It's still a beautiful day....................
DoubleEagle59
Posts: 8,429 ✭✭✭✭✭
Put it in perspective everyone.................
Silver being hammered, down over $8 an ounce!!
Yet, it's still over $70 an ounce.
If you need another tidbit of good news......
$70 an ounce (or lower) is just the 'paper' price.
True physical selling price is still over $80 in China and I'm quite certain we'll be kicking ourselves soon for not buying silver AND platinum at these bargain prices today when not compared to six months ago, but rather, from twelve months from now.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
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Comments
When gold and silver move together, it signals the coming end of fiat money.
There's your salient information, derryb.
I knew it would happen.
reuters is claiming the rapid decline is because "investors booked profits and a market perception of reduced geopolitical risks curbed safe-haven buying." LOL
Investors were taking profits and contined to do so at $50. Safe haven buying is not what drove silver to $80.
When gold and silver move together, it signals the coming end of fiat money.
Weak hands dropping out due to margin requirement increases and position limit decreases. No biggie.
I knew it would happen.
lbma is a morning fix before it went up most of the 10% that day
shanghai fix was our last night before it went down today
I agree really not so bad, it was going to happen. If it stops around here we’re golden.
you mean silveren?
You are correct if I meant it literally
Selloff’s are an important part of market actions. This is the first time in 14 years that the COMEX has increased margin 2 times in less than two weeks. They are trying to push silver prices down but I really think they don’t realize that there are 2 separate markets. Papers being sold off but there is still not enough metal in the vaults for all the contracts that are standing for delivery. Time will tell but I’d bet they can’t make Gold from lead or silver from paper.
Mike
MIKE B.
silver's price is spiking and with that is volatility.
it's all about protection
COMEX is freaking out and very worried.
When gold and silver move together, it signals the coming end of fiat money.
Now that’s funny
Selloff’s are an important part of market actions.
It was a liquidation and it's going to take awhile to sort it out. There are factors at work not being discussed.
I knew it would happen.
no dive tonight
got some stability already. it's actually up right now