TXBullion wrote:JFF said the strengthening of the USD would be the realcent black swan, anyone remember that?
beauanderos wrote:The most recent margin hike increases by the CME being instituted at close of market on Monday... and the unwarranted leakage of rumors referring to this... caused the precious metals market chaos we just witnessed. As well, undoubtedly TPTB piled on more shorts to the panic selling caused by pending margin calls. The question is... what is their motivation for hammering the markets THIS much in such a short of time? 27% down silver in two days. My guess? This is a pre-emptive strike on their part to discourage participation in the ongoing metals bull that is due to EXPLODE when an event occurs (that they know about, but we are unaware) in the very near future. What that event might be, and in what time frame it might occur are sheer speculation... but know this. They do not operate without motive. Is it only due to the approach of options expiry? I doubt it. There is something much larger afoot. A Greek default? Bank of America bankruptcy? I could go on and on. Now is not the time to become discouraged at recent paper losses, keep the faith and keep stacking.
beauanderos wrote: The question is... what is their motivation for hammering the markets THIS much in such a short of time? 27% down silver in two days. My guess? This is a pre-emptive strike on their part to discourage participation in the ongoing metals bull that is due to EXPLODE when an event occurs (that they know about, but we are unaware) in the very near future. What that event might be, and in what time frame it might occur are sheer speculation... but know this. They do not operate without motive. Is it only due to the approach of options expiry? I doubt it. There is something much larger afoot. A Greek default? Bank of America bankruptcy? I could go on and on. Now is not the time to become discouraged at recent paper losses, keep the faith and keep stacking.
rainsonme wrote:I think this may be one way of shoring up the Euro. Eliminating one more escape route for people fleeing the Euro as that crisis deepens. Greek restructuring (default with a nice name) is priced in, but there is much more risk with Italy, Spain, Ireland, and many of the biggest Euro-banks are under-capitalized if they have to revalue the bonds they hold. Besides the dollar, gold and sivler would be the obviouse escape routes; causing a crash in these PM ahead of a rush out the Euro door.
TXBullion wrote:JFF said the strengthening of the USD would be the realcent black swan, anyone remember that?
68Camaro wrote:Silver has taken a huge hit for sure. What will be interesting is the practical market today. Will $26 gold, which briefly showed its face overnight, actually appear on the NY market today? Will any actual physical dealers honor that and actually sell at that rate? (If so, I see a 100 oz JM bar in my future today.)
For all the "pounding", gold hasn't had the same percentage drop, and is still near its all-time high. Still higher than when I slowed volume buying it 2 months ago. Silver they can let (and others encourage to) fall, but gold seems to have a more solid bottom under it - national interests are buying gold first, and competing for that, so the discounting of gold is far less. 1600 gold? It was hardly any time ago that that seemed far off.
The extreme volatility has been predicted. Hang in there.
Rodebaugh wrote:Do the greek have a gold reserve? Could they now or in the near term move it to help with debt?
Just running ideas around in the brain.
Rodebaugh wrote:Do the greek have a gold reserve? Could they now or in the near term move it to help with debt?
Just running ideas around in the brain.
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