Any idea why PM's are dropping like a rock?

Well just wait till North korea pulls the trigger ...then you'll see a spike in all PM's. and a large hole just north of the 38 parallel with smoke coming from it. :sniper:

 

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Quite. I suppose their knickers are feeling a tad bunched up at the moment........

 

yuk yuk.

 

Always enjoy an appearance from Quincey M.E.

 

you have a way with words my friend

 

We must be near the bottom for silver. Aren't we?

 

There's 3 factories in my area that employ over 500 employes that have warned their employees they will close in the next 6 months. Where i work we are limping by and have been for 5 years. The economy is not getting better, the banks, Wall Street and the auto companies are just building another bubble with Bernankoly money. Right or wrong, I'm out of debt and holding my PM ready to bust open a bottle of PM bubbly!

 

I am thinking that this deflation may continue for a while until it turns, and then hyperinflation will rule the day. Then PM's will be the thing that literally saves us. That's why I hang onto them, as insurance. I really don't know what will happen, but having some kind of asset will be a good thing if it gets crazy.

 

Silver's bouncing up today. Is it a dead cat bounce or the start of a real rally? Who knows. I think I'll see if I can get some today anyway. it's always good to get some silver on a Friday.

 

Bounce is off jobs numbers and implications thereof. Question is will it hold my guess is not long. Now if that is hours or days I have no clue but I am expecting lower prices next Friday than today barring North Korea actually doing something besides throwing a temper tantrum. I post this as part of a discussion not because I feel I have expertise or unique knowledge.

 

It will probably keep sliding unless the gov't and bankers start propping the price up again like they did for the past few years.

 

Silver's not dropping like a rock, volatility is normal and we're not going to see Ag far under $20 for long again in my lifetime either.
That said, the PM retrace should continue through July or so - we will likely see Oct./Nov. 2010 prices - and better buying opportunities await for stackers and accumulators.
My two cents.

 

*null*

 

I think that we have hit the bottom and are on our way to rising again, primarily because the Large Commercial Net Short (LCNS) positions are equal to their lowest levels in a decade. The big boys are ready to go long, and that appears to be confirmed by today's moves during NY hours which is very often a down move, but today was a decisive uptrend.

Additionally, anything sustained much lower than where we are would break the QE1 uptrend from 2008. We arguably dipped beneath it this week but are now back to the steady hill climb. As money printing has only expanded since then it does not make sense for that trend to break until and unless interest rates go up, but interest rates can't begin to rise until QE stops, and with today's jobs numbers there is little doubt that QE must continue.

The line in the sand for gold is 1600, where its wedge that began at $1900 reached fruition. If gold holds below 1600 expect downside. If it holds above 1600 expect upside. Right now we are watching the struggle unfold for 1600 which is yet to be decided. Silver will follow gold's lead, and gold's move will most likely be decided by the integrity of the banking system. If people lose faith in banks then we will have another 2008 or worse, all paper will be sold, and we will get firesale prices on gold and silver as long as inventory is available before the next big leg up in this bull market. If faith in banks is maintained then we should see a more gradual rise with little downside, since this would have been the bottom.

 

why are you folks getting into a tizzy over fluctuations?

 

The bull market in gold is already over. It broke the uptrend line, retried and found solid resistance. Silver follows.
The gov't can't keep propping up precious metals through QE forever.
It's like evrything has been tried to keep the prices up (QE, lowering margins) and it's not enough anymore.

 

eventually life will go on. sorry guys.

 

Make it $16 an oz again......please:hail: Daddy wants more!

 

I don't know what it will do, but it's up today, and I bought 2 ounces to celebrate. They are .999 bars from Panamerican silver. They are all wrapped in plastic and cost me $30 a piece. Whatever silver does in the future, I have them now.

 

I also got two 2013 Canadian Silver Wood Bison 1oz (Wildlife Series) coins in the mail today. Those Canadian wildlife series are my favorite.:hail: