Silver down almost 30%?

[Brujah]

Weren't some of you guys buying, and pimping Silver?

[Vendzilla]

thats a pretty big drop, gold will be next probably

[Sam - Mr. Skin]

About time to get in.

[marketsmart]

Originally Posted by sam_mrskincash

About time to get in.

i would go long right now...






.

[strobi]

I'm still buying strong... The bigger the drop the more I'm buying! (but even more gold)

[Failed]

The prices for gold and silver are incredibly inflated. There is no way they can retain such a price.

[Vendot]

Silver was majorly inflated. The issue with silver was the fact that margin requirements changed, and that caused a major sell off. Now that they have been changed, im wondering could this be a buying opportunity or does it have further to fall because I doubt they will change again in the near term.

I believe gold has a lot more support as central banks were buying on the dips. Im sure we'll see a correction but I seriously doubt we will see sub $1300 this year. There are just too many buyers out there.

[woj]

Originally Posted by strobi

I'm still buying strong... The bigger the drop the more I'm buying! (but even more gold)

That's exactly how people get cleaned out...
but hopefully I'm wrong and it will work out for you

[Vendot]

http://www.bloomberg.com/news/2011-0...old-falls.html

[Chris]

yup i bought
yup i was buying at the 33-38 mark and i sold at mid 40's

i didnt have alot but everyone was saying to dump it and i did

this is why i dont invest lol

[Lint]

Originally Posted by strobi

I'm still buying strong... The bigger the drop the more I'm buying! (but even more gold)

Good luck!

[strobi]

Originally Posted by Lint

Good luck!

I'm close to 40% invested in gold (bullion, physical gold).

I'm not a silver pro, but we'll meet again in 5 years and we'll see.

I'm not selling one gram of gold under 2500$/ounce.

I'm not that big in silver, because of the extreme volatility.

[Vendot]

Well im no gold bug but people who invest majorly in gold have a philosophical position which is something they usually wont move from. Its not about "investing in gold" its about protecting your wealth and holding your money in a non-paper form.

I doubt many gold investors would really care if the gold price collapsed even to half the price overnight because theyre taking the position that the alternative is (in many cases) holding USD paper currency that they know is worthless. And if the market takes another view, they take the position that the market is wrong.

You see the point? And that position is reinforced when central banks around the world are also buying gold.

[strobi]

Originally Posted by Failed

The prices for gold and silver are incredibly inflated. There is no way they can retain such a price.

The way QE1 and QE2 are going, and the way the EU is allready in talks about defaulting Greece and Spain, you ain't seen nothing yet!

Gold isn't more "expensive" than is was way back in 1999.

I would be scared shitless if I was invested 100% in stocks right now!

[strobi]

Originally Posted by Vendot

Silver was majorly inflated. The issue with silver was the fact that margin requirements changed, and that caused a major sell off. Now that they have been changed, im wondering could this be a buying opportunity or does it have further to fall because I doubt they will change again in the near term.

I believe gold has a lot more support as central banks were buying on the dips. Im sure we'll see a correction but I seriously doubt we will see sub $1300 this year. There are just too many buyers out there.

I predict short term, silver will fall to 32$, maybe as low as 28$.

But in the long run, it could go up to 200-500$/ounce... But that's speculating

Just buy gold and thank me in 5 years from now ;)

The commodities bull has an easy 5 years to run!

[vyper88]

pics or lies :D

Originally Posted by strobi

I'm close to 40% invested in gold (bullion, physical gold).

I'm not a silver pro, but we'll meet again in 5 years and we'll see.

I'm not selling one gram of gold under 2500$/ounce.

I'm not that big in silver, because of the extreme volatility.

[strobi]

Originally Posted by Vendot

Well im no gold bug but people who invest majorly in gold have a philosophical position which is something they usually wont move from. Its not about "investing in gold" its about protecting your wealth and holding your money in a non-paper form.

I doubt many gold investors would really care if the gold price collapsed even to half the price overnight because theyre taking the position that the alternative is (in many cases) holding USD paper currency that they know is worthless. And if the market takes another view, they take the position that the market is wrong.

You see the point? And that position is reinforced when central banks around the world are also buying gold.

Spot on! Bravo :-)

I wouldn't like to be holding a shitload of dollars right now... The US dollar is doomed.

[Houdini]

I own physical in the low 30's, but at these levels, still picking up some. I've been trading SLV options for a few months now and rode it up, and rode it down. There's so much shadiness behind the drop it's comical. Tons of margin increases in a two week period, the COMEX is in the brink of default, huge amount of speculation, it's a fun ride. Extremely volatile, but damn there's a killing to be made. The problem is, when it goes up so fast, it has to come down to correct itself to keep going up. So many people ate shit last week and they could have protected themselves by buying some damn puts. Hopefully, they'll learn next time, but I doubt it.

I like how people say silver and gold can't go up anymore, and they'll put their money in things like Apple and Netflix (P/E 65 - Will make the best short of the year award) which have gone up 400 and 500% over the past year or two. Yet, a 60% increase in silver is crazy lol. Trillions in US debt and increasing, a dropping dollar, higher inflation, increase in commodity prices, complete uncertainty about the US economy - all makes for a higher spot price.

[strobi]

Originally Posted by vyper88

pics or lies :D

Oh it's true allright. I buy Kruggerands and Vrenelis (swiss 20 franks).

You can easilly stock them in a vault at your local bank branch.

I'm not going to post pics on a pornforum lol

[potter]

Wait, you mean buying stock at it's peak isn't how to do it?! Damn!

[Vendot]

Originally Posted by strobi

Just buy gold and thank me in 5 years from now ;)

The commodities bull has an easy 5 years to run!

I have gold and I can see gains on a 5 year time horizon, absolutely for sure. However, I dont think gains are going to be as strong in 2012 because at some point by middle of next year, interest rates on the majors (EUR, USD, GBP) are likely to start creeping up.

Gold will continue to go up partly because interest rates are likely to stay low ie below the rate of inflation and therefore youre losing purchasing power in real terms on paper money. But even so, that is one less reason to hold gold.....

[vyper88]

i just edited this due to total noobness.. googling now :D

[will76]

Originally Posted by Brujah

Weren't some of you guys buying, and pimping Silver?

buy silver! can't lose, it never goes down. It will be over $100 soon. Everyone buy Silver, its 100% guaranteed to go up in value, everyone should buy it.... empty out your retirement savings and put it all into silver....

Originally Posted by potter

Wait, you mean buying stock at it's peak isn't how to do it?! Damn!

buy high, sell low! thats the way the idiots do it that think they can't lose and wait till the last minute to buy into the hype.

[jigg]

interesting drop

I don't understand the infatuation of buying "gold" not in coins but just some 1s and 0s that sit on a computer somewhere, in a pyramid scheme that is the market full of imaginary money.

My understanding is that there isn't enough gold out there, even the US gov't gold reserves are supposedly in the low hundreds of billions at today's prices. So just like in the monetary system now there will be those who're left holding bag

I'm pretty sure the Fed can put the kibosh on gold as a legal currency rather easily, no?

[The Demon]

Originally Posted by Brujah

Weren't some of you guys buying, and pimping Silver?

It's called a correction and it's leveling out. I bought some more bars at $35 which isn't too shabby. It'll still get to $100+/oz.

[Vendot]

Originally Posted by jigg

I don't understand the infatuation of buying "gold" not in coins but just some 1s and 0s that sit on a computer somewhere, in a pyramid scheme that is the market full of imaginary money.

Yeah but the point is, what is the infatuation with buying dollars? Im laughing because if anything, the US dollar is imaginary and the biggest pyramid scheme in history...

Its just a piece of paper issued by a government with a promise to pay - the only thing holding it together is "convention". A US dollar has no intrinsic value so if you print enough of it, there is more of it chasing after assets and thats what causes inflation. Gold cant be printed because its a precious metal so its a more finite source of money - this is one reason why its a logical store of value versus paper money.

[facialfreak]

Originally Posted by strobi

I'm still buying strong... The bigger the drop the more I'm buying! (but even more gold)

Me too!

My father died last week, and the inheritance I am receiving from him will be put about 70-80% into silver, so this dip in the price is a godsend .... allowing me to make my next purchase at last year's prices!!!

I have been following silver for a long time, and know/understand the catalysts that are partially responsible for the price drop.

I have been calling silver for the past almost a year .... and I also predicted it was going to be a bumpy ride!

In the past year, silver is still up 20%, and in the past 5 years, its still up 135%. Gold in comparison is up 28% over the past 5 years.

One of the catalysts that influenced the silver "panic" of the past two weeks, is that Eric Sprott - of Sprott Asset Management Inc - who managed a very large silver ETF portfolio, sold off almost 75% of his silver stocks (approx. $35M), causing market analysts to take note and to "panic". If Eric is selling silver, shit must be about to hit the fan!!

What they did not see coming, is that Eric is re-investing all of the cash from the sale of his silver ETFs into ..... you guessed it - physical silver bouillon - and he is buying it at almost 30% less than he would have been able to do so 3 weeks ago!!

A perfect example of how the rich keep getting richer!!! David Rockefeller used a similar bullish move in 1929 to influence the stock panic responsible for the great depression, and all the while, he was buying masses of people's promissory notes for literally pennies on the dollar!!! This is very similar to how the Rockefeller Dynasty was obtained.

Like previously mentioned ... the sharp drop in silver prices in the past two weeks, smart investors will see as a GOLDEN (pardon the pun) opportunity!

BUY UP - AND THEN BUCKLE UP AND ENJOY THE RIDE!!!

http://www.theglobeandmail.com/globe...rticle2007195/

[mikesinner]

a lot of Americans still believe the end of the world is coming in the next 50 years so they will probably keep buying in.

[facialfreak]

Originally Posted by mikesinner

a lot of Americans still believe the end of the world is coming in the next 50 years so they will probably keep buying in.

I'm not American ....

and did you not get the memo? The end of the world is DECEMBER 21, 2012!

[Vendot]

Originally Posted by facialfreak

I'm not American ....

and did you not get the memo? The end of the world is DECEMBER 21, 2012!

If enough people believe that, can you image what it will do for the gold price in the week before?

[Michael O]

I save my money in physical gold.
I live in Thailand and the gold you buy here is 96.5% pure.
Its up from around 14,000 to 21,000 in less than 2 years and it beats having money in a Thai bank or saving in US$ and its easy to take with me if shit hits the fan here and we have to get out.

Gold in Thailand is the same as cash money, it can be exchanged at anytime for the current rate.

[facialfreak]

Originally Posted by Vendot

If enough people believe that, can you image what it will do for the gold price in the week before?

Oh ... I am sure the week before is going to be very active on the commodities markets ... There are all kinds of religious and astrological zealots out there!!

I am actually banking on this to an extent ...

The people who knew Y2K was all tinfoil hat propaganda made a quick buck ... and history DOES repeat!

[u-Bob]

Originally Posted by Vendot

Yeah but the point is, what is the infatuation with buying dollars? Im laughing because if anything, the US dollar is imaginary and the biggest pyramid scheme in history...

Its just a piece of paper issued by a government with a promise to pay - the only thing holding it together is "convention". A US dollar has no intrinsic value so if you print enough of it, there is more of it chasing after assets and thats what causes inflation. Gold cant be printed because its a precious metal so its a more finite source of money - this is one reason why its a logical store of value versus paper money.

I agree except for 2 minor things:
* Since they took the USD of the gold standard, there is no longer such a thing as a 'promise to pay'.
* what you call 'inflation' (prices going up) is actually 'price inflation' (which is caused by 'inflation' (expansion of the money supply)). </pet peeve ;)>

[strobi]

Silver up almost 15% since it's 33.15$/oz low... We're almost back at the start I bought another 2 kilos (60 oz). Who's buying?

[webairalex]

Originally Posted by strobi

I'm close to 40% invested in gold (bullion, physical gold).

I'm not a silver pro, but we'll meet again in 5 years and we'll see.

I'm not selling one gram of gold under 2500$/ounce.

I'm not that big in silver, because of the extreme volatility.

[Si]

Where are you guys buying?

[Pipecrew]

Originally Posted by strobi

Silver up almost 15% since it's 33.15$/oz low... We're almost back at the start I bought another 2 kilos (60 oz). Who's buying?

atleast your smart, i always love watching the GFY armchair quarterbacks who are like "sell now!!" and they don't own shit or when silver dipped "ohhh look at silver as an investment ha ha"

If those morons had bought when it dropped to 33 like 3-4 days ago, they would have made 6 dollars an ounce right now at 39. Instead they sit and post on gfy trying to hate all day.

[Pipecrew]

Originally Posted by Si

Where are you guys buying?

I would buy the american eagles (uncirculated) or the 10oz silver bars depending on your budget. The Bars have an over spot rate much lower than the eagles.

[L-Pink]

Originally Posted by facialfreak

Me too!

My father died last week, and the inheritance I am receiving from him will be put about 70-80% into silver, so this dip in the price is a godsend .... allowing me to make my next purchase at last year's prices!!!

They don't have probate in Canada with a mandatory minimum waiting time for disbursement of funds?

.

[HomerSimpson]

[SmokeyTheBear]

Originally Posted by jigg

My understanding is that there isn't enough gold out there, even the US gov't gold reserves are supposedly in the low hundreds of billions at today's prices.

if you took all the gold in the world that has ever been discovered it would fit inside an olympic size swimming pool

[Lint]

Originally Posted by SmokeyTheBear

if you took all the gold in the world that has ever been discovered it would fit inside an olympic size swimming pool

Exactly, and it is a pretty fucking useless metal, too.

[Barefootsies]

Originally Posted by facialfreak

A perfect example of how the rich keep getting richer!!! David Rockefeller used a similar bullish move in 1929 to influence the stock panic responsible for the great depression, and all the while, he was buying masses of people's promissory notes for literally pennies on the dollar!!! This is very similar to how the Rockefeller Dynasty was obtained.

[PornoMonster]

Not sure if this is posted or not, but Silver will go higher than $50 IF it can get past that $50 glass Ceiling.

Many people have sell orders in around $40.30 ish.
I do see it rising super fast again, but I expect it to hit $65 maybe even $85 easily if it can go above $50 for a couple of days.

[PornoMonster]

Originally Posted by Lint

Exactly, and it is a pretty fucking useless metal, too.

Found a good use

[Houdini]

Originally Posted by PornoMonster

Not sure if this is posted or not, but Silver will go higher than $50 IF it can get past that $50 glass Ceiling.

Many people have sell orders in around $40.30 ish.
I do see it rising super fast again, but I expect it to hit $65 maybe even $85 easily if it can go above $50 for a couple of days.

I agree. Watch for a double bottom next week down to mid 30's, then short covering/squeeze will start the rebound. If/when it hits $50, we will see $5 and $10 dollar days and it will sky rocket.

[marcop]

[JFK]

Originally Posted by facialfreak

Me too!

My father died last week, and the inheritance I am receiving from him will be put about 70-80% into silver, so this dip in the price is a godsend .... allowing me to make my next purchase at last year's prices!!!

I have been following silver for a long time, and know/understand the catalysts that are partially responsible for the price drop.

I have been calling silver for the past almost a year .... and I also predicted it was going to be a bumpy ride!

In the past year, silver is still up 20%, and in the past 5 years, its still up 135%. Gold in comparison is up 28% over the past 5 years.

One of the catalysts that influenced the silver "panic" of the past two weeks, is that Eric Sprott - of Sprott Asset Management Inc - who managed a very large silver ETF portfolio, sold off almost 75% of his silver stocks (approx. $35M), causing market analysts to take note and to "panic". If Eric is selling silver, shit must be about to hit the fan!!

What they did not see coming, is that Eric is re-investing all of the cash from the sale of his silver ETFs into ..... you guessed it - physical silver bouillon - and he is buying it at almost 30% less than he would have been able to do so 3 weeks ago!!

A perfect example of how the rich keep getting richer!!! David Rockefeller used a similar bullish move in 1929 to influence the stock panic responsible for the great depression, and all the while, he was buying masses of people's promissory notes for literally pennies on the dollar!!! This is very similar to how the Rockefeller Dynasty was obtained.

Like previously mentioned ... the sharp drop in silver prices in the past two weeks, smart investors will see as a GOLDEN (pardon the pun) opportunity!

BUY UP - AND THEN BUCKLE UP AND ENJOY THE RIDE!!!

http://www.theglobeandmail.com/globe...rticle2007195/

let me correct that for you

BUY UP - AND THEN BUCKLE UP AND GET TAKEN FOR A RIDE!!!

Unless you buy at high volumes, what is the sense of doing it ? Waste of time

[Coup]

The precious metals bubble about to pop?

[The Demon]

Originally Posted by Coup

The precious metals bubble about to pop?

I've got to hand it to those idiots who are calling precious metals a "bubble". That's some hilarious shit, advertising your lack of knowledge.