What happen to the Silver Market?

Sad

 

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If you're referring to the sudden drop this morning in prices, I wouldn't anticipate it lasting that long. We are coming up to the time of the year when prices hike up.

 

What happened to the Silver Market?

The same thing that happened to the gold market.

Yesterday = $1,781.50
Today = $1,734.60

Thats an entire silver eagle and then some!

 

When you have 500 ounces. It hurts a little.....

 

Looks like a good time to buy some.

:yes:

 

I hope this helps lower the price on the 25 year ASE set that is coming out next month, time will tell.

 

agreed... Great dip to buy Au or Ag on..

 

...assuming you believe long term it is going up from here. Many people bought on the dips of tech stocks in the late 90's, until the dips kept going down.

Not saying silver will, but always be aware your overarching investment decision has to prevail versus opportunistic buying. Do not buy more silver on lows just because its "low", and do not oversell silver on highs just because its "high". If a person already decided they wished to add to their silver position, then of course take advantage of lows. I am just saying never make an investment decision simply by new lows. Its a great way to chase an investment all of the way down.

I simply think these movements show how much emotion is in the silver market today. Stocks have always had these emotions, but PM usually did not, (except 1980). I do not know if today is good or bad, just saying a person should be aware of how much investor emotion is dictating this market versus industrial demand.

 

If you will check it's all of the markets today.

 

Haven't seen that movie in a while. I should rewatch it.

 

I'm doing so as we speak. It seemed appropriate. lol

 

Definitely. I loved those two brothers, and it may be Dan Ackroyd's best movie.

You ever see those two brothers do a cameo in Eddie Murphy's "Coming to America"?

 

Down almost $4.00 right now.

 

I hope it goes back to $6 / oz. Then maybe I can buy some of the coins I've been waiting to buy that are currently jacked up in price because they happen to be made of a "precious" metal. That goes for gold too, I hope it goes to $300/oz.

 

In this economy $50 to $100 down is simply a temporary set back and sometimes a good opportunity to pick up a few rounds or bars. In a nut shell, the prices of both silver and gold went up faster than anyone could imagine so they need to balance out a little. The fascinating part is neither one of these PM's have ever been as high as they are now even if there was a little down noted. :thumb:

 

It's not just the precious metals.

All markets worldwide are on a fear factor decline right now.

The DOW Jones, dropped 500 points today alone.

From CNN Money:

NEW YORK (CNNMoney) -- Stock prices continued a precipitous fall Thursday afternoon, with the Dow industrials plunging more than 500 points, after dour comments about the economyfrom the Federal Reserve sparked a broad sell-off.
Seeking safe havens, investors continued to move into U.S. Treasuries, which rallied and pushed the yield on the 10-year note down to new record lows.
Worries about a slowdown in global growth pushed most commodities lower, with copper, oil, gold and silver prices all plummeting.
Investors also remain jittery over the fate of Europe. "There's still a lot of fear that September 2011 is going to be a lot like September 2008," said Larson, "and Greece is going to play the role of Lehman Brothers."
The market's fear gauge, the VIX (VIX), spiked 17% to 43.65. Any reading above 30 signals investor worry.
http://money.cnn.com/2011/09/22/markets/markets_newyork/index.htm?hpt=hp_t2

 

Thanks for the words of encouragement

 

Bottom line...

You're either holding silver for the long term...many many years...or you're speculating in the short term fluctuations of an impossible to predict market.

If you're doing the former, you may not have even noticed today's move. If you're doing the latter, you're one of the folks Billy Ray's talking about...and "analysis" on a numismatic forum probably isn't going to help much.

 

It's just my boss sold 5000 oz when it was at $43 and just replenished it today and made massive gain. I wish I could of kept up. That's why I was sad