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Yesterday Hong Kong printed above $22.20 on silver, then we suffered a pullback on this side. Was that the low people were expecting? Overseas markets are up strongly right now. Actually, it looks like short-covering in London, doesn't it?

Yes it does, or there are some serious long positions being created on yesterday's dip.

If we see a continuation of shorts covering in New York, rather than the usual takedown, we could see $22.50 today in silver

well thats a nice open!

beauanderos wrote:If we see a continuation of shorts covering in New York, rather than the usual takedown, we could see $22.50 today in silver

...or more

Price discovery is a shocking thing. When new highs are made, there is no over head resistance... nowhere for price to bumps it head. Most people never seem to get this. Gold could easily go to $1400 by the end of this week! Silver to $23 is not out of the question.

Market Harmony wrote:

beauanderos wrote:If we see a continuation of shorts covering in New York, rather than the usual takedown, we could see $22.50 today in silver

...or more

Price discovery is a shocking thing. When new highs are made, there is no over head resistance... nowhere for price to bumps it head. Most people never seem to get this. Gold could easily go to $1400 by the end of this week! Silver to $23 is not out of the question.

PTTG

Huge open. Both are running well today from the start. Lets see if it holds by noon.

Wow, it is really moving. Can we get $1 today on silver? Gold is going crazy too.

What is amazing (but doesn't really surprise me, I've been expecting this) is that these pricing jumps will likely accelerate in the coming days, weeks, months. What used to be pullbacks will be pounced on by those sidelined waiting for dips, and rather than retrenchments we will probably only see periods of consolidation before more leaps higher.

Just wish I had more of both....

that graph from todays kitco silver page looks like a hockey stick!

I have a buddy that has been preaching $25 / ounce by the new year. He may be right.

Holy Crap! Look now 22.64

$22.71, up $0.84 since yesterday.

WOW The dollar is getting hammered down. Silver is up over 4% on the day! This whole investing in precious metals thing is pretty schizophrenic as I cheer the increase in value of my coins while watching the dollars we still use every day lose value. I am sure glad I have my little hoard of shiny metal as even though it is quite dense it acts as a very good life raft during the financial sinking of our ship of state. I thought this week their would be a pullback in precious metals. I guess I should have bought some more last week!

blackrabbit wrote:while watching the dollars we still use every day lose value.

The good thing is the impact of the dropping dollar isnt felt right away. Still time to buy essentials before hyper-inflation kicks in.

you know, everyone has been preaching that the dollar is going to die and PM's are underpriced and due a upside correction. Yet, when that time comes, everyone wants to deny that it is happening. Pullback, shmullback... the bull is out and running down sheep

AGCoinHunter wrote:Just wish I had more of both....

I feel your pain...