary Inferno will absolutely destroy the US Dollar as a viable currency and the IMF will step in and replace the US Dollar with the SDR as the Reserve Currency in order to attempt to restore some semblance of confidence into the World's shattered Financial System. This will also fail as riots due to shortages will cause vast destruction of the major population centers along with the supporting infrastructure.
We are well past the Event Horizon, have crossed over the Rubicon, and are well into the abyss of civilizational collapse.
Buckle up, folks. It will be an interesting ride.
TT, Just curious, do you think physical PMs will be available at those predicted prices, and where do you see oil at by Nov. 2015? Thanks, BT
That my friend depends on what other fun and interesting phenomenon befall the global economic system at that time.
I agree you make a good point, when you effectively invert the supply/demand price relationship you will see shortages.
Keep stacking on the way down.
Yes I do foresee Physical Metal available at those prices as people will be scrambling for cash...to fill up their Gas tanks, put food on the table, and keep the lights on.
My prognostication and forecast for Oil is at $20/bbl.
It is not just the USA that will be scrambling for liquidity.
Every single other Foreign Bank will also be experiencing the ravages of Credit Freeze II also.
Thus they will be divesting themselves of their reserves to get needed and required goods and services to provide for their Governments and their populations.
The lack of Credit will cause gross distortions, a lack of liquidity, and they will be forced to divest themselves from their reserves.
As there will be a lack of liquidity the first phenomena that will be experienced is a profund decline in prices for everything.
Of course the overreaction will be massive printing of Physical Currencies (Dollars, Euros, Yen, Pesos, Yuan, Rubles, whatever) and this will lead to Global Hyperinflation in the following years ahead.
Well, maybe I can ride it out and work it to my advantage, as I'm debt free other than a tiny mortgage and some tax shit (which I'd love to pay off with hyperinflated/worthLESS $$). Most things I really need, I currently have.
Perfect, as long as you keep enough physical cash on hand to pay bills and keep stacking you will be set. TT is spot on with what will happen. Everyone got a preview when the Chinese markets started to collapse and PM suffered due to sell-offs of everything to cover margin calls. Will be worse by magnitudes if global markets, real estate, and especially bonds and derivitaves all collapse together. Ask people in Greece what physical Euros are worth right now. In a credit crisis, liquidity is King. Stay liquid my friends.
IMO, gold/silver will *always* be available not matter how low the paper prices fall. It just is a matter of how much premium the seller charges over the paper price. That is what to watch.
That is why I have over a years supply of freeze dried food and several thousand rounds of various calibers, I am ready for just about anything at this point. Pb, Au, & Ag are your friends...
Now let's take a look at a 500-year chart comparing gold against all fiat currencies.
In other words....keep stacking.
Only 10% until MAJOR support. Not a long ways by any measure.
Edit: And it won't stay there long. No one is getting bottom tick on this when it comes.
Stack,
A little more info please? Are you saying another 10% from $ 1137 ($1023?)
and are you calling for a vicious rebound then?
Yes - it was resistance for a year and a half. It will bounce pretty hard from near that level, probably intraday as many capitulation moves do. Not sure where that bounce will go, there will probably be a retest, etc. But it will probably be where the bottom of this decline will happen. I personally don't get too caught up in price as I don't trade this stuff. I just like to get my hands on it cheap.
Stack
Hope the resistance holds.................................all the resistance lines since the top have not held....................but who knows
The trend is your friend......................and the trend is down...............untill it is no longer.
Exactly why I try to have some dry powder handy. I do think this support is much stronger than anything on the way down so far.
Arrow-up and agree, XAU with regard to PM specific 'market' price trends. However... When the worm turns this time, 'profiting' from any upside potential in PM's is going to be the last thing on any (wise man's) mind. Stated differently, the more 'surreal' this 'market' becomes, the more dangerous life in general becomes for the average man who simply wishes to stay alive. Yes...
Notice that on the gold chart, that Elliott Wave previous Wave 4 support is at 681 (66 for GLD).
If no dead cat bounce soon, then 681 could be tested sooner then later..
BTW, China is a government, and governmets tend to be the ultimate collective..
And collectives don't buy at bottoms..
Remember, that governments were big sellers at the bottom near 200....
It's hammer time!!!!!
MOARRRR!!!! I'm high on popcorn.
Seasoned salt on the popcorn?
http://forum.grasscity.com/seasoned-tokers/102181-salt-pepper-weed.html
"We are sure the Chinese will be very pleased to back up the truck a little more."
Having many experiences with the 'sensory-motorically challenged' Chinese drivers, they probably stepped fully on the accelerator and backed the truck straight through the pick up bay.
If the Chinese are anything like this asian, the price will have doubled before they get the truck backed up to the dock.
https://www.youtube.com/watch?v=acS4o5XbByY
If it comes, that COMEX default pales in comparison to what happens if another 2007-2008 economic downturn triggers a meltdown at the big banks. In October 2011, the Obummer administration allowed Bank of America to transfer $22 trillion worth of derivatives from Bank of America/Merrill Lynch to the FDIC. That $22 trillion is more than the National Debt.
http://seekingalpha.com/article/301260-bank-of-america-dumps-75-trillion...
If a bunch of investment banks are too big to fail, do you think that something like the COMEX is not? The government will pull out all stops, they will come after your gold in order to back the COMEX, before even you and I know COMEX is in trouble.
Also, we hit $1140 on November 5 2014.
The selling is coming from Greece.
Yeah....those guys are swimming in it.
You catching on now how the each country is going to get shaken down one after another for every PM and fleck of value in the system? They play man in the middle with the paper crap they print and set the price of the PM. If people think it's going to change, that is highly doubtful. Cyprus - Beta test. Greece - Alpha test
And the PMs the TPTB don't take by Financial Shysterismtm, i.e. Cyprus & Greece, they take by force, i.e. Ukraine, Libya, Egypt, Iraq, etc, etc.
Why would anyone take delivery of COMEX good bars?
They are .995 fine which is substandard everywhere else and they are nominally 100 oz which is a size used nowhere else. They'll need refining to meet international standards of weight and purity. COMEX is paper.
The Chicago gold contract is explicitly a paper contract. I have one of the last three kilo bars ever delivered on a CBOT contract. It pissed them off so much that they finally made it official that one cannot take delivery as it is strictly paper.
The funny thing about it was that they were in late delivery default on the contract and had to get someone to go to the HSBC NY vault on January first to ship. Some sob had to get the goods on New Years' Day.
Platinum lost the 1000 handle and is now 995.00 down 13.00 All of the PGM's are signalling collapse in the automobile markets.
Yeah!
These sons of bitches are about to piss me off. :/
Pissing you off? How do you think the miners feel?
The miners are part of the rigging problem. They hold the solution in their hands, but absolutely refuse impliment any supply side solutions to their "dilema". In my opinion, almost all the major miner CEOs are compromised/owned.
About 12/13 years ago Goldcorp took a stand and decided to stockpile half of their Gold production, rather than sell it into the market, as they were not content with the low prices being negotiated at the crimex. If a majority of the miners took a similar stand today, their problems would quickly evaporate.
Well said AJB. I happen to be the proud owner of a few shares of various miners. Their quarterly reports are out this past week and not only are they not cutting back, but they are generally bragging about production being up from last year. Hecla had some problems at Lucky Friday mine and decided to increase the workweek from 6 to 7 days. They have bumped up their annual production estimate from 10.5 million to 11 million. The miners seem more than happy to tread water at break-even. I guess the workers still get paid a good wage and the management still cash them bonuses, but the shareholders get jack-squat. Meanwhile they go to a lot of expense to find more resources just to give them away at cost. I am not an expert in mining by any means, but if I were in a situation where I couldn't make money I would at least break-even at the lowest possible production level to bring the paper-games to an end. Am I supposed to believe they can't cut production 20% and break-even?
Think they are facing the same thing as shale drillers, Venezuela, etc. The more prices collapse, the more they have to produce in order to meet revenue and pay debts. No one is financially strong enough to hold out for better prices.
Also, decreasing production to force a price increase works great if you are OPEC and everyone co-operates; not so well if you are the only miner that decreases production and you end up with less product at equally crappy prices.
How many Miner Presidents mothers were central bankers? I bet its many of them.
RIPS
Gold production has almost no effect on POG. It is the only commodity that has a thirty year supply overhang on the market. That's why it is money rather than Pt or Pd or any other precious metal.
Correction: We HAD a 20 year supply overhang that ended in 2001 when the Western Central Banksters ran out of physical gold to lend into the market, that was never to be returned in kind. The POG was then free to run for a few years, and at the same time the corrupt Miner CEOs were free to expand out their production to much higher levels, all in a concerted effort with NIRP and non-GAAP accounting to regain control of the exchange rate between paper IOUs and Gold. The present production levels cannot be maintained, and unless China/Russia/India suddenly decide to start dumping physical Gold into the market, we will see supply shortages in the coming decades.
Unless there is a MUCH higher Gold price that would enable the Major miners to tap very low grade ore bodies (all that is left now), there is going to be a drastically declining supply of Gold 10 years from now.
So, the train will leave the station..., in ten years?
To the moon, Alice!
...miners are part of the rigging problem...
If by "problem" you mean holding back a part of their product like corn farmers do in their silos to wait for better market conditions, then I find no fault, it's the market. Issuing / using future contracts to lock in the cost of business in order to remain viable year / cycle round is certainly a service I'm glad someone is willing to provide.
As perceived value rises, the cost to produce gold rises as security concerns, nationalization possibilities increase, (bribes, legal fees, etc.), and labor typically requests a larger chunk too. Farmers have fickle weather, miners have fickle governments.
I wonder how much of the current decrease in ag relative to fed paper has to do with a possible slowdown of Chinese solar manufacturing.
At these prices I'll be the best armed Werewolf Hunter on the block.
I already am.
gold bitchezzz !!!! keep stacking the phyzzzz - its the only true currency when the ussa fiat collapses and the zombie hordes walk the land looking for brains
oh and leprechauns love gold so why not
gold is MONEY, dollars are CURRENCY...
Gold is BOTH.
Welcome to the fair and free markets in the land of the free.
The questions is whose markets are more corrupt? America's or China's?
.....history never repeats but ...... yeah well Mark sometimes it does...... repeat I mean.....
Disgraceful and corrupt group that would allow such deviant behavior!
The paper price is on its way to its true intrinsic value.0.
The supply line is going to break for Phyz.
One way of getting a grasp on retail phyz supplies is to go to Apmex's site and go to the monster box section and type in 500 (like you're going to order 500 monster boxes) and you will get a pop-up telling you how much they have on hand. Interesting exercise.
For instance, right now, Apmex is showing 184 monster boxes of 2015 ASE's and 46 m.b's of 2015 silver maples currently in stock.
You can do this with kilo bars too.
JM 100 oz bars are a better guage to availability than minto monster boxes. Just FYI
RIPS
JM is closing up shop so JM 100 oz. bars are going to become scarce.
China increases holdings by 57%...must be a sell signal lol. This is getting ridiculous.
paperwillburn
Dumping at this low level means someone got themselves in serious trouble and had to take one heck of a loss. Wonder who is about to go under...
the gold and silver miners
The copper scam in China is the same deal as the continual slide in POG.
$12 silver, please! Or $8. I will buy as much as possible.
As reference, I waited two years for silver to hit my target of $17. Patiently waited, and then, when it dropped below $17.60, I waited some more, bought at $15+. Not to worry. It can go to $4, for all I care. I will just dollar cost average all the way down.
Measure your wealth in OUNCES or KILOS or POUNDS of PM, NOT in $, Yen, euros, etc.
Ask Dennis Gartman. He's be da king, I guess. (sarc)
They can drive the paper prices down as much as they want but don't expect to find any physical at those prices. There are already silver shortages and the premiums are rising. I just bought a tube of silver buffalos from the Doc and there is no delivery until the end of August...same at APMEX.
The place I buy has in stock not cheap 1.50 over for round buffalo's
See my post above about how gauge Apmex's current stocks of PM's.
So you all love the lower price of 'phyzz' because you can buy more and keep on stackin', except in the enxt breath you say premiums go up every time prices come down, and there isn't any phyzz available anyway....soooo....no one's buying any silver at lower prices?
Do I have that right?
Where does one purchase small amounts of REAL silver (i.e. 100 ounces)?
JMBullion has pretty cheap prices.
Where does one purchase small amounts of REAL silver (i.e. 100 ounces)?
APMEX has 100 oz bars,1000 oz bars and a variety of other sizes.
http://www.apmex.com/category/25600/silver-bars-by-weight
Sub $10 coming again?
A decade ago that dream price level was $5.....no.....they didn't get any.
They're still waiting....so your in good company.
No. If the laughable paper price hits $10, the premium will be 100% if you find anyone willing to sell.
Do believe this or are you just puking back what your reputable local dealer states?
I can buy all of the silver I want at a point or two above the "paper" price.
At the rate it is falling, it takes a day or so for the national vendors to lower their ask price on their websites.
ProTip: Paper price is the market price... If you are paying grossly over the "paper" price you are getting fucked.
I can buy all of the silver
Can....being the key word.
In 2002 and 2003 I was buying Gold and Silver from sellers on eBay. At that time, with prices at very low levels, I could regularly buy ounces at LESS than spot price. The sheeple simply had zero interest in keeping those coins that kept going down in price. If Silver goes back to $10/oz., you may find it selling for $9/oz. on eBay/Craigslist/Kijiji
Obviously you weren't paying attention to physical PM supplies back in 2009-2011.
ProTip: Never listen to anyone who says "ProTip".
True dat.
Flaco is right If the paper / physical price becomes disconnected to the point many people here think it will, the whole financial system will implode.
Quid pro quo? U.S. to other countries (specifically China and a few others): 'You buy our debt and we will ensure that pm's prices are kept artificially low. This way you will make up for the loss due to artificially low interest rates and understated inflation figures.'
That was the old game, this is a new one.
"When you are no longer needed, I will run the show."
Thanks JPM. I am thinking of buying more silver
China continues to accumulte so they have to keep the prices down. Once they hit thier target level of holding it will go up again
I hope oligarchs know that the only PM stackers left now are pretty hard core, a bit like kamizake style.
I'm starting to think that they prefer if we 'stack' - We pay a premium for metal, we pay for shipment, some countries pay VAT, we pay for insurance on shipment, we have to buy a boat so we can have a boating accident, - What if we start using metal as currency, by having a network of local producers , i'm working on it in my local area, my first Ag transaction is about to take place very soon, people here on ZH are 'hoping' for silver to rise and we will all be rich, this is unlikely IMO, on the other hand if we start using the stuff we are bringing about a hyperinflation by switching to an alternative currency. For it really to work you need to become a producer also, either by bartering a skill for another skill or product (could be metal) or the piece of furniture or art or natural health product/procedure etc. etc.....
It's ok to stack IMO but don't expect anything much to happen, but if you have built a network suddenly everything becomes much more fun, especially when 2 networks merge and now you have doubled your number of producers who are accepting 'alternative' methods of payment.
When my band plays out live I add on to our merchandise signs that we will accept one Troy ounce of silver for a T shirt.
So far, only paper. But it has led some fans to ask about silver, which at the very least, especially for metalheads, is encouraging.
“buy when there’s blood in the streets.” Baron Rothschild
Keep the slams coming. I want to have enough to retire once it reprices and i don't have enough yet!
Well, I hope you mean that you can still retire when it reprices to a 1/3 of the current price.
Your grandkids might be able to get you back to break even...
Keep going you criminal motherfuckers.
Thanks to your bullshit I'm well ahead on balance and gaining some lovely insurance against you and your business chums reckless stupidity.
Also, well done to whoever did dump that this morning. Why the hell would you want to own paper gold!?
This circus wth paper metals will not end until someone places simulatenous orders at different exchanges for a shitload of physical silver. And I mean at least 10,000 tonnes or around $5 billion dollars.
Surely there is someone out there willing to play with 5 billion dollars to prove the point and make a bundle at the same time.
Good, I'm holding dry powder waiting for them to smash gold down below $1,000 and silver below $10 to take advantage of the capitulation selling.
I'm trying to find a way to get cancer, but i just can't seem to find a way to get er done, do you have any tips?
Go swimming near Fukushima and enjoy a seafood dinner after you're done.
Benzene huffing?
(sorry, today is my drug theme day.)
Start using hair dye.
Grecian formula?
That means higher on the spot price.
At these prices, I'm feeling nostalgic. Soon enough, I will be able to afford a gold "donkey rope" chain, like what the rappers wore in the 80's. I always wanted to be a rapper....
In this game of poker for idiots I will not cash in my PM just because the others are pulling fake chips out of their arses.
Said the boy who cried wolf on his way out the casino.
I love the smell of capitulation in the morning - almost as much as the smell of copulation.
Regardless, go fuck yourself, puppet masters. Looking forward to seeing your mutilated corpses in the public square.
GOLD AND SILVER GET SLAMMED DAILY= STILL PLENTY OF ROOM TO THE DOWNSIDE, OVERVALUED ( IF THAT EVEN MAKES SENSE)
S&P, DOW AND NASDAQ GO FUCKING UP EVERY FUCKING DAY HITTING ALL TIME HIGHS, INCLUDING BEING UP 150 PERCENT PLUS SINCE 2009= UNDERVALUED.
THIS IS HOW FUCKING STUPID MSM SOUNDS.
HANG THE FUCKING BANKERS NOW!!!!!!!
The chart is lovely. Bullish!
Silver is on its way back to $7 and will probably way over shoot to $4.50 to $5.00.
This is one short that has been great for the past few years.
Hey Skinny G...I hope you're right. I'll buy the shit out of it then. I played physical awhile but sold out at the right time though using it to pay off a divorce.
The irony. She actually helped me out in the end.
Jajjajajja jajjajajja jajjajajja
As will I.
Don't take my comments as anti-PM. It is just a horrible idea to be buying until it bottoms... PM cycle is very long (30 years) and we are no where near bottoming.
No, I get ya. Although others appear to leveraged and with little liquidity...prompting the down votes eh? This, from my perspective, is exactly what I want to happen. I also see the claims of high premiums because of such short supplies, but I've got old sellers calling me out of the blue to try and get me to buy right now...and a shop near my house that still sells barely over spot as standard practice. There seems to be a divergence there between some narratives here and what I'm seeing.
And they got Platinum to go below $1000 too !!!!!.....you could see that coming from a mile AWAY.
Platinum is looking like the better buy
The criminals just lowered their paper ask price. So I will raise my Physical Ask $12,000USD.
Any buyers?
The bottom is not yet in for the PM's. I'm waiting for gold under $1K/oz. Will buy more then.
And today the EU are going to bailout Greece again with newly printed fiat...more paper flying around...and the real metal falling in price....this is not Econ 101
Does somebody know/is there a way to find out....
WHO THE MAJOR SHAREHOLDERS OF GOLDMAN, JPM AND CITI ACTUALLY ARE?
I would not be surprised that the tru owners turn out to be the old jewish banking houses which of course have been rebranded several times in order to obfuscate.
Out of let's say, curiosity, I tried to do this research years ago. The majority were other banks and holding companies. I don't remember seeing any individual names.
Hahaaaaa...that's kind of what I expected. The end of the trail will probably be on Cayman.
When do the paper markets and physical markets completely diverge? China is loading up faster than ever, premiums for consumers are not even close to falling with the paper price.
Can premiums for gold go up while the paper price goes down? I think it could happen.
Poor gold bugs. So wrong!
We dont have real markets anymore. Price finding? Hahahahaha.
Wrong today right tomorrow.
Gold bugs? More like Reality Bugs, or History Bugs, or...
Oh, never mind.
I primarily buy on ebay. 10 oz silver bars currently in he range of $165-178. Not a bad premium, basically spot +10-15%, and, free shipping.
Besides, pay for it with FRNs (AKA worthless toilet paper) or PayPal credit (6 months 0% interest, 0 payments if paid in full) and use ebay bucks (you earn them when you spend on ebay).
Hedge accordingly, as they say.
If anyone finds this price level upsetting, then they better get some Valium on hand come Sept/Oct, because a big equity down draft is brewing, and when it hits PM's(paper that is) are going to be liquidated to meet
margin calls of these over valued stocks. That, imho, is the true physical buying opportunity, if phyz. can be had. Prices will muddle along at depressed levels for 2 or 3 years, then a sustained bull market can emerge.
However, if there is serious military conflagration between major powers, (excluding proxies), then all bets are off, then who knows? But what do I know Imuhnutjahb.
They aren't going to liquidate their losing position, the only under valued position in their portfolio, to meet margin calls! They will pile in like they're crossing the border to the promised land.
In a downdraft they will have to sell what will sell. The path out of PM's during periods of duress is a mile wide, so if they have to have liquidity, and much of their portfolio is illiquid, then they sell what others will
readily buy. It does seem counter intuitive, but I figure that's how it will go down. The pile in phase, into physical that is, won't come till the Emperor's bare ass is readily seen by the masses, and that could be years,
because who wants to pay attention to the mundane when bread and circuses are readily had.
Point is you're trying to time it, you're gonna lose. Just buy phyz and forget the amount of rolls of toilet paper you paid.
Nothing wrong with dollar cost averaging, I'm all for it; but sometimes you get a bigger bang for your Charmin than others.
At even lower paper prices, none will be had or the premiums will be moar than the coin itself.
Can someone explain this relentless smash right after JPM acquired millions of oz. of physical silver?
They wish to corner the market.
10 cent move is not a "plunge" in silver. She is the original widow maker.
yeay, I've been buying weekly batches of 20-80 eagles (depending on price) & was expecting a buying opportunity when I saw this but 18.49 on $14.96 spot? meh... I've paid more for some, less for most but these are hardly actionable prices (at least not in an inflection sense). the gold part is kind of interesting but I don't see how silver becomes the headline out of this?
I have stacks of silver as well, but with silver premiums this high, gold looks better right now - if you can afford a 1 ounce coin. I am freeing up some cash to buy if gold drops below $1100.
I'm buying hand over fist. Call me stupid.