why the drop?

[mrrosado]

Does anybody know why silver and gold have tanked lately? This is great for buyers but really bad for those of you who have big collections.

[Engineer]

Does anybody know why silver and gold have tanked lately?

The beard spoke.
China is telling the beard to fluff itself.
Japan is saying "why you no want my yen?"
Vampire squid types are balancing their books for the end of the second quarter.
The oracle of Realcent said it would be so.

Am I missing anything?

[Sheikh_yer_Bu'Tay]

Does anybody know why silver and gold have tanked lately?

The beard spoke.
China is telling the beard to fluff itself.
Japan is saying "why you no want my yen?"
Vampire squid types are balancing their books for the end of the second quarter.
The oracle of Realcent said it would be so.

Am I missing anything?

I don't know, but here is my guess:

Metals hypesters over-sold the gloom & doom that will eventually happen (maybe). The gloom & doom is the result of the dot-com bubble burst at the end of the Clinton era. Bush had the dot-com bubble burst put to him so Clinton could exit stage left looking like a hero. Bush & the Repubs spent money like crazy and lowered rates for borrowing to paper over the beginnings of a depression. It didn't work. Then the Demos got the job to fix the economy and they have been out-Bushing Bush like madmen to keep paper-overing what is really happening.

It is working for now. $85 BILLION pumped into the economy every month to prop it up. Our National Debt is hitting an exponential event. The Dow looks good as long as more FRN's are printed to keep it all afloat. With the stock markets looking good, be it artificially, sheeple dump PM's to buy stocks at the wrong P/E ratio. It's a temporary fix.

Seeing the drop in PM's, people panic and dump them for a loss. It's the American way! Prices nose-dive. Miners had ramped up production to cover demand. Demand dropped for stocks and miners have a glut of inventory on their hands. Prices will drop further.

Realizing it can't go on forever, "The Beard" announced QE-Infinity will end soon. Stock buyers see the easy finance money going away and now stocks are going into a nose-dive as well.

The Oracle of Realcent isn't the only one saying prices will drop. My LCS said $17 weeks before that.

Again, the hypesters over-sold the emotional side of PM investment. Fear is never a good emotion to invest in anything.

That's my guess.

[ZenOps]

The US lost the templates for the new $100 bills and can no longer print them.

Just kidding

[TXSTARFIRE]

Speaking of the "new" $100 bills, anyone heard anything lately about when or if they will be released? I think they were series 2009 and have already been printed.

[Rodebaugh]

Speaking of the "new" $100 bills, anyone heard anything lately about when or if they will be released? I think they were series 2009 and have already been printed.

Rumor has it....This fall.

[Jonflyfish]

Does anybody know why silver and gold have tanked lately? This is great for buyers but really bad for those of you who have big collections.

The price moving up or down isn't inherently "good" or "bad". Positions can be taken on either side and hedged as well. Some were heavily short against their "stack" and recently began to buy more physical with the price protection hedge gains in excess of the current spot price.

Cheers!

[mrrosado]

Does anybody know why silver and gold have tanked lately? This is great for buyers but really bad for those of you who have big collections.

The price moving up or down isn't inherently "good" or "bad". Positions can be taken on either side and hedged as well. Some were heavily short against their "stack" and recently began to buy more physical with the price protection hedge gains in excess of the current spot price.

Cheers!

well for the guy who bought in at 1800 an ounce of gold or $30 plus an ounce of silver. He just took a big lost. I think he only has 3 options 1. buy more now that it costs less 2. hold and hope for the price to go up. 3. sell and limit the lost. I did number 1. For me as a collector its a silver sale. I bought my first ever 1/10th ASE Gold coin a few days ago. I also got 5 Canadian Maples.