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PM Markets down staggering numbers

piecesofmepiecesofme Posts: 6,669 ✭✭✭
in Precious Metals
Gold down 2.96%, Silver down 5.51% as of writing this. image
To forgive is to free a prisoner, and to discover that prisoner was you.
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Comments

  • nibannynibanny Posts: 2,761 ✭
    I think Kitco is messing up, it seems that the difference in dollars is ten times what it should be.
    I read Ag high $15.58 and now $15.51 with a drop of $0.79 instead of $0.07.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    I saw Apmex showing gold down $21.
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    Or it's using Thursday's close

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    << <i>Or it's using Thursday's close >>




    That is what its doing. Gold was 1158 earlier today now its 1155 thats not down 34
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>Or it's using Thursday's close >>



    Always tough to determine the previous fix price. Especially when holidays are involved.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Or it's using Thursday's close >>



    That appears to be the case...."Help I'm falling and I can't get up."image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    I'm expecting a substantial change between now and Monday evening. Demand for COMEX delivery on Monday will determine which direction. image

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>I'm expecting a substantial change between now and Monday evening. Demand for COMEX delivery on Monday will determine which direction. image >>



    You don't have to wait for COMEX...remember, APMEX has a sale on ASE's, and we all know what that means.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • nibannynibanny Posts: 2,761 ✭


    << <i>

    << <i>I'm expecting a substantial change between now and Monday evening. Demand for COMEX delivery on Monday will determine which direction. image >>



    You don't have to wait for COMEX...remember, APMEX has a sale on ASE's, and we all know what that means.image >>



    LOL! They didn't get me this time...I went with Provident! imageimage
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    $20 drop in gold so far on an "epic" gap down at the oversea open. Never seen a spot gold gap at $7 wide before ($1160-$1167). Silver was about 10c which equates to a $7.5 gold gap (75-1). Silver has filled that gap on a bounce but has since given it all back. Gaps of that size are extremely rare. If that gap doesn't fill within 24-48 hrs the potential of tanking through $1130 is quite realistic.

    Silver just collapsed on a bigger gap down (30c) to $14.41. That's at the 2006-2007 support ledge of $14.50-$14.60. That would equate to a >$20 gap in gold. Epic squared. Incredible hits. Gold to silver ratio with a 5 pt spike to 79.2. That meets the first target of 78 in the 13 month cup with handle pattern. And there's a bigger 5 year pattern still out there pointing much higher.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    ummm, wtf is going on?
    Silver now down 9.08%???
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    << <i>ummm, wtf is going on?
    Silver now down 9.08%??? >>




    Everything was fine until you jinxed it image


    You talked it down by the power of your words
  • LowBudgetLowBudget Posts: 383 ✭✭
    gold down 45 and silver 1.66 in 45 minutes , wow
    "I'm dropping my standards so that I can buy more"
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    Look for lots of "out of stock" signs tomorrow morning. Or at the very least, jacked up premiums.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    Switzerland is the excuse

    The real reason is the run up is now history and the run down is in full force.


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • C0INB0YC0INB0Y Posts: 627 ✭✭
    Just thank the Swiss Voters
    I was ‘COINB0Y' with 4812 posts and ‘Expert Collector’ ranking (Joined in 2006).
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>ummm, wtf is going on?
    Silver now down 9.08%??? >>



    Yep, at least briefly silver was down 9% in minutes. Essentially a $1 drop in seconds.

    image
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    Oil under $65. Will have to edit the other thread title. image
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Soooo....it is real, not the Thursday close!
    The Swiss referendum never had a chance to pass, so don't blame them.
    Look out below......hopefully not many have all their eggs in one basket.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Yep, currently there're both taking
    a substantial beating !!! image
    Timbuk3
  • WingsruleWingsrule Posts: 3,011 ✭✭✭✭
    Kitco Friday closes were gold at $1169.50 and silver at $15.68.

    At 7:00 pm, they are reading $1151.30 and $14.74 with a GSR of 78.11.

    Time to buy silver.
  • WingsruleWingsrule Posts: 3,011 ✭✭✭✭
    That's 1.55% for Au and 5.99% for Au.
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    "Time to buy silver"

    I think that has been chanted here often the last few weeks.
    Trying to catch a falling knife!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>That's 1.55% for Au and 5.99% for Au. >>



    Yeah, silver got a quick 3% bounce off the bottom. There's a lot of paper moving tonight.

    image
  • WingsruleWingsrule Posts: 3,011 ✭✭✭✭
    I have been wrong before, and will be again. I meant to comment about exchanging gold for silver (ref comment on the GSR) but it didn't quite come out that way.
  • tincuptincup Posts: 5,142 ✭✭✭✭✭
    Still silver available out there at $2.49 above spot....

    Buying opportunity or a razor sharp knife falling??
    ----- kj
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Kitco Friday closes were gold at $1169.50 and silver at $15.68.

    At 7:00 pm, they are reading $1151.30 and $14.74 with a GSR of 78.11.

    Time to buy silver. >>




    Or a time to swap "some" of your gold holdings for silver. If GSR heads to 90, 100, or higher, both metals will continue to get punished. Momentum and longer term chart patterns suggest silver could under-perform gold for quite some time still. It's still up to the dollar (Euro), and the USD/Yen, USD/AUD currency crosses. They've been driving the bus since early to mid 2011. If that bus just got on the Autobahn for an acceleration run, that could be a problem for the PM bulls.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭


    << <i>Silver just collapsed on a bigger gap down (30c) to $14.41. That's at the 2006-2007 support ledge of $14.50-$14.60. >>


    Well, it's not like anything bad has happened in the past eight years . . .

    My Adolph A. Weinman signature :)

  • carew4mecarew4me Posts: 3,471 ✭✭✭✭
    time to fatten up on phyzz

    Loves me some shiny!
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>time to fatten up on phyzz >>



    That routine is becoming less & less appealing. Best to wait for a bottom.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Those who still think manipulation isn't happening should be biyitch slapped about the face repeatedly. This is a CLASSIC example of it.
    Thinly traded market over a US holiday weekend and someone with the ability to cause this IS making it a reality. I say that's manipulation by definition.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • carew4mecarew4me Posts: 3,471 ✭✭✭✭


    << <i>

    << <i>time to fatten up on phyzz >>



    That routine is becoming less & less appealing. Best to wait for a bottom. >>



    Sure. Just let me know when it bottoms image

    Come on...$300 SAE rolls! I have a 20 year window...I am loving these prices.

    Now if you playing paper....ouch...scary....

    Loves me some shiny!
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Provident metals is now sold out.
    theknowitalltroll;
  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>

    << <i>Silver just collapsed on a bigger gap down (30c) to $14.41. That's at the 2006-2007 support ledge of $14.50-$14.60. >>


    Well, it's not like anything bad has happened in the past eight years . . . >>



    Aaahhhhhhh, ya sure?
    Lost value due to inflation(no matter whose numbers you use).
    "Time value of money", lost oportunity in other assets, etc etc etc
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • PRIZ430PRIZ430 Posts: 306 ✭✭✭


    << <i>Those who still think manipulation isn't happening should be biyitch slapped about the face repeatedly. This is a CLASSIC example of it.
    Thinly traded market over a US holiday weekend and someone with the ability to cause this IS making it a reality. I say that's manipulation by definition. >>




    I AGREE...It was quite apparent all last week that the Swiss referendum would be voted down and still Gold traded above 1200.00...Until the holiday set in...Thinly traded markets overseas on Thanksgiving were hit to the down side, which continued into Friday's thinly traded US Market's BLOOD BATH....and now...even though the Swiss voted came out as expected...a new round of selling occurs during thinly traded Sunday night Far East trading.....And NO ONE in power give a rats ass to look into it....Precious metal trading is dirty...right from the top....to the regulators that look the other way...
  • CaptHenwayCaptHenway Posts: 32,150 ✭✭✭✭✭
    "SPLUNGE!"
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    I suppose manipulation is the cause for the partial recovery that is occurring. All you conspiracy nuts ... get a life and stop reading all the internet tabloids. Thin trading is a fact of life when the US market is closed.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • bestmrbestmr Posts: 1,778 ✭✭✭
    All I know, is I'm GLAD I didn't buy about 50oz on Friday. I had my finger on the buy button but had just spent money on Christmas presents. I didn't think it was a good idea to take that big of a hit at once.
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Sure. Just let me know when it bottoms >>



    You'll know when it's stop making all time lows.





    << <i>Now if you playing paper....ouch...scary. >>



    I'd venture to guess, quite a few made a fortune during the last 3 1/2 years.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Provident metals is now sold out. >>



    JM has lots still availableimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Oil has nailed the coffin... Pm buyers got drugged, then buried by oil...black gold...
    keceph `anah
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>All I know, is I'm GLAD I didn't buy about 50oz on Friday. I had my finger on the buy button but had just spent money on Christmas presents. I didn't think it was a good idea to take that big of a hit at once. >>



    Wise move. Sure looks like you'll have a chance to but under $1100 this winter.

    Oops - thought you were talking gold.

    image
  • morbidstevemorbidsteve Posts: 572 ✭✭✭
    This is hilarious!! I made a gigantic investment at 15.54. Ahh! Glad I have plans for my silver (hahaha for real!)
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    I hope it was a bet for lower prices

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    Buying in increments on the way down.... My increments are at least 30 days apart. When I feel we are at a good spot, I may up my quantities, until then... I'll just ride the roller coaster image

    Don't bet the farm and you don't have to worry about the ride.

    image
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Deflationary correction.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Man everyone is doom and gloom.

    Anyone have ASE's for sale near spot? image

    For real though, can anyone find reputable dealers that have adjusted prices accordingly? Apmex has barely budged and their 20 ASE sale they had on ebay actually rose by $20ish for the auction haha.
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    At these prices the premiums on 90% and silver eagles are just too high. I think the silver ETFs are a better value for the short term.

    My Adolph A. Weinman signature :)

  • mikliamiklia Posts: 1,295 ✭✭✭
    this has to be the funniest daily chart I've seen in ages. That's what, a 15% price swing in 8 hours?
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭

    What happens in Asia , stays in Asia image Nothing to see here folks move along


    The big slide in silver started on a sunday night in Asia a few years back the same 6:01 EST hit but last night they hit the button but today its back where it was

    The machine must be broken image


    They better adjust something in their algos or send for this guy to give the thing a rap






    image
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