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Silver just went of the deep end change the title again!!

Wow. That hills and valleys lately!

Silver rallying over $17

....and it's gone!

74.2 GSR.

Aren't metals supposed to be "stable investments"? This is crazy oscillation!

It's not the metal that's oscillating. It's the currencies.

barrytrot wrote:Aren't metals supposed to be "stable investments"? This is crazy oscillation!

That's the point. PMs have likely been manipulated over the past three years in an attempt to sully their reputation as stable investments in a risk-on environment. This drives all the nervous money back into dollar denominated investments.

Who knows. Perhaps the same thing is being done to the Ruble.

Why is it easier to believe that the price of PMs is somehow being manipulated downward, than to believe that almost everyone considers the dollar to be the safest bet on the planet?

"Never attribute to malice that which is adequately explained by stupidity." - Robert Hanlon

I think each condition feeds into the other. The fact PMs (particularly silver) is viewed as "unstable" supports the "safe haven" status of the dollar. On the other hand the fact that the dollar is stronger vs. most other currencies makes PMs that much easier to manipulate.

I don't have the expertise to point to a smoking gun that proves PM manipulation. However, if you view what has happened over the last three years** using the standard of motive, means and opportunity, it is logical to conclude that significant manipulation is highly likely to have occurred. In fact, I tend to view our current Federal Reserve System as one giant price fixing mechanism.

If you want to get away with graft and corruption it must either be too small to be noticed or too large to be seen.

**The most obvious examples are the large paper sell orders that show up during thin (or low volume) trading times. (Sunday evenings for example).

And silver is taking another $0.40+ free fall. We'll see where this one lands.

Guys, its a gift that won't last forever. Stack, stack, stack. Check the price of gold in RUBLES! (I know its a silver thread but couldn't find a chart). Gold is up 75% on the year in RUBLES! Up 14% in YEN! Up 11% in EUROS! Crazy stuff. We Americans because of the petro-dollar default of the world have cheap silver and gold available to us.

Keep stacking please!!!!!!!!!

silverflake wrote:Guys, its a gift that won't last forever. Stack, stack, stack. Check the price of gold in RUBLES! (I know its a silver thread but couldn't find a chart). Gold is up 75% on the year in RUBLES! Up 14% in YEN! Up 11% in EUROS! Crazy stuff. We Americans because of the petro-dollar default of the world have cheap silver and gold available to us.

Keep stacking please!!!!!!!!!

Seen this post 9 days ago and its funny how my mind keeps pinging on the notion of the USD being the prettiest girl in the room.

Its not that silver or gold are in the dumps. Its not that the USD is strong and valued high. The other currencies and state of affairs of international bodies are just more wishy washy than we are.

Greece is a mess.....waiting for a break from the EU.

Rodebaugh wrote:

silverflake wrote:Guys, its a gift that won't last forever. Stack, stack, stack. Check the price of gold in RUBLES! (I know its a silver thread but couldn't find a chart). Gold is up 75% on the year in RUBLES! Up 14% in YEN! Up 11% in EUROS! Crazy stuff. We Americans because of the petro-dollar default of the world have cheap silver and gold available to us.

Keep stacking please!!!!!!!!!

Seen this post 9 days ago and its funny how my mind keeps pinging on the notion of the USD being the prettiest girl in the room.

Its not that silver or gold are in the dumps. Its not that the USD is strong and valued high. The other currencies and state of affairs of international bodies are just more wishy washy than we are.

Greece is a mess.....waiting for a break from the EU.

Agreed.

Problem is that the USD gets prettier as the rest falter. During that time, PMs take a big hit. It's only when the world realizes that the USD isn't that pretty that we see a revaluation in PMs. And, at that time, you don't want any dollar denominated assets. Draining...

Yep. PMs *might* go down still further if the Euro tanks in advance of anything else, and the USD continues to rise. But no matter - buy PMs while they are cheap (in USD) and while you can get them. This isn't going to last forever. The USD is only pretty because her make-up is on thick, the dance hall is dark, and the easy choices are even uglier. When the party is over the lights go on, anyone going home with the USD is going to wake-up regretting it!

+1 Add some alcohol (i.e. market insanity) and you are spot on!!

My cost basis is $16. Woulda/Coulda/Shoulda sold in the high $40's and bought it back later... oh well, who knew.

When Ag was in the $30's and $40's, many gurus (and stackers) were saying if it ever did fall to $15, there wouldn't be any left to buy They are the same people who claim there are silver shortages, which have been proven to be completely bogus. These are just bullion dealer marketing ploys to get you to buy more silver.

TPTB are manipulating PM prices... there's no doubt about that. There are many reasons how and why, but it's very blatant and easy to see.

It's a gift at these prices, but IMO Ag is still headed lower. Bottom should occur around the $12-13 area, possibly $10. Buy whenever possible, but don't blow your load all at once. It could be a very l-o-n-g time before Ag gets anywhere near $50 again.

Cu Penny Hoarder wrote:. When Ag was in the $30's and $40's, many gurus (and stackers) were saying if it ever did fall to $15, there wouldn't be any left to buy .

There will almost always be sellers at ANY price because of the three D's (death, divorce, and desperation- i.e., someone being near bankruptcy). Look at this website- there are individuals selling who are not dealers even at these so-called low prices. Can you imagine how hard it would be to be a coin dealer if you had no sellers to buy from when things got cheap?

Recyclersteve wrote:

Cu Penny Hoarder wrote:. When Ag was in the $30's and $40's, many gurus (and stackers) were saying if it ever did fall to $15, there wouldn't be any left to buy .

There will almost always be sellers at ANY price because of the three D's (death, divorce, and desperation- i.e., someone being near bankruptcy). Look at this website- there are individuals selling who are not dealers even at these so-called low prices. Can you imagine how hard it would be to be a coin dealer if you had no sellers to buy from when things got cheap?

Just the other day my LCS guy was complaining about how no one wants to sell to him, especially gold.

silverflake wrote:Guys, its a gift that won't last forever. Stack, stack, stack. Check the price of gold in RUBLES! (I know its a silver thread but couldn't find a chart). Gold is up 75% on the year in RUBLES! Up 14% in YEN! Up 11% in EUROS! Crazy stuff. We Americans because of the petro-dollar default of the world have cheap silver and gold available to us.

Keep stacking please!!!!!!!!!

I might be too inexperienced but why is silver per ounce higher in different parts of the world? It would seem to me that silver is silver and should have a set price around the whole world. Are we talking paper here or actual physical?

Currency fluctuations. Silver is priced in U.S. dollars and the Ruble has lost much of its value vs the dollar.

$16.02 right now.

@17.01 now........

Oh well... it was fun while it lasted.

Don't despair just yet.

Interesting that we're seeing a change in PM trend vs some indices. Now while usd is going up PMs are going up. But oil is going down.

Downish January in equity market reminds me of the beginning of 2000. Everyone was thinking it could go nowhere but up. Everyone jumping in. Everyone chasing stocks. It has that feeling again. Dow was up 250, now not up at all. Could the smart people be selling into rallies?

Oil won't go to zero. I think that low may be in around $44.

PMs need to see GOLD bust through $1240 in a convincing manner to begin the next BULL higher. I believe that $1100 or so GOLD marked the end of the bear. Looking for a solid year in 2015.

My 2c.