Silver getting crushed today

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

  1. -jeffB

    -jeffB Greshams LEO Supporter

    Neither one makes very good face masks, I guess...
    slackaction1 likes this.
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  3. panzerman

    panzerman Well-Known Member

    You should be into Paladium/ its seems unstoppable. I bought a Proof-70 0z. Paladium coin in 2018 for $895.00
    At the time it was a Russia PL. 25 Roubles=i oz. .999 collector coin. Back then the PT 150 Roubles was 1/2 oz.
    Shows how rare paladium is.....
  4. Kevin wu

    Kevin wu Well-Known Member

    I guess ppl sell gold and silver to cover stock lose.
    harrync likes this.
  5. Doc J

    Doc J Mr. Brightside

    I just left the National Coin Show, and the dealers didn't get the memo that silver (and gold) are down in price. I left with nothing.
    Hookman likes this.
  6. -jeffB

    -jeffB Greshams LEO Supporter

    I didn't think about all the folks needing quick cash to cover derivative positions! Ugh. I'm always glad that I'm not leveraged, but especially this week...
  7. EdThelorax

    EdThelorax Well-Known Member

    Think 2008.
    Cash crunch along with price is determined by leveraged paper.
  8. abuckmaster147

    abuckmaster147 Well-Known Member

    Hold, Hold,Hold, Its all we can do!!!
  9. abuckmaster147

    abuckmaster147 Well-Known Member

    Dang, I have $1150.00 gold I was gonna sell. I wanted to trade up someday should have done it I guess, Should Have , Could Have Would Have !!!!!
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Slowing growth fears. Massively reduced demand. Deflation.
  11. EdThelorax

    EdThelorax Well-Known Member

    I know most of you don't like charting/TA. For those that don't mind it.
    It's not perfect, but it was a generality from 6 months ago.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    For those of us who aren't proficient at technical analysis, can you tell us what this chart is trying to say? Surely even the biggest technical-analysis enthusiasts wouldn't claim TA was predicting the coronavirus panic six months ago...
    Randy Abercrombie likes this.
  13. medoraman

    medoraman Supporter! Supporter

    Silver is always a very weird bird. Yes, it is a PM, but it is also an industrial metal. You never really know which aspect of silver will predominate, meaning its never a good substitute for gold.
    harrync likes this.
  14. Endeavor

    Endeavor Well-Known Member

    In short, because the markets are no longer controlled by the market. The sum of mid-size and small-size funds or market participants used to be able to balance and compete with the large funds. That is no longer the case.

    Couple that with the large funds today having far superior technology and hence the fastest connections (time of trade execution in nano seconds), and they are able to squeeze all the blood out of any fish smaller than them.
    harrync likes this.
  15. Endeavor

    Endeavor Well-Known Member

    Be patient, I think there's a good chance of $2000 in the not-too-distant future.
    abuckmaster147 likes this.


    Probably selling now for some profit to offset other losses and cover market calls
  17. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    I know this will irritate some, but exactly what real physical value does gold have that makes it worth so much more than silver? Ok, Its yellow, you can flatten it until you can see through it ( space helmets, OK) , it is extremely malleable, it has antiseptic ability less than silver, and there is 19 times more silver on/in the earth than gold so why isn't it only worth about 20X the price of silver, the cost of purifying is lesser for gold than silver, so........ Jim
  18. CoinCorgi

    CoinCorgi Derp, derp, derp!

    It's shinny!
  19. panzerman

    panzerman Well-Known Member

    At one time (1700s) it was 8 to 1 for gold value to silver. Today its 100 to 1.
    Still, the total gold ever mined in all of history would be a solid cube 60X60X60 or a medium sized house. Paladium is at close to $3000@oz. / Gold is at $1600.
    But then Silver is severely underpriced/ as is gold. If a Country like the US would go back on gold standard, price would have to go WAAAAAY up
    The banking system/ Wall Street are doing their best to keep prices artifically low.
  20. medoraman

    medoraman Supporter! Supporter

    I think that would have been an historical anomaly. In ancient times, while in an area or two it was as low as 10-1 for a period of time, the ratio was usually 12 to 16 to one. In the US, before abandoning the gold standard, we were 16:1, so was most of the world.

    "If we went back on the gold standard"....we won't. No country will, since gold is only one, relatively unimportant commodity. No sense to tie an entire economy to the market whims of a relatively unimportant commodity. It would make more sense to tie it to price of oil, or a large basket of commodities if you wanted to go down that path.
  21. Endeavor

    Endeavor Well-Known Member

    It's less abundant and more attractive to humans I suppose.
    panzerman likes this.
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