Today's gold and silver
MICHAELDIXON
Posts: 6,630 ✭✭✭✭✭
Wow! That is a drop!
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Ouch 😢
about time, we've not had a good smack down since April
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Not sure why it's a surprise. Gold and silver and PMs are more volatile than stocks or bonds and lately it's been straight-up for the PMs.
Today was a reminder to the folks who say "put all your $$$ into gold and silver" that volatility and risk didn't go away.
We'll get em next time
Hope it tanks…I want to buy more.
I highly doubt a nice steep dip is a surprise to many at all.
STACK IT UP!
COPPER is gutter !
I wouldn't want to own a position in paper SLV right now. I wonder if anyone we know sold SLV in a panic today.......
I knew it would happen.
Crypto is up, gold and silver are down.
It's a scary world sometimes.
Would hate to be some of the greedy SLV long call options holders. Some of the call options with strike prices 'in the money' yesterday are down 40-90% today. Sometimes greed is not good.
Buy the paper as near the bottom you can. I look for a 3% gain over the last low for re-entry into SLV. Last low for SLV was 43.48. When it reaches 44.78 without a newer low I'll buy back in. Last low for AGQ was 76.51. Because it is 2X leveraged I look for a 6% recovery (81.10) as my reentry point. If a new low is reached before the 3%/6% gain, I recalculate my re-entry point. I always want a positive direction in gold price to make the final decision.
Does being a fiancial whiz with dollars make one an expert with gold?
It's the end of the world!!!!!!!
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
My goodness that's a lot of profit taking.
Frankly though, even with this mini-crash, gold is still higher than I thought it would be at this time.
The cause begins at the futures exchange where the basis (spot) of physical prices is set via the demand/purchase of futures contracts. Bidding less on a paper product changes only the supply and demand of the paper product. While this in turn affects the demand and ultimately the price of physical it does not affect the supply of physical. Traders/buyers of futures contracts will continue to bid down the spot price OR they will see an opportunity to "buy low." Keep in mind that volatility is how the exhange market makers (with PMs its mostly bullion banks) turn a profit. We will know shortly which direction they will take the entire silver market for the short term. Smart people know the long term outlook, and these traders are not stupid, They simply want to make money and the only way to do that not to let the price maintain an uninterrupted rise or fall. Because of a need for price fluctuation to make profit, these market makers are in a position to control the volatility.
PM products will always be chained to the spot price of the raw metal. It is the supply and the demand of both the raw material and the products manufactured from it that create the fluctuation of premium prices that get added to the spot price to determine the final price for the product. At the moment a recently questioned supply has been determined by the market to be under control. It's simply a matter of time before the curtain, once again, gets pulled back. What we just witnessed was the beginning of a run on the bullion banks that had to be calmed. And it was. How, we will never know. But like the O8 banking crisis I am sure the can is simply being kicked down the road. So, sit back, buy the lows and prosper in the end. The supply and the demand of the actual material/product is the ball to keep one's eye on.
Also, keep in mind that the intent of futures exchanges is to control prices in such a manner that farmers, homebuilders, meat producers, and end users of metals are not faced with irratic or runaway prices for the commodities that determine their livelyhood. Also of concern is the countless individuals in these respective industries who's employment and futures depend on raw material price stability. Additionally, the success of price stability greatly affects the end users/consumers of the products developed from these raw commodities. Supply is a great factor in the price equilibrium process as has been shown with shortages of raw materials such as coffee beans, oranges and yes, even silver.
Does being a fiancial whiz with dollars make one an expert with gold?
I'm thinking that tulips might be a better option.> @derryb said:
Also known as herd mentality. 😉
Silver appears to have bottomed at 10:45 AM and continues to be stable, for now. What's next, nobody knows.
Does being a fiancial whiz with dollars make one an expert with gold?
Lest we forget it's up 64% year to date. The glass remains half full.
Does being a fiancial whiz with dollars make one an expert with gold?
Click, click, click
NYSEARCA: SLV
43.79 USD
−3.93 (8.24%)today
A pessimist is just an optimist with experience.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
That's what stop losses are for. Was at work and didn't even realize it was tanking. Also glad I dumped the Pt on Friday. Stopped out at $46 and back in at $44. I'd much rather be in paper gutter vs physical gutter at this point in time. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Stopped out at $46 and back in at $44.
So, you locked in your loss. That's what you just did. Well, at least you'll save on capital gains taxes.
I knew it would happen.
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A click-addict doing high-frequency trading will always come out behind. Wall Street is geared to take your money in this fashion.
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Time to max out the credit cards.
>
>
Very few people are aware that tulips have reached the bottom of their 388-year cycle. Anyone who hangs in there will be richly rewarded by 2125 at the latest.
For those of us who believe the price of gold is simply a reflection of faith in the currency it is priced, the state of that faith has not changed. Until it does (likely never) the distant picture of gold remains unchanged. $4,300 was deemed by many as a profit taking opportunity, knowing that enough across the board profit taking would provide a cheaper re-entry point. Retreats are normal, look historical charts, - they confirm the distant picture.
Does being a fiancial whiz with dollars make one an expert with gold?
useconomy.gov sees the need to run the economy "hot" (inflation) to deal with its debt. Look for inflation to climb and PMs to respond higher.
Does being a fiancial whiz with dollars make one an expert with gold?
What's the difference, paper or physical ? They both went down today and they track daily for the most part.
GOLD: We were 28% over the 200 DMA on Monday at the highs. Highest overbought in 20 years. We're burning off the excess.
Patience.
What's the difference, paper or physical ?
You really don't have a clue?
I knew it would happen.
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With the lower silver price, I am sure that premiums on physical silver have improved (increased) a bit.
Premiums on SLV ONLY GO DOWN over time. So, in net terms, paper silver has declined more than physical silver.
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My point is...they track. I don't care about differentials. You won't see COMEX Silver at $55/oz. and physical silver at $42/oz. Not for long, anyway.
Four consecutive sessions of identical behavior suggest something larger than ordinary profit-taking. Open interest remains flat, implying that as prices rise, large funds exit and bullion banks cover shorts—behavior consistent with official management rather than free price discovery.
Does being a fiancial whiz with dollars make one an expert with gold?
It hit 37T in August, and in just 2 months, already another trillion.
My US Mint Commemorative Medal Set
@Goldfinger1969 said: What's the difference, paper or physical ?
You really don't have a clue! How long have you resided in that ivory tower?
Do you believe that debt is the same thing as money and that banks should be allowed to create money?
Why is a 1964 dime now worth $3.55?
This ought to be interesting.
I knew it would happen.
Four consecutive sessions of identical behavior suggest something larger than ordinary profit-taking. Open interest remains flat, implying that as prices rise, large funds exit and bullion banks cover shorts—behavior consistent with official management rather than free price discovery.
@derryb: more delivery contracts were taken out in a non-delivery month, just after a slew of futures contracts were dumped by "a large entity" to drive the price down in the wee hours (in a thinly-traded market) while New York was closed, right between the Asia close and the London open.
https://youtu.be/8yPTYZGxAV8
I knew it would happen.
Silver has risen to 49.32 four times in the past seven hours only to be beat back down. The fact that is has been resilient to recover back to 49.32 each time is a sign strong demand is present. It has just surpassed 49.32, lets see if it is suddenly hit again. If not, I'll slowly get back into the paper.
Does being a fiancial whiz with dollars make one an expert with gold?
Silver keeps trying to break free today. But the hammer keeps dropping. Hopefully there will be a shortage of hammers.
Update: as of 7 pm silver is still the nail.
Does being a fiancial whiz with dollars make one an expert with gold?
I think this has to play out, and as it does more silver gets delivered and less physical is available. It's still in backwardation and London still doesn't have enough to meet their hypothecated obligations.
I knew it would happen.
Rock'em Sock'em RoBOTS...... forces are trying to regain control.. As mentioned, just has to play out.
Smarmy responses aside, from the perspective of where the price is going, you haven't answered the question. I certainly know the difference between an ETF, Futures contract, Option, and physical silver. Stop the semantics.
You're playing around with words and the relationship between PMs and how much they cost in dollars (ignoring they cost more in other currencies, too).
The purpose of this thread is to discuss the price, not the "debt" terminology of your Gold Bug friends.
So...give us a price target and a time-frame.
from the perspective of where the price is going, you haven't answered the question.
Your question plainly shows that you think that paper derivatives are money and that silver is the same as paper. It's not the same as paper.
I certainly know the difference between an ETF, Futures contract, Option, and physical silver. Stop the semantics._
It's anything but semantics, but for you let me be more direct - silver is money. ETFs, futures, and options are only contracts and contracts are rife with counterparty risks (especially these days). Paper is not silver.
You're playing around with words and the relationship between PMs and how much they cost in dollars (ignoring they cost more in other currencies, too).
Sheesh. no wordplay here. I'm 100% dead serious.
The purpose of this thread is to discuss the price, not the "debt" terminology of your Gold Bug friends.
I don't see any reference to the future price of silver other than from you in this thread.
So...give us a price target and a time-frame.
I don't pretend to know where silver is going except that it's going significantly higher. Too many future events can intervene - including a ban or confiscation - so why waste time trying to pick a number? It's already significantly higher than a year ago, and the trajectory hasn't changed, nor have the reasons for the rise.
I knew it would happen.
If you are saying a massive short-covering is coming for silver....I would expect it to EXPLODE in the near-term and outdistance gold and other PMs.
If it merely tracks, so what ?
Is this move happening this year....2026...before 2030....after 2030 ? You know, an investor would WANT to know !!
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You are being played for a chump, and you don't even realize it (many people don't).
Commercial traders live for these stop-loss orders.
This is how it works:
The commercial traders know where (at what price) stop-loss orders have been placed. If enough of these stop-loss orders exist, they make for a juicy target. When the time is right (often during a thinly-traded time), the commercial traders start short selling. They already have an idea of how many sales it will take to dive the price down enough to start triggering automatic stop-loss orders. When the stop-loss orders start to be triggered, that puts even more selling pressure on the market, which drives the price down even further and more stop-loss orders are triggered. In this manner, the commercial traders ride the price all the way down on their profitable (short) contracts. The last batch of stop-loss orders at the bottom of the run will offset the commercial traders' short position, closing out the event.
An individual speculator has access to things like bid/ask price (of course), open interest, and warehouse inventories.
Individual speculators do NOT have access to the price levels at which other stop-loss orders exist.
But commercial traders do have access to this information. And they use it against "retail speculators".
Speculating with stop-loss orders is an invitation to commercial traders to come and take your money.
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Not to mention HFT spoofing in milliseconds and the competition between towers right next to the exchange.
I knew it would happen.
@dcarr
Glad I'm not the only one who doesn't like that all these stop/limit orders are visible to the B/D firms and that they can manipulate trading accordingly.
@jmski52
Normal investors don't stand a chance in the two tiered market. HFT spoofing, front of the line orders, colocation with the ECN's networks, they are 'the house' and will always get the winning hand.
Yep... sure sounds like a rigged system.
Wait! There I go again... thinking the precious metals are manipulated!! When the financial experts here on the forum say they are NOT!!
No they don't. Who told you that ?
They absolutely do NOT know that information. They'd have to have cracked the security at a dozen brokerage firms to know that.
So does this manipulate the price UP or DOWN ?
Playing around with the spread and other nonsense doesn't impact the trend.
And those of you who think that the Little Guy doesn't stand a chance: you can get in or out of the market completely within seconds. It takes The Big Guys days or weeks or even months.
Small traders have unique advantages that you completely overlook.
You don't have to be a financial expert to know this. You just have to be willing to not take conspiracy theories at face value from people with their own agenda.
Alleging a conspiracy or price-fixing among dozens of players, each with their own agendas, is what I would be suspeicious about, not self-evident manipulation.
They manipulate both Up & Down for profits. Bring it up then sell it out, they love volatility. Now does it effect the overall long-term trend, maybe not, but it effects today when I might want to buy or sell.
I can get in or out of the market with my 100 - 1000 share orders immediately where hedge funds and fund managers may need to liquidate millions of shares. Of course they can't dump at once. Does that mean they should be able to manipulate the market to maximize their profit.