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rickoricko Posts: 98,724 ✭✭✭✭✭

OK all you gold and silver market wizards.... What caused the precipitous drop in gold and silver today??
Cheers, RickO

Comments

  • jmski52jmski52 Posts: 22,269 ✭✭✭✭✭

    Because cnbc says the risk is “off” and to buy stocks because the Fed has your back?

    Yeah, sure thing. (Cough).

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • GoldminersGoldminers Posts: 3,563 ✭✭✭✭✭

    PM prices also usually drop right after I buy a few silver bars. Then I buy the dip. ;)

  • blitzdudeblitzdude Posts: 5,294 ✭✭✭✭✭

    Strong USD. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,025 ✭✭✭✭✭
    edited December 5, 2022 4:55PM

    @blitzdude said:
    Strong USD. RGDS!

    compared to what, the euro? lol

    Look deeper grasshopper. What caused dollar strength?

    It was hotter than expected Institute of Supply Management (ISM) Non-Manufacturing Index data combined with FED whisperer Nick Timiraos pushing the 'higher rates for longer' narrative.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • cohodkcohodk Posts: 18,501 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:
    Strong USD. RGDS!

    compared to what, the euro? lol

    Look deeper grasshopper. What caused dollar strength?

    It was hotter than expected Institute of Supply Management (ISM) Non-Manufacturing Index data combined with FED whisperer Nick Timiraos pushing the 'higher rates for longer' narrative.

    Dang recessions. Lol

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,025 ✭✭✭✭✭

    dang inflation. lol

    The decline from democracy to tyranny is both a natural and inevitable one.

  • jmski52jmski52 Posts: 22,269 ✭✭✭✭✭

    dang inflation. lol

    I'm just so relieved that it's only transitory. The privately-owned banking cartel, aka the Fed said so.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jclovescoinsjclovescoins Posts: 1,849 ✭✭✭✭✭

    the beauty of the market...months worth of gains can be erased in a few days lol...just when my mutual funds were even for the year, now down 10% after 2 days

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @ricko said:
    OK all you gold and silver market wizards.... What caused the precipitous drop in gold and silver today??
    Cheers, RickO

    Good grief...all that bs from different so called "knowledgeable" sources is mind-blowing.

    PM's went down because there were more sellers than buyers. And if there was a profit to be made, it was taken. Expect the markets to regain some lost ground shortly, so that we can continue on our roller coaster adventure.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,025 ✭✭✭✭✭

    @OPA said:

    @ricko said:
    OK all you gold and silver market wizards.... What caused the precipitous drop in gold and silver today??
    Cheers, RickO

    Good grief...all that bs from different so called "knowledgeable" sources is mind-blowing.

    PM's went down because there were more sellers than buyers. And if there was a profit to be made, it was taken. Expect the markets to regain some lost ground shortly, so that we can continue on our roller coaster adventure.

    OK. Let's ask the original question with different words: Why were there more buyers than sellers?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • cohodkcohodk Posts: 18,501 ✭✭✭✭✭

    Why were there more buyers THAT day, and less the next?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,760 ✭✭✭✭✭

    Fluctuations are nothing new. Breathe. It's a breather.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @TwoSides2aCoin .... I agree, breathe.... Holding one's breath for this long could prove fatal. :D;) Cheers, RickO

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,760 ✭✭✭✭✭

    @ricko said:
    OK all you gold and silver market wizards.... What caused the precipitous drop in gold and silver today??
    Cheers, RickO

    Here's a 30 day, bro.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    Just as I predicted ... The roller coaster ride has continued its journey

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,760 ✭✭✭✭✭

    @OPA said:
    Just as I predicted ... The roller coaster ride has continued its journey

    The global market is a roller coaster ride. So it's not really a prediction. Rest before rally.

  • jmski52jmski52 Posts: 22,269 ✭✭✭✭✭

    David Morgan gives a good interview on Greg Hunter's USAWatchdog.com, explaining both the silver premiums and the change in the law that explains why the Mint is making fewer Unc Silver Eagles.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,025 ✭✭✭✭✭

    Little catching up in store?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • blitzdudeblitzdude Posts: 5,294 ✭✭✭✭✭
    edited December 22, 2022 3:17PM

    Probably not. Especially since your chart is a month and 10 days old. That's gutter dinosaur years. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • SoldiSoldi Posts: 2,013 ✭✭✭✭✭

    Shiff is wrong . Fed will ease and rapidly, economy's are going south and rapidly too. Occurs right after new year look out for deflation. This is going to get ugly, real reason for disruptive global economy was indeed COVID causing supply distribution issue and the administration helicopter money.

    Hang on tight to jobs, loosen up on silver stacking, gold and especially rare coins. Get fiat while you can you'll need it for everyday expenses. Many will envy you.

  • ExbritExbrit Posts: 1,233 ✭✭✭✭
    edited January 3, 2023 7:32AM

    @Soldi said:
    Get fiat while you can

    Why? I don’t need anymore toilet paper

  • RonBRonB Posts: 628 ✭✭✭✭✭
    edited December 26, 2022 11:41PM

    I believe Fed will continue to raise to meet their 5-ish% rate goal, though much less aggressively. Then hold for a while. Markets traditionally rise for a while when Fed is in a holding pattern. Inflation will remain stubbornly high but is gradually trending down. Central banks around the world are buying gold as an inflation hedge. Watch gold in 2023 (and silver). Gold should easily breach $2000+ again, most analysts think much higher. USA is ahead of the world rate game, though late. Probably more of a controlled rough landing here, not the end of the world. Cool heads always prevail, stay nimble. JMHO.


    Collector of Classic US Coins
  • SoldiSoldi Posts: 2,013 ✭✭✭✭✭

    The USD and skullduggery

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