According to CNBC, it's the worst drop since 1980. It will be interesting to see where it settles over the next few months.
Yes impressive, prices have gone down but not enough for me, I'm hoping for a bigger drop in the days ahead, it's definitely needed!
Surely the biggest dollar drop of all time, but that's not significant. Percentage-wise, it's still perilously close to Silver Thursday (March 27, 1980). I still think this is a dip, not a cliff. But I don't know if we'll see $120 again any time soon.
Silver will build a base in a wide range for a short time before resuming its torrid price increases.
But this was supposed to be a sustainable price increase based on fundamentals! (LOL). I've been saying for a while now that this had bubble characteristics, especially the last month.
The normal ebb and flow of the surf produces a lot of foam, and a lot of bubbles. But so does a tsunami. We'll see which way the water is going next week.
This drop was driven by political interest. As it started to drop profit takers jumped in. Then it dropped enough that a panic set in and boom. As soon as things settle down politically it will be back up to where it was and beyond.
