did u just see that??

The Asian and Australian markets are already Monday due to the dateline. A lot of sell orders by some on both the gold and silver. Light sweet crude still @ 113.50. The dips seem to come in $5 increments.

 

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Oddly enough, because of what others tutored me in here, this makes sense.

 

Yeah, but the markets open at what? 6am China time? Given the fact all the other markets are shut down right now, this is the absolute prime time for manipulation.

Just look at the charts, volume was super-low, spiked, and we saw a sharp drop after a tight band of trading.

Classic manipulation.

 

Did I read that it's a holiday in some markets Monday?

 

It is the Early May Bank Holiday ("May Day") tomorrow in the UK. I think there is a public holiday in some of the Asian markets as well. TC

 

Remember the old Super Balls:u*meY:

Nice Bounce going on

 

This week should be very interesting.

 

you guys realize this isn't the US market right? there's always a disconnect from weekend prices and after hours prices from when the market opens in the US... I wonder myself what happened across the pond to make this drop myself but it might just the common disconnect we get in the markets...

I'd use this as a quick way to buy into some paper silver and then see where the market is when it opens in the US and if it's at $48 again sell off and reap a quick few bucks

 

Silver is back to $45.

 

It is the opening of the market so it may re-bound!

 

That is good! :u*meY::u*meY:

 

Actually the manipulation doesn't start until 10am Eastern USA time.

 

Silver dropping because CME raised margin requirements. Also the double silver short ETF took in a record amount of money the past week

Lack

 

Agreed

 

Well, eBay's not conveying much confidence. Buy It Now listings that would've lasted for seconds on Friday are just sitting there. You can get a 1964 Kennedy for $15 shipped, or a 1988 ASE for $47.95 shipped. I'm not jumping on either one, although I did jump on 15 ounces of sterling for $190. I'm willing to gamble that silver won't sink and stay below $15.

 

And now it's back down to $43.34.

If we could predict what will happen tomorrow, it wouldn't be much of a market, would it?

 

everyone knows that my predictions are the worst- but - this could just skyrocket out of this by Tuesday

 

So, having just heard the President speaking on CNN, I have at least one hypothesis for "what political event could have caused a sudden sharp drop in PM prices?" On the other hand, I don't know when the event actually took place -- it's more than a little chilling to think market participants knew about it five or more hours before it hit the news.

 

I'm waiting for PassantGardant to chime in...

Back to point, I'm pretty sure that today is Labor Day in most of Asia.

Also, the margin requirements went up 20-30% for non-floor traders and 10% for floor traders. That's going to shake most small speculators out.

DG: I didn't see that it was doubled... Given that requirements were already 50%, wouldn't that mean you need $1 for $1... or for all arguments, no leverage on margin?

 

I think it is more the exchanges increasing the margin on the futures. Thinkorswim platform on TDAmeritrade announced that the margin has been doubled effective this evening.