Spot silver price down at $24.68 at the time of this writing, how low will it go?? What is happening, anyone know reason for the drop? Below $25 isn't that big of a deal, not yet anyways, just letting y'all know that's all! Anyone notice the premiums drop?
I've been reading where new Chinese regulations are causing U.S. traded Chinese stocks to tank. Margin calls are requiring liquidation of unrelated positions. I don't know how much this is affecting PMs (if at all), but it's having a transitory affect on non-Chinese stocks. https://markets.businessinsider.com...ina-crackdown-companies-didi-education-2021-7
I don't care if spot prices are up or down - only if the premiums charged are going up or down. Many of the videos or articles published saying silver is going way up - are by people in the business of selling physical silver - and/or by prophets of the end of the dollar or great economic collapse . P.S. I own physical silver.
I agree personally. Summer vacation season, along with inflation of other things generally, is leaving less for PM. I have noticed ancient coins weakening myself as well, (they also had a heck of a runup).
What goes up must come down, and the beat goes on, and on! Just like empires and dynasties; Chinese dynasties have fallen, Spain, Roman, England, Russian, Mongolian, and more. Want to guess what Super Power is NEXT, Not I... Silver is but a fart in a rain barrel in my opinion. Sorry for the rant, enjoyed your post, thanks.
And just like that, 24 hours later and it's back up. Such is the world of investing, commodities, speculating, precious metals, crypto, currencies, etc.
I did my part, put a bid in on 2 10 ounce bars at $2 over spot. No doubt that I'll get out bid now with this sharp increase