Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. Santinidollar

    Santinidollar Supporter! Supporter

    The significant event in PMs is that gold broke below $1,300 and silver dropped down below $17.
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  3. sakata

    sakata Devil's Advocate

    Well, given that silver started out yesterday below $17 I don't see that as a big deal.
  4. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    16.85 currently
  5. Speedbump

    Speedbump Not a New Member

    Stock indexes aren't always a good indicator of movements in metals. The only connection I would count on between the stock market and metal prices would be the industrial demand for metals as a commodity.

    A bigger factor in Gold and Silver would be the safe haven plays. The USD is up today. While not always the case, but generally, when the USD moves, metals (safe havens) will move the opposite direction. Metals predominantly used for industrial applications like PGM don't always follow this.
  6. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    I don't consider it "panicking" when someone mentions a change in silver spot price on a bullion related thread. Don't know where the aforementioned panic is originating from. I'm not seeing panic in any form, only mentions of price fluctuations.
  7. Clawcoins

    Clawcoins Well-Known Member

    interesting brief downwards spike
  8. abuckmaster147

    abuckmaster147 Well-Known Member

    almost time to buy a bit!
  9. Clawcoins

    Clawcoins Well-Known Member

    I nearly bought a tube of ASEs
    But I want to pick up some gold to bring up those numbers instead.
  10. Bman33

    Bman33 Well-Known Member

    Trying to catch a falling knife! Let's see how low it goes.
    abuckmaster147 likes this.
  11. LA_Geezer

    LA_Geezer Well-Known Member

    What's your guess on the price of ASEs catching up with the trend?
  12. Bman33

    Bman33 Well-Known Member

    I don't know. All I do know is that anytime you can get ASE's for under $20 per oz go for it if you have the extra cash.
  13. Deadline

    Deadline Active Member

  14. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Silver is heading to the price range where even when an ASE is under $17.00, people will hesitate as they are concerned it might go a dollar or two below that. It is of little concern to bullion dealers as they do not just deal in physical like almost all here, they can contract on the paper market to replace their supply at the lower price also. If you buy from now on as it heads down, put it into a jar and label Sell @ 2.25 higher than you pay and wait. Eventually it will come back and you can sell it for a nice gain %. That is investing. If it never comes back, at least you will still be a hoarder and will be happy anyway :) Jim
    midas1 and LA_Geezer like this.
  15. sakata

    sakata Devil's Advocate

    Everyone should think that way except that I think $2.25 is way too low.
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think we should rename this thread "Platinum getting crushed today" as right now
    down 12.50 as a matter of fact Palladium has moved in to the third spot behind
    Gold and Rhodium, for a long time Platinum was always $50 or better, times are a changing !
  17. abuckmaster147

    abuckmaster147 Well-Known Member

    I have a feeling silver will be going down, With all this strong dollar, treasury Yields, Speculation.
  18. sakata

    sakata Devil's Advocate

    Silver is not going anywhere. But the dollar could temporarily be worth more grams of silver.
  19. -jeffB

    -jeffB Greshams LEO Supporter

    So, when silver goes up in dollars, but gold goes down in dollars -- which way did the dollar move?
  20. sakata

    sakata Devil's Advocate

    It went down in silver grams and up in gold grams. Silver and gold do not always move in complete sync. It is also possible for the dollar to go down in silver grams and for the Euro to go up in silver grams.

    World markets are unpredictable. If they were not then everyone would be a billionaire and it would cost $1m to buy a cup of coffee.
  21. Clawcoins

    Clawcoins Well-Known Member

    Dollar valuation changes compared to other currencies, ie, FOREX - Foreign Money Exchange based upon a bunch of national economics.

    Then of course, the Silver/PM charts go beyond the time they are officially traded in the US and go to world markets. Thus PMs vary throughout most of the 24 hours.
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