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What Happens To Gold And Silver Next? Look Out Below?

 
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Pillar of the Community
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United States
3986 Posts
 Posted 04/16/2013  02:44 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I have to agree also with basebal21 with NOT putting your eggs in one basket, unless you're a gambling person.

The Mercury Dimes Specialist!
Current project: US Dansco 7070 Album
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Valued Member
Canada
281 Posts
 Posted 04/16/2013  07:49 am  Show Profile   Bookmark this reply Add miggs to your friends list Get a Link to this Reply
ALL US WHOLESALERS SOLD OUT OF ALL PHYSICAL SILVER!
http://silverdoctors.com/cnt-sold-o...ical-silver/
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Australia
7096 Posts
 Posted 04/16/2013  08:09 am  Show Profile   Bookmark this reply Add trout1105 to your friends list Get a Link to this Reply
So what is the US market buying and selling NOW
FIAT silver
You have to remember that the silver/Gold market along with the Fiat dollar is all held up with smoke and mirrors.
After all the dust settles with this slump some "Fat Cat" will have made a bundle out of thin air on futures of something they never paid for or owned in the first place
UNBELEIVEABLE
Pillar of the Community
United States
1126 Posts
 Posted 04/16/2013  08:31 am  Show Profile   Bookmark this reply Add stewart to your friends list Get a Link to this Reply


Is the beginning of the divergence of the
Paper and Physical Markets?........Maybe.

One thing I feel for sure. We are spectators to the making of history.

"May You Live In Interesting Times"

We definitely are....

The Best of Luck to all

Valued Member
United Kingdom
90 Posts
 Posted 04/16/2013  09:10 am  Show Profile   Bookmark this reply Add Arksun to your friends list Get a Link to this Reply
You gotta laugh at the amount of tin foil hat wearing conspiracy crap that follows these things :D we have a generation growing up that believes any old blog or YouTube vid and takes it at face value just cause it tells you everybody else is lying. EVERYBODY has an agenda, including such conspiracy sites trying to make money from either selling coins themselves, or DVDs, or books, or a newsletter subscription with supposed inside information. The naive generation, that don't bother to do enough research to discover the real truth that usually lays somewhere in the middle from all these stupid extremist viewpoints.

Getting back on topic, price going back up, but some sellers keeping the high markups, watch those premiums people!.
New Member
United States
25 Posts
 Posted 04/16/2013  09:17 am  Show Profile   Bookmark this reply Add IRONBRGDE to your friends list Get a Link to this Reply
I'll be interested to hear from Yup today given that a upward correction appears imminent today. I also noticed the bullion premiums haven't moved.
Valued Member
United Kingdom
90 Posts
 Posted 04/16/2013  09:36 am  Show Profile   Bookmark this reply Add Arksun to your friends list Get a Link to this Reply
I imagine Yup will say have patience, these are the after effect ripples, wait for the overal trend to stabilise. But this is quite a big ripple at +2.6% and rising, making for itchy buying trigger fingers, including mine! :D
Pillar of the Community
United States
2168 Posts
 Posted 04/16/2013  09:52 am  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
I think the PMs went up so fast, dealer had no choice but to raise premiums. They would have taken a bath if not. Once the market settles down, most likely the premiums will come down as well. A lot is being made up with premiums (20% over spot on 90% halves yesterday). A friend paid lower at the local shop than what I saw online and no shipping etc.
Pillar of the Community
United States
4742 Posts
 Posted 04/16/2013  09:52 am  Show Profile   Check barryg's eBay Listings Bookmark this reply Add barryg to your friends list Get a Link to this Reply
My long-term faith in PMs is gratified by today's rise, but now I'm thinking I should have bought more yesterday instead of waiting for prices to drop further...

My Coin & Currency Collection
(Dansco 7070 and 8100 albums, Proof Type Set, U.S. Currency Type Set & Foreign Bullion Collection)
Pillar of the Community
United States
3787 Posts
 Posted 04/16/2013  10:02 am  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
Hey guys

Yea not much to say at this point, there's the bounce that was talked about. First thing- silver and gold, IF they are going to turn this around is fill yesterdays gap and proceed to fill the next gap above that.

If you are watching at home and don't have access to a futures account please use GLD and SLV as a easy proxy.

Lets focus on silver since most everyone seems to be interested in it. SLV first, the strength of the bounce today should be measured by making a higher high in terms of price over yesterdays high of day. So, price wise on the SLV you first are looking for it to clear 23.10 today.

and yes, this is all about being patient and letting time work things out. These two elements define much of trading, and they give clues as to what is the progression of the trend and the same applies here to gold and silver.

Don't waste your time on anticipating, rather become a student of the price action... so consider yourself a student of the price movement and reactions of gold and silver.

At this stage, yes, be patient. Don't allow yourself to feel like its all patched up and good. As I have stated, one should expect some sort of upward price movement after the selling that has occurred.

So keep an eye on it. again two useful proxies would be SLV and GLD if you don't have a futures account... and these are widely traded on the desks. I;ll be looking to see if they fade the bounce today, if they do, how swiftly is it done? This tells us how strong the resistance is to gold and silver moving higher.

Pillar of the Community
United States
1126 Posts
 Posted 04/16/2013  10:03 am  Show Profile   Bookmark this reply Add stewart to your friends list Get a Link to this Reply
Jefferey Christian of the CME during a meeting of the CFTC.
Explaining the FACT Not CONSPIRACY that there is 100 times
more PAPER Silver in the market than Physical Silver
Available. AKA "FIAT SILVER".

http://www.youtube.com/watch?v=0NAL0C6BO-4

Also try reading the Comex Rules where sales can settled
in Futures Contracts if they so choose, even though you may want the metal.

Paper as Metal
To address a temporary problem of liquidity, COMEX has systematically created an even bigger problem for investors. The exchange allows investors to make good on their futures positions with gold and silver ETFs rather than the real assets, thus opening up the door for hugely distorted market prices.

How it Works
Under the clause 104.36 in the COMEX rulebook, exchanges can take place on the exchange as long as the products meet certain criteria. After sorting through legalese, investors find that the criteria isn't as demanding as one would expect from a multi-trillion dollar exchange, but is actually quite loose. COMEX requires that exchanges be made in economically equal products. For instance, a 1000 ounce silver futures position can be used in the delivery of 1000 ounces of silver, despite their inherent differences.



This creates immense problems for investors, as well as the exchange itself. First, no silver actually trades hands, but only a silver derivative that has supposed claims to silver. Second, the exchange-traded fund is economically similar in that it has equal worth to the same amount of silver; however, investors cannot receive physical delivery from the ETF issuer. In essence, purely derivative investments are equal to physical metals in the eyes of COMEX, even though the reality is quite different.


Or even the actual Metals Default at ANB AMRO recently
a place to purchase metals, that tells it's customers
that they can not have the metal, they have to take cash.

Letter To Customers of ABN AMRO

As of 1 April 2013, ABN AMRO will switch over to another custodian for precious metals gold, silver, platinum and palladium.
Therefor we will handle and administer your investments in precious metals differently. In this letter you can read more about this.

What will change?

With the transition to the new custodian, the following will change for you as of 1 April 2013:
You can no longer request physical delivery of your precious metals from us
• Do you execute orders for precious metals via the ABN AMRO account? Then the settlement of these orders are henceforth performed at bid price or ask price prevailing on the market for precious metals. No longer on the mid-price, as you are used to.
• The bid price is the price that merchants offer for precious metals that are put up for sale, when you sell.
• The ask price is the price at which traders want to sell precious metals, when you buy.
• From now on we will value the precious metals in your investment portofolio at bid prices

You can read more about investing in precious metals in Chapter 4 (Supplementary conditions for investing in precious metals) of the Investment Account Conditions. You can find these at abnamro.nl/voorwaardenbeleggen

Should I do anything?

You don't need to do anything. We will make sure to handle your investments in precious metals in this new way from now on.

Any Questions?
If you have any questions about the contects of this letter, then you can call our Investment Service Desk op 0900-1474 (from abroad +31 76 5491755). Our employees can be reached monday to friday from 8am to 6pm.

Do you want to palce orders or do you have other questions about investing, then you can call your advisor or the Capital Hotline at 0900-9215 (from abroad +31 10 2407004). Our employees from the Capital Hotline can be reached monday to friday from 7am to 8pm and during the weekend from 9am to 5pm.

We are happy to assist you,

With kind regards,
ABN AMRO Bank N.V.



There are those that actually do the research,
And it is NOT Conspiracy it is just Fact.
Edited by stewart
04/16/2013 10:29 am
Bedrock of the Community
United States
12757 Posts
 Posted 04/16/2013  10:06 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
You gotta laugh at the amount of tin foil hat wearing conspiracy crap that follows these things :D we have a generation growing up that believes any old blog or YouTube vid and takes it at face value just cause it tells you everybody else is lying. EVERYBODY has an agenda, including such conspiracy sites trying to make money from either selling coins themselves, or DVDs, or books, or a newsletter subscription with supposed inside information. The naive generation, that don't bother to do enough research to discover the real truth that usually lays somewhere in the middle from all these stupid extremist viewpoints.


Couldnt agree more like those articles of massive shortages and silver running out in the world or saying you cant buy anywhere. I can go online right now and order some if I want.


Quote:
I imagine Yup will say have patience, these are the after effect ripples, wait for the overal trend to stabilise. But this is quite a big ripple at +2.6% and rising, making for itchy buying trigger fingers, including mine! :D


I do remember him saying to expect a bounce back and a new range to be set and regardless what he says Id still say 1 day doesn't make a new trend. Personally I'mnot shocked to see some come back with the MASSIVE hit it took the last 3 days. Even if this holds and the days still young or repeats for a day or two were still down a good chunk
Valued Member
United Kingdom
90 Posts
 Posted 04/16/2013  10:11 am  Show Profile   Bookmark this reply Add Arksun to your friends list Get a Link to this Reply
Hey Yup7676,

What's your thoughts on what IMF is saying today about growth actually not being as good as expected having an impact on raising price of gold again?.

http://www.marketwatch.com/story/im...st=bigcharts
Pillar of the Community
United States
3787 Posts
 Posted 04/16/2013  10:16 am  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
Just a quick note- GS is having their CC right now and I wanted to pass this along this a copy and paste that was sent to me , I wanted share this with everyone, the conspiracy and manipulation folks might like this- Goldman Sachs call: "looks more like liquidations of crowded positions" on the commodities sell-off than fundamentals I guess.
Pillar of the Community
United States
3787 Posts
 Posted 04/16/2013  10:23 am  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
@Arksun

ehhhh you know, I pretty much stay out of forming any opinions based on economic reports, only because the forecasts can change on a dime seeing that they are being placed out in the future,, and between here and now many things can change.. either get better or worse.

I have no doubt tho, my opinion only, that everyone should own a % of gold and silver no matter what happens. They do have their place and function.

As I have mentioned before, tho, the markets are forward looking, they discount things. At this stage, I would think going forward the markets are pricing in better economic conditions and therefore the reduction in gold and silver prices... which doesn't mean either that they are going to zero.
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