You don't see the dip down to 6.50, on the chart at around 9 a.m.? It only lasted for about 10-15 minutes.
It's a glitch. Frequently, charts of daily price/volume activity contain input errors and occasionally trading errors that are later corrected. It's irrelevant.
I am waiting for silver to go back down to $5 an ounce. If gold goes back to around the $3-400 range, I will buy big in both of these metals. It is said that the economy will get much worse next year with increased layoffs and more bank failures etc. so perhaps the price of metals will come way down even more to the above ranges that I would like to see.
Could be if massive inflation doesn't send the prices skyrocketing. Does the Fed have any plans of slowing down the printing presses? We have a false spot price right now. There's obviously a disconnect from it, to what people expect to be paid for it right now. Check anywhere you want. It holds true. If it drops to $5 an ounce do you expect to pay $5 an ounce? Or 6, or 7, or 8?? I"d bet you still couldn't get it for less than $10 at that point. Nobody wants to sell at 12-15 right now at a spot price of 9.5-10.5. Who's going to sell at $5? I could be wrong. I know when it was 20+ I was hoping just to see 10 again. Now we're probably already to comfortable at that price again, if I had to bet. As somebody stated in another thread, right now, you might have a couple dollars of downside potential with $50 of upside potential. For what's going on at this point in time, if we aren't looking at the bottom right now, it's real close to it, as far as silver is concerned at least.
