Why the big drop in silver prices?

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PerryHall
PerryHall Posts: 47,752 ✭✭✭✭✭
in Precious Metals
Down 69 cents as I type this. Did I miss something?

Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire

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  • jessewvu
    jessewvu Posts: 5,087 ✭✭✭✭✭
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    Not sure. But WOW!
  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    Maybe that unknown comic poster made a big purchase ?image
  • PerryHall
    PerryHall Posts: 47,752 ✭✭✭✭✭
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    << <i>Maybe that unknown comic poster made a big purchase ?image >>



    Don't you mean a major sell-off? Usually a big purchase results in a price increase. In any event this may be a good buying opportunity.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    Humor aside , I have a toolbar in my browser and every metal is down today gold , silver, platinum, palladium, copper, nickel, aluminum, zinc, and lead are all in the red
  • bestmr
    bestmr Posts: 1,810 ✭✭✭
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    I say go down more! Although, apmex missed the boat this time. Seems they have their eBay deal but then silver drops the next day.
    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
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    according to ZeroHedge fears over "ongoing commodity-financing restrictions and slowing money supply growth are contagiously spilling over into other collateral." Copper is taking a hit as well.

    Money supply slowdown is temporary. All those dollars overseas that are being slowly removed from international trading by non-US trading partners will be coming home to roost.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Buying opportunity.... likely just a temporary drop....However, sellers are not likely to drop their prices yet..... Cheers, RickO
  • gsa1fan
    gsa1fan Posts: 5,566 ✭✭✭
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    This thread should start at $17oz Ag, markets have to ripple a bit.
    Avid collector of GSA's.
  • SaorAlba
    SaorAlba Posts: 7,593 ✭✭✭✭✭
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    << <i>Down 69 cents as I type this. Did I miss something? >>



    The last time I sold silver, hmm - to someone in this discussion - it then went up dramatically! image
  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    Aluminum and tin are up, due to seasonal foil demand for hats, caps, helmets, bonnets, etc

    Liberty: Parent of Science & Industry

  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    << <i>Ha! Quite clever, Baley!...

    Riddle me this.... If this is truly a "free and fair market", how could Harvey, as a rule, be correct on his calls?... >>



    As the saying goes: "Even a broken clock tells the correct time twice a day."....We shall see if the rest of his hypothesis comes to fruition. As I type this, silver and the other PM's have regained some of their losses.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    << <i>Ha! Quite clever, Baley!...

    Riddle me this.... If this is truly a "free and fair market", how could Harvey, as a rule, be correct on his calls?... >>




    So you're saying that Harvey has intimate knowledge of the "unwritten rules"? If the market is not free, but Harvey knows whats going to happen, then perhaps he should be investigated for insider trading.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    If the market was "free and fair", then I would expect it to be predictable.

    If the market was not "free and fair" then I would expect it to be quite unpredictable.

    Since it appears some idiots (even some who write about charts on this board) image seem to predict market movements with regular consistency, then I would deduce the market is indeed free and fair. Yes/no?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • rawteam1
    rawteam1 Posts: 2,472 ✭✭✭
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    Lol, Harvey finally got a general prediction right?.... Wow good for him...
    I would guess anyone could do that over an extended period of time...
    Harvey = Horoscope ...
    keceph `anah
  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    << <i>My answer? "No".

    Harvey was able to predict this morning's price movement last night because he understands not only that these markets are "managed", but also how this is done. That knowledge enables him to look at the pertinent factors and predict what the next move will be.... >>



    If Harvey has this " knowledge ", then anyone can gain this " knowledge ", therefore the "rules of the game" are known and a free and fair market can be and is established. Whether one chooses to participate or does not agree with the rules is an individual decision but has nothing to do with the legitimacy of the market.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    << <i>

    << <i>My answer? "No".

    Harvey was able to predict this morning's price movement last night because he understands not only that these markets are "managed", but also how this is done. That knowledge enables him to look at the pertinent factors and predict what the next move will be.... >>



    If Harvey has this " knowledge ", then anyone can gain this " knowledge ", therefore the "rules of the game" are known and a free and fair market can be and is established. Whether one chooses to participate or does not agree with the rules is an individual decision but has nothing to do with the legitimacy of the market. >>



    Yup, great answer. Theoretically, ANYONE can become a Wall Street banker, or a neurosurgeon, or a US Senator, or a PM baron, if they do the right things with their time.

    In this country, lots of folks spend most of their "me" time with their families and/or consuming popular entertainment (sports, the arts, etc) rather than working.

    some small but growing minority prefer to spend their leisure time complaining about the rotten bankers, doctors, and the government

    Liberty: Parent of Science & Industry

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    << <i>If the market was "free and fair", then I would expect it to be predictable. If the market was not "free and fair" then I would expect it to be quite unpredictable. >>


    Actually, I find that those keeping the market from being free and fair are much more predictable than the emotions of free market players. Listen to what not the FED says, pay attention to what it does.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • unknowncomic
    unknowncomic Posts: 945 ✭✭
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    << <i>

    << <i>Maybe that unknown comic poster made a big purchase ?image >>



    Don't you mean a major sell-off? Usually a big purchase results in a price increase. In any event this may be a good buying opportunity. >>



    No I didn't sell any . It only goes DOWN after I buy it . It goes UP after I sell it.
    Molon Labe
  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    << <i>

    << <i>

    << <i>Maybe that unknown comic poster made a big purchase ?image >>



    Don't you mean a major sell-off? Usually a big purchase results in a price increase. In any event this may be a good buying opportunity. >>



    No I didn't sell any . It only goes DOWN after I buy it . It goes UP after I sell it. >>




    I take it you were a fan of the gong show


    Do you remember another show from the same time, "the dollar ninety eight beauty show?" image

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