Silver getting crushed today

Prime interest rate, if I recall correctly, hit 21.5 percent during that time.

 

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But, but, but, how can the dollar be strong? Don't you realize it's all a house of cards and it's soon going to collapse? I mean, I did read that here after all.

 

And if you read it on CT in a bullion thread, IT'S GOTTA BE TRUE, right?

 

Glad I sold all my Silver at $19.15 on Saturday.

 

Earlier this year silver was at almost $13.50....

 

Yup, and earlier this decade it was $40. Your point?

 

Buying opportunity is all I see...

I unloaded a lot over the summer. Time to start re-stocking.

The Dow has been going sideways for over 18 months now - all propped up by propaganda and politics thanks to Yellen and the ilk that are trying to make the market.

I've been saying it for a year now, I don't trust the stock market and I think it's in for a huge correction again.

 

Since I just Sold my whole stash (and made a nice profit) I am going to wait and if it gets to $16.00 I'll reload. I think I am going to look at gold now.

 

I plan on buying and selling and making millions.

 

He said he had been waiting for silver to break $14 and was still waiting. I pointed out it was below $14 earlier this year...

 

One word: Kruggerands

 

I have an allowance to buy each month. I pick up what I can at whatever the price is that day. I have some that was purchased in the $30's, some at $15. If you sit around waiting for some price point, you could be sitting around for a long time.

Its like sitting around waiting for a better iPhone. There will likely always be a better one coming, so have fun waiting...

 

I'll patiently wait thank you. I may never buy again.

 

I've been curious at the profit potential of silver vs gold as price moves. I just haven't done any analysis. Anyways, storage is a lot less for gold than silver.

And I'm only looking at US Gold. AGE and other gold coins/commems.

 

Yup, and I wasn't watching. LOL I was filling in my small coin collection holes and not looking at silver/gold. Now I'm looking at Silver/Gold again.

 

Sounds like dollar cost averaging. I ran the numbers if I would have bought $400.00 every month on the 7th starting in January. I would have broke even or lost a little money if I sold it all on October 1st like I did this year. I don't know what years of doing DCA would be like but for me entering in at key periods like January of this year worked for me.

 

... and it will be again. "Maybe not today, maybe not tomorrow, but soon..."

 

Silver is down 3.3 percent and gold is down 1.1 percent.

Initial jobless claims this morning were fairly well below expectations which probably is translating into a stronger case for a US rate hike and a stronger dollar. Dow also down more than 100 though that index typically is weak the day before the monthly jobs report.

The Fed isn't doing anyone any favors with this rate increase drama. But Yellen and company appear to be basking in their own egos. I have read several critiques saying the result of this drama is the opportunity for investment market manipulation. I'd be hard pressed to argue to the contrary.

 

Limbo Rock. "How looooow can you goooo?" Hopefully lots and lots lower.

BTW, the entire original purpose of the Fed's Open Market Committee is to "manipulate" short-term interest rates. It's why they exist. The impact on other asset classes is secondary and caused by market supply and demand, with the facts surrounding short-term rates creating or removing "opportunity costs" as a backup alternative. When short-term interest rates rise, even from "crazy low" up to "ridiculous low", every other option has more opportunity costs and will come under pressure. This fall in PM's is all about "pricing in" an expectation of 25 basis points in December and 50 basis points more by next December.

Of course, the market will over-compensate, as it always does, and then it will find the real equilibrium eventually. I am a beliver in the precise opposite of the Perfect Market Theory. I believe markets nearly ALWAYS get it wrong.

 

I'm glad it's going down I haven't bought much this year due to the price.
I seen it at 17.17 today on JM bullion's site. I wanted a 100oz Bar but wasn't going to pay over $2,000 for it. Just so I can lift some weights....