Silver And Gold Prices Are Tanking. Who Knows Why?

I agree. Wish I had 100,000 handy. If I had a lot of money right now, I'd be buying up stocks and gold and am going to buy what silver I can afford at this time.
I would not buy Palladium and feel sorry for those who didn't sell when it was over 2400. That sting will hurt for awhile.
It will all come back and in short order once this blows over.
But this will pass.

and I am frequently wrong about markets so don't go by my thinking.

The problem is there is limited, to zero silver that wholesalers and dealers have in inventory that they want to sell..

Why sell silver that you paid 18$ for a few weeks ago at today's market price?

Nobody likes losing money.....especially coin dealers!

Due to COVID-19,
World trade has partly diminished, shocks and scares (sorry, stocks and shares) prices are in free fall, World tourism has been almost temporarily wiped out, and local businesses that depend on groupings of people (restaurants entertainment tourism) have had their trade severely restricted by Government edicts.

Everybody wants cash.

That also applies to those who cannot afford to keep hold holdings of PM's, because they need immediate money as well.
Result?
PM prices are falling as well.

PM dealers have been caught with whatever inventory they have, and won't sell what they have for a loss. Like everybody else they are in business to make a profit.
So, they temporarily close their businesses.
Those with PM holdings have been caught as well, and for the same reason.

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My advice to PM holders who have other forms of income, is to
stop wringing your hands with worry.

All pandemics has passed in the past. COVID-19 will do so as well. Some health authorities have guessed that the COVID-19 threat will last for something like six months.

in 1932 America was in the depths of the Great Depression. In 1936, (4 years later), the American economy for the most part, was well on the way to a strong recovery.

That will happen to PM prices as well.
Then, COVID-19 will be a distant memory.

So, we all should know what we can do with our toilet paper!

and gold is doing just fine.. it is silver that has broke it's leg..

Leverage is killing us. But the Buffets are having a field day buying the drop.

Sell when you have to, buy when you can afford it.

What is cash eventually worth if they keep the presses going and give it to everybody, we went from a 20 billion deficit to a 100 billion deficit in one day(Canada).

There is no harm in being over-prepared for a situation such as this, but over-reaction to the extent it has been is unnecessary. While its understandable that business and money flow in markets is indeed heavily hindered by quarantines and the virus, it will pass. While control and treatment of a virus, which by nature infects exponentially more and more people with ever generation is very difficult, therefore warranting quarantines- the hoarding and brash "apocalypse preparation" shown in some states amidst a two-week shelter in place is ridiculous. With that said, if you have an avenue through which to purchase precious metals as a back-stop in case the economy worsens, I would recommend doing so.


Jasper