They blame the drop on the new Fed chair - Dollar goes strong, historically PM suffers...then they say it's "profit taking" - as if every major investor is taking a profit ALL AT ONCE...
I'm not buying it... I AM buying more PM right now today.
EVEN IF we hit hyper inflation or it drops to $50 - the writing is already on the wall...gold and silver are money - everything else is credit.
Don't sell your stack... When the new system comes around you'll still hold "real"
I hope it does drop further, because I need to stack more and the only reason you'd worry about a price drop is if you're planning to sell. BUY THE DIP AND SAVE, FOLKS.
I have reinforced gauntlets on my hands made of silver.
Seems to be that way....It's end of the month - they jacked up the buy in again and I guess their shtik is to squeeze out the little players and take their lunch...
The arbitrage with Shanghai tho...Like $30-40 - Less now looks like it bounced back around $85 right now
I punched out at 95 after getting my face ripped off. Had a bunch in AGQ which is 2X return..and losses. If I stayed in I would have got other parts of my body along with it. Staying out of paper for while and buying some equipment for my business where I can 4X my money....and buy more real shiny. They just put the real metal on sale. My physical is at the bottom of a lake and not going anywhere.
From what if read is true COMEX is screwed in March and might have to settle via force majeure. They're going to drive the price down as much as they can.
I cashed out my IRA and put it all in physical as Covid hit. The penalty was worth it.
Interesting we just had a bounce at 2pm. I watched a video a few days ago that gave times on price "settlement" for the day. 2pm was one of them. Back to work...I have to quit looking at charts and graphs on days like this..lol!
We live in a Clown World of inorganic heavily manipulated markets….essentially casinos. This was a coordinated multipurpose shakedown. Retail FOMO investors were given an acid bath and a shave. Imagine all of the stops that were hit. It’s also a great market maker tactic to pummel metals down to bargain rates in order to accumulate more. The little guy doesn’t stand a chance. Your motive for stacking metals however should not be for speculation and a quick profit, but as a hedge for when the SHTF.
COMEX raised rates again on margin accounts. Which forces smaller players to sell their positions and close out. That's why silver and gold tanked earlier. But now they're both just about back in the green.
Now that's plausible on 1/30 - they HAD to sell because they couldn't put up the extra cash...
Hey, that's the nice thing about not having any Gold or Silver, you don't have to worry about the price.
And I strongly advise you to KEEP YOUR MOUTH SHUT, about what Gold or Silver you have a your home address. You just told ever thief in the world that you have 64,000 dollars, at current spot, at home, thieves that would kill you just for looking at them wrong.
Remember, a safe is only as secure as your willingness to NOT open it when a gun is held to your loved ones head.
Rule of thumb, buy the dip. Look at chinas prices, the premiums vs the spot. Ueah, this is manipulation. Silver alone is scarce enough. Ditch the fiat. Grabbed 10 ozs at 84
When social media, every damn thing you read is preaching that Gold is going to reach $10,000 - $50000 and Silver is going to $500, and Gold/Silver fever starts to take hold, everyone including me is emotionally driven to sell the farm and Buy. Buy, Buy, that tells me that someone is rocking a major psyop.
I don't completely buy that the smartest financial guys, that have all the worlds money is stupid, and has lost control. I am not going to buy gold and/or silver at these near record price, because I would be doing so on the back of emotions, and that is never a good thing. Some small voice in my gut tells me we are being played at present.
It also seems a lot of people holding silver, minus myself, are saying buy buy buy so it raises their profit margins. But really, there's no reason to do that here. This community makes zero effect on the price. Imagine if you'd bought yesterday. Feel like a fool today.
I can't understand why when Silver is at record price, there seems to be a stampede to buy. But the when price has major dip, everyone rushes to sell to convert to FIAT.
Silver doesn't swing $45 IN A DAY! Either a solid silver meteor crashed overnight or a lot of paper has been thrown around.
Watch it he like 5 years of volume traded today. Yet Shanghai is still at $122. Great dip buying time.
Everything MAY be going to shit...
They blame the drop on the new Fed chair - Dollar goes strong, historically PM suffers...then they say it's "profit taking" - as if every major investor is taking a profit ALL AT ONCE...
I'm not buying it... I AM buying more PM right now today.
EVEN IF we hit hyper inflation or it drops to $50 - the writing is already on the wall...gold and silver are money - everything else is credit.
Don't sell your stack... When the new system comes around you'll still hold "real"
This reeks of an orchestrated move of desperation, in an attempt to try and sway the resolve of those holding precious metaks right now.
Maybe it'll shake retail...
But they're WAY overboard on short sales and they're fighting to try not to get wiped out....
Here's the Shanghai price right now, BTW in USD: $122.xx
https://metalcharts.org/shanghai
I hope it does drop further, because I need to stack more and the only reason you'd worry about a price drop is if you're planning to sell. BUY THE DIP AND SAVE, FOLKS.
I have reinforced gauntlets on my hands made of silver.
83 we turned a corner,banks will be buying back,after they pushed people out.
Seems to be that way....It's end of the month - they jacked up the buy in again and I guess their shtik is to squeeze out the little players and take their lunch...
The arbitrage with Shanghai tho...Like $30-40 - Less now looks like it bounced back around $85 right now
Nothing has changed long term.
They are still,short of shiny.
Bought silver to round off my stack. Crash always happens after I buy. I guess I should have warned you all before I pulled the trigger. Sorry.
Crash always happens after I buy.
So your the one that keeps crashing the market! You must be buying one hell of a lot.
Thanks Richard Cranium.
At least GME is up...
Feels like a classic Kenny V move. Too bad it's all paper bullshit
23.45 isn't exactly up
more like sideways
I bought some mining stocks today.
Great time to buy!
Great time to buy a sluice box, I need to get out panning again.
I punched out at 95 after getting my face ripped off. Had a bunch in AGQ which is 2X return..and losses. If I stayed in I would have got other parts of my body along with it. Staying out of paper for while and buying some equipment for my business where I can 4X my money....and buy more real shiny. They just put the real metal on sale. My physical is at the bottom of a lake and not going anywhere.
From what if read is true COMEX is screwed in March and might have to settle via force majeure. They're going to drive the price down as much as they can.
It's a bloody mess, I transferd some money from my 401k,hopefully I have it on Monday. I will buy mining stocks.
I cashed out my IRA and put it all in physical as Covid hit. The penalty was worth it.
Interesting we just had a bounce at 2pm. I watched a video a few days ago that gave times on price "settlement" for the day. 2pm was one of them. Back to work...I have to quit looking at charts and graphs on days like this..lol!
COMEX Silver (SI) futures settle during the 13:24:00 to 13:25:00 ET window, using the VWAP of trades in that interval.
I was right. Those bastard dumped paper right before 2 so they could settle at the low. That explains the bounce.
can you explain the details of how to do this for the layman please?
Open a trade account like Fidelity or e- trade.
Type in AG for first majestic or HL for hecla or whatever mining company you like.
We've discussed miners several times this past week,click on my name and scroll back for more info.
Thank you. I will look into doing this.
Let me know if you have any trouble or questions. I'm not the biggest expert but I know the basics.
I will not give financial advice....
Eh I get it. I don't think people that give financial device should give financial advice lol. They're all ms Cleo as far as I'm concerned.
Profit taking.
Riiiight ...all at once...
Story hour is hilarious lately
My stack is for after the banks lose it all. Not selling!
I'm glad I don't have any Gold or Silver stack. I'd be afraid of leaving the house least someone steal it.
We live in a Clown World of inorganic heavily manipulated markets….essentially casinos. This was a coordinated multipurpose shakedown. Retail FOMO investors were given an acid bath and a shave. Imagine all of the stops that were hit. It’s also a great market maker tactic to pummel metals down to bargain rates in order to accumulate more. The little guy doesn’t stand a chance. Your motive for stacking metals however should not be for speculation and a quick profit, but as a hedge for when the SHTF.
we'll eventually see the prices of paper silver and physical silver become unrelated to one another. in fact it's probably starting now.
Buy.
Now that's plausible on 1/30 - they HAD to sell because they couldn't put up the extra cash...
I agree.
Hey, that's the nice thing about not having any Gold or Silver, you don't have to worry about the price.
And I strongly advise you to KEEP YOUR MOUTH SHUT, about what Gold or Silver you have a your home address. You just told ever thief in the world that you have 64,000 dollars, at current spot, at home, thieves that would kill you just for looking at them wrong.
Remember, a safe is only as secure as your willingness to NOT open it when a gun is held to your loved ones head.
Yeah well said. Trust me, learned the hard way about this myself.
No idea if it's a reputable/reliable source, but silver in Shanghai right now is $123.21.
Whole Lee Phuck, the phuckery is asstronomical!
https://goldsilver.ai/metal-prices/shanghai-silver-price
There isn't just ONE gold or silver price, and some markets are more honest / less corrupted than others.
TaQo posted the Shanghai market in a comment; I'll put it here as well: https://metalcharts.org/shanghai
While the London price was $85, the Shanghai price was $122. Hm.
Here's info from Kitco on four different (more Western-oriented, probably less physical-market consonant) markets:
Hong Kong HONG KONG 10:31 (HKT) gold 5,168.10 silver 110.47 platinum 2,495.00 palladium 1,938.00
India MUMBAI 10:31 (IST) gold 5,215.10 silver 111.10 platinum 2,506.50 palladium 1,919.00
UK LONDON 10:31 (GMT) gold 5,057.40 silver 99.12 platinum 2,252.00 palladium 1,813.50
USA NEW YORK 10:31 (EST) gold 5,046.75 silver 98.85 platinum 2,301.50 palladium 1,832.50
Shorty won't give up
Rule of thumb, buy the dip. Look at chinas prices, the premiums vs the spot. Ueah, this is manipulation. Silver alone is scarce enough. Ditch the fiat. Grabbed 10 ozs at 84
Superconductors and etc from China/Taiwan are coming back to the US, China's block on silver sales driving the price up won't last forever.
When social media, every damn thing you read is preaching that Gold is going to reach $10,000 - $50000 and Silver is going to $500, and Gold/Silver fever starts to take hold, everyone including me is emotionally driven to sell the farm and Buy. Buy, Buy, that tells me that someone is rocking a major psyop.
I don't completely buy that the smartest financial guys, that have all the worlds money is stupid, and has lost control. I am not going to buy gold and/or silver at these near record price, because I would be doing so on the back of emotions, and that is never a good thing. Some small voice in my gut tells me we are being played at present.
It also seems a lot of people holding silver, minus myself, are saying buy buy buy so it raises their profit margins. But really, there's no reason to do that here. This community makes zero effect on the price. Imagine if you'd bought yesterday. Feel like a fool today.
Yea that would hurt.
I can't understand why when Silver is at record price, there seems to be a stampede to buy. But the when price has major dip, everyone rushes to sell to convert to FIAT.
Just take emotion out of it, and use dollar‑cost averaging.