Silver Prices Hitting the Roof

[Cavedweller]

As always not going to watch someone talk on a video.

Suit yourself. Nobody's forcing you to get a little education. It wasn't intended for you anyway.

Sounds like you already shot your wad, for half of current market price, so no big deal to you.

 

[Colt Carbine]

View: https://youtu.be/UYMUn7zDE-c?si=A001qdt6jjLkkq4A

According to Harry some bullion dealers and coin shops might not survive depending on one's business model. Refineries trying to squeeze out the little guy financially delaying payments up to 10 days.

 

[gmerkt]

US forces moving to IRAN.

What happened, did Donald lose focus on Venezuela already??

 

[coltemp]

What happened, did Donald lose focus on Venezuela already??

No, he is working on multiple fronts all at the same time.
Iran is really a play against China and it's influence and money being used to spread terror around. the main buyer of Iran Oil is China. The only reason the regime is still around is the Chinese money flowing in. And of course the Russian money flowing in for producing lots of drones to attack civilians in Ukraine.

 

[Gigatar]

Yeesh, something big just happened behind the curtain.. gold down $300+, silver down $9.

It's on sale!

 

[Bolt_308]

Yeesh, something big just happened behind the curtain.. gold down $300+, silver down $9.

It's on sale!

When that big dip happened a month ago where it dropped to $86, I made some purchases thinking well, this could be good timing or I could get hosed if it just continues to tank. Obviously that didn't happen and it continued the next month to climb up $30 an ounce. Just crazy though that silver is having such huge swings- used to be that the 'dips' were a very low percentage, now it is massive. . .

 

[Medic!]

Fiat Currency always fails. It's just a matter of time...........................



....................Until we pick another Fiat currency.

 

[Knobgoblin]

I really want some of that Venezuelan paper artwork. It's pretty cool.

 

[gmerkt]

....................Until we pick another Fiat currency.

This is one possibility, revaluation of the Dollar. The NUSD, New US Dollar. Where there is a reset and a zero or two is removed from the right side. Whether or not it would be successful would depend on what kind of backing, if any, it would have. Without solid backing or meaningful reform, it's just an accounting trick.

 

[Alexx1401]

Suit yourself. Nobody's forcing you to get a little education. It wasn't intended for you anyway.

Sounds like you already shot your wad, for half of current market price, so no big deal to you.

I don't watch any of these talking head video's. If there is really something there for others to learn why is it no one trying to "help" is smart enough to just wright it out? So we have people who are functional illiterates who can't read or write? They are only capable of watching someone talk who tells them how smart they are?

 

[Alexx1401]

Yeesh, something big just happened behind the curtain.. gold down $300+, silver down $9.

It's on sale!

Showing silver at $114.82 right now so does not look like a crash to me.

 

[Gigatar]

Too bad my LCS didn't open until after that drop and recovery. Extra ounces are always appreciated

 

[coltemp]

Big drops are just the expected swings in a fast rising market. What we saw was a bunch of paper positions closing their contracts. Highly likely some larger players had to close contracts due to margin requirements. The COMEX has been playing with how much cash has to be up-front. Likely with the continued rise more firms had to pony up funds they didn't have. Only way is to sell. Once you get several dozen of these the computers take over and others sell to lock in their gains. And then we see the steady rise again. As players buy back in on the shorts which leads to a rise so they can play the game all over again. Selling out shares they don't have to buy other shares on the dip to fill those sell orders on the way down and extras to sell for a profit. Rinse and repeat.

Today is nothing new.

 

[coltemp]

Email from this morning from SD bullion sums up what is going on very well.

After a strong rally in the past few days, gold and silver are dipping this morning as overbought conditions flip machine-driven momentum, following the US Fed's decision to hold rates steady. These algorithms can turn fast—creating brief pullbacks that disciplined buyers watch closely. Many customers use dollar-cost averaging on dips like this to keep stacking, while the long-term case of a weaker dollar, rising U.S. debt, and global de-dollarization remains unchanged

 

[Cavedweller]

I don't watch any of these talking head video's. If there is really something there for others to learn why is it no one trying to "help" is smart enough to just wright it out? So we have people who are functional illiterates who can't read or write? They are only capable of watching someone talk who tells them how smart they are?

There is a lot of info on silver market dynamics packed into 26 minutes. Too much to summarize for you. But you'll never know if you don't watch. That's up to you. Might have something to do with why you sold way too soon.

 

[gmerkt]

Big drops are just the expected swings in a fast rising market. What we saw was a bunch of paper positions closing their contracts. Highly likely some larger players had to close contracts due to margin requirements. The COMEX has been playing with how much cash has to be up-front. Likely with the continued rise more firms had to pony up funds they didn't have. Only way is to sell. Once you get several dozen of these the computers take over and others sell to lock in their gains. And then we see the steady rise again. As players buy back in on the shorts which leads to a rise so they can play the game all over again. Selling out shares they don't have to buy other shares on the dip to fill those sell orders on the way down and extras to sell for a profit. Rinse and repeat.

If trading in derivatives was against the law (as it should be), the PM markets would be vastly different.

 

[Cavedweller]

Once you get several dozen of these the computers take over and others sell to lock in their gains. And then we see the steady rise again. As players buy back in on the shorts which leads to a rise so they can play the game all over again. Selling out shares they don't have to buy other shares on the dip to fill those sell orders on the way down and extras to sell for a profit. Rinse and repeat.

Today is nothing new.

Wild ride today. And I thought yesterday was crazy. You just can't compete with the computer traders these days. It all happens way too fast. The conventional wisdom would be "buy the dips," but the dip is over before you know it.

 

[gmerkt]

but the dip is over before you know it.

Remember when we used to check the price of gold in the newspaper??

 

[Cavedweller]

Remember when we used to check the price of gold in the newspaper??

Only too well!

 

[gmerkt]

Only too well!

I really wind up sucking hind teat with the speed of modern information. Most people carry a smart phone around in their pocket, they get a notification, they see it right away. Sometimes when I need a medical appointment and the first available date is distant, I'm offered the option of being notified of a cancellation that would allow me to sign up for an earlier appointment. Only once has one of these worked out, because I'm not checking my email frequently and I'm not carrying a phone around with me 24/7.

Program traders don't even have to react to bumps and bruises in the markets; they have automatic settings for sell/buy. By the time we bumpkins hear about it, it's ancient news. Even if we heard about it right away, by the time we got to the coin store, it would be over.