Silver fell off a cliff!

rgCoinGuy

They are all down, but Silver BIG TIME!

Bobk

Like a rock. I'll bet you can't find any AG close to that price.

NumbersUsacom

No you can't, I went to the apmex site and there sure isn't much to choose from.

fc

lets see if my supplier can shoot me another 200 ounces. hmm
glad i sold the other 200 ounces two days ago ;-)

roadrunner

Perfectly timed PPT sell off along with dollar boost. Dollar running up to .80+ and this while the US financial system is on shaky footing?
The gold stocks are now crushed if they weren't already. Silver following along.

PPT was right on time at 10-10:30 am this morning following an initial sell off overseas.

roadrunner

ajbauman

I don't understand why USD is gaining against EUR... The EUR central banks decided NOT to lower rates and the US is in the toilet and going lower everyday, why an increase in USD????

Bobk

Stronger dollar = the more bad debt they can buy back. (?)

storm888

Could go lower tomorrow.

Could go up, too.

57loaded

it seems a lot of people want some physical gold and silver, but the paper trade value is dropping because

clouisejewelers

Silver Eagles continue to sell on ebay for $20-21 each, in roll quantities. That's $9 or $10 over spot now.

cohodk

<< <i>Perfectly timed PPT sell off along with dollar boost. Dollar running up to .80+ and this while the US financial system is on shaky footing?
The gold stocks are now crushed if they weren't already. Silver following along.

PPT was right on time at 10-10:30 am this morning following an initial sell off overseas.

roadrunner >>




Brian,

I dont know why you dont see it. I have stated a million times that currencies are relative. The USA is in MUCH better shape than Europe. And when push comes to shove the most viable currency will always get the attention. The world is scrambling around looking, no begging, for dollars.

The PM drop was in the charts as I mentioned 2 days ago.


Ask yourself, can there be inflation if there are no economies?

500Bay

<< <i>The EUR central banks decided NOT to lower rates and the US is in the toilet and going lower everyday, why an increase in USD???? >>



My take on it is that this is the beginning of the first real test of the Euro system. The European economy has been pretty good since the Euro started. If this turns out to be a bad long term world wide recession - there will be a lot of pressure on member nations to want to inflate. If some nations (namely Germany) wants to hold firm, there could be a real test of the viability of the Euro.

moonshine

who else thinks - when it's all said and done --- after election for one thing, that silver will head back up the slope??

Also, what do you think is another 'when it's all said and done' example?

rgCoinGuy

<< <i>

Also, what do you think is another 'when it's all said and done' example? >>

NumbersUsacom

are they in line to buy their silver bullion?

roadrunner

I dont know why you dont see it. I have stated a million times that currencies are relative. The USA is in MUCH better shape than Europe. And when push comes to shove the most viable currency will always get the attention. The world is scrambling around looking, no begging, for dollars. The PM drop was in the charts as I mentioned 2 days ago.

What I do see is gold as a currency (ie cash) and the safest one right now. If we are starting to see a physical disconnect betw paper and physical gold then I can understand it. The dollar can be propped up, but physical gold should not be falling in this environment. Paper can go in the toilet....but miners have real metal in the ground

roadrunner

57loaded

we are going to be "pwned"

one way or another

storm888

"....but miners have real metal in the ground.."

//////////////


Mining stocks are the worst PM play there is.

Their performance is OFTEN little related to the metal prices, when PMs are rising.

Their performance is OFTEN much related to the metal prices, when PMs are crashing.

And, except for the old/big/famous ones, MOST are nothing but SCAMS.

...................

voice of experience speaking to you.....

cohodk

<< <i> I dont know why you dont see it. I have stated a million times that currencies are relative. The USA is in MUCH better shape than Europe. And when push comes to shove the most viable currency will always get the attention. The world is scrambling around looking, no begging, for dollars. The PM drop was in the charts as I mentioned 2 days ago.

What I do see is gold as a currency (ie cash) and the safest one right now. If we are starting to see a physical disconnect betw paper and physical gold then I can understand it. The dollar can be propped up, but physical gold should not be falling in this environment. Paper can go in the toilet....but miners have real metal in the ground

roadrunner >>




But the miners wont bring it out if it isnt cost effective. Gold is a currency of sort, agreed, but as was discussed in this thread, CoinLT--where has he been?--was right on. Deflation, Dec 07

CalGold

Can someone please explain to me why silver futures prices are not down around $7.50? After all futures are supposed to predict future prices with storage costs factored in. I can understand gold holding firm for now since people can’t figure where to park their money safely and gold retains a financial element to its value.

Or is global silver being propped up by all of the people buying ASE's on ebay for $20 each?

By the way take a look at what has happened to the drybulk shipping sector. Prices have nosed dived in response to declining demand and falling rates world wide as global economies have started to contract.

CG

unknowncomic

When its all said and done I will be OK. I stocked up on ammo, coffee, salt and the other basics. I also have enough land to grow things and a few critters to eat if I have to go that way.

jmski52

The world is scrambling around looking, no begging, for dollars.

Not to worry, the US Treasury is spitting them out as fast as they can.

this is the beginning of the first real test of the Euro system

And it's not doing too good.

futures are supposed to predict future prices with storage costs factored in

Futures are not a prediction of future prices, but a reflection of the current trend, with storage costs factored in.

Added: maybe they are a prediction of future prices. Now, I'm not sure what the exact derivation is. If they are a prediction, whose prediction are they?

MoneyLA

what is curious to me is that the "premium" charged by local dealers here in Los Angeles is still around $7 per Morgan or Peace Dollar or Silver Eagle. I find that extraordinary considering the nearly two-dollar an ounce drop in the price of silver of Friday.

Some dealers say there is still a shortage of actual silver, hence the premium remains high.

QUESTION: WHAT IS THE PREMIUM IN YOUR CITY ??

thanks.

roadrunner

Mining stocks are the worst PM play there is.
Their performance is OFTEN little related to the metal prices, when PMs are rising.
Their performance is OFTEN much related to the metal prices, when PMs are crashing.
And, except for the old/big/famous ones, MOST are nothing but SCAMS.

Sure, and mining stocks are also often the best PM play as well due their leverage.

The FED and company (ie JPM, GS) have manipulated the shares to be in line with showing a strong dollar face during the short period leading up to the election. True producers like Goldcorp, Agnico Eagle, and Kinross, Yamana who have demonstrated outstanding earnings in previous quarters have been targeted by the PPT and others to ensure their share prices stay down in this environment. They have plenty of demonstrated gold reserves in the ground. And if the price to mine the gold goes up they will cut back. This will only put further pressure on the above ground stores of gold. Regardless, it is a fact that gold miners did well during the Great Depression, probably best of all the major sectors.

roadrunner