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Silver is up over 60c today... what's your first reaction?

Looks like most of us are thinking the same. Silver goes up and then silver goes down.

$USD goes up SILVER goes down. $USD goes down (like today big time down), SILVER goes UP!

From Bloomberg Business -
"Some investors are showing signs of disinterest in precious metals. Holdings in exchange-traded products backed by gold and silver headed for weekly declines.

While Fed officials suggested that rates will rise at a slower pace than some economists forecast, their forecasts showed they still expected higher borrowing costs by the end of the year. The central bank’s benchmark rate has been held near zero since 2008. "

Another source (forget who now) said much of activity is short covering.

Patience my friends, patience... tptb have to take down the dollar. But they won't let the price of PM's continue higher indefinitely, at least not until their end game has run it's course...

Since I'm in for the long term, I stopped watching the PM prices everyday. Even large losses/gains in the paper prices of PMs do not affect me at all anymore.

The bankster boys are not going to give up easily... they will rig it until the very last second.

The manipulation may go on for years. Extreme patience is required. Hang in there gents... we will win in the end.

No biggie because this particular change was largely due to the change in value of the USD.

It's raised my eyebrow. Stay aware, watch the details continue to buy when opportunity presents.

uthminsta wrote:Silver is up over 60c today... what's your first reaction?

The first thing i thought was "That's a bummer". This is the second time in a few months that silver shot up while i was considering a second buy for the month. Not concerned though. As i said, this is the second time in just a few months...lots of volatility means i'm sure i'll see a price i think is a great bargain again soon. Also, the reason i didn't pull the trigger has to do with me buying the part of the business i run from my employer...three to six lean months then i just might have doubled my income.

I've been at this a long time. I have bought at $4 spot and at $38 spot, the key is I try to add something to the stack every month. When I first started stacking sometimes I was only able to afford a single 90% half for the entire month but I hold something they can not print in to infinity and have not regretted a single purchase I have ever made.

60¢ doesn't even seem like all that big of a move compared to a lot of what I've
seen over the last 9 years. (It was 2006 that I noticed "something" was going
on in precious metals and started looking at it more closely.)

As options go I see everybody says that silver will fall back and I hope they are right. I remember trying to buy silver during the high $40's and not much silver was added to the stack at that price. With depressed silver and gold prices for the last two to three years I was able to add quite a bit. I also hope that silver recedes to new lows so as to pile on more ounces. I stack for the long term. Cost averaging is my goal for today and into the future.

When silver gets above $25, wake me up.

It will probably go up but it might go down.

Then it will go up then down.....