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 Replies: 5,649 / Views: 461,571 |
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Pillar of the Community
 United States
3789 Posts |
trying to work up a update here with charts... but let me say this...
tomorrow and this week is one of those "make or break" weeks for gold and silver.
IF it holds in these areas for both gold and silver, it slows down the chances of lower prices. However on the flip side, if this breaks tomorrow or this week, much lower prices are on tap for both gold and silver.
if you are looking at making any purchases, whether one coin or several, I think you at least let the dust settle and see what happens. If you are still in the camp that you want to keep buying silver and gold and have no problem in seeing purchases that you made drop lower, well thats on you. However, I would say, if you MUST always be buying, well then let this week play out and you could get better prices, tho theres no guarantee that they wont be going lower on you.
proceed with caution is all I can say.
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New Member
Canada
46 Posts |
Prices on silver are dropping rapidly this morning.
It's too bad I didn't see your post earlier @yup.
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Pillar of the Community
United States
919 Posts |
That is strange Canadian. I see silver up almost 30 cents today.
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Pillar of the Community
United States
3789 Posts |
As I had said earlier this week, make a break week. Notice how we got an opening gap down, and reversal now in silver.
Long time followers of this thread should not be surprised at this price action. This type of pattern has happened before. Its simple what happened for today- silver found an area of support for now. I would look for a continued range before this resolves.
Again, this is not the time period to be buying anything until this range is resolved.
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Pillar of the Community
2087 Posts |
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Pillar of the Community
United States
5857 Posts |
Gold Prices Possibly Manipulated For a Decade: Professor
What? Is that a joke? Possibly!
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Pillar of the Community
United States
3789 Posts |
i dont believe in manipulation, I dont care about manipulation and means absolutely N O T H I N G to me. Whatever where ever the price goes, I follow, and it goes into the bank account. My question would be, why on earth, if you were an ardent believer in it, if say gold and silver were manipulated,,, why buy it "IF" the deck is stacked against u?  lol in anycase, LOTS of money to be made in trading gold and silver in various time frames, thats all I know and care about. |
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Pillar of the Community
2087 Posts |
Come on you guys...Libor was manipulated and the banksters have been paying compensation to gvts around the world.....now there is a s smoking gun suggesting they did the same with the PM gold fix. Yet two of you dismiss it out of hand. Lets put it another way..manipulation is regarded as a gvt activity. LIbor was a fraud so lets put it the same way: what the professeur is stating is there was possible fraud... she has been "retained by a legal firm that is apparently looking at court action against the London Gold market members. Libor fraud went on for many years as well. Or did you guys not watch the whole interview?
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Pillar of the Community
United States
5857 Posts |
I am not disagreeing with you austrokiwi, it is the title that's misleading on the article. And yes. I watched the whole interview.
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Valued Member
United Kingdom
183 Posts |
I actually believe there is manipulation of many markets.
(makes you more money, why wouldn't they, it's not like any
of them have any ethics)
this changes little however as they would not suddenly stop
manipulating it.
my way is that much of gold production today should average about
$1200/oz +-$100 so if gold goes below that for a significant period
of time, gold producers will simply scale back production.
thus gold should hold $1200/oz or have a very difficult time breaching it.
HH
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Pillar of the Community
United States
3789 Posts |
@Austrokiwi
to me, it means nothing, and changes nothing of how I trade and the same for those in my line of work.
Furthermore, I have heard of this sort of things for a long time and guess what,, nothing happens, nothing changes. Its always the same old, same old.
Thats how it always has been and how it always will be.
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Pillar of the Community
Australia
7096 Posts |
Quote:
$1200/oz +-$100 so if gold goes below that for a significant period
of time, gold producers will simply scale back production. I know of at least 6 Mines that have done just that. They just "Close the Gates" until the price is better. |
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Pillar of the Community
United States
589 Posts |
I am a follower of this thread and buy my ASE's from a US mint dealer here in NY. It would take silver to drop to at least 15.00 an ounce for me to see any bargain in price . Like other dealers / LCS he adds 5.00 to the spot rate plus local tax. So in conclusion this 1.00 up or down on silver prices is futile unless it takes a bigger plunge downward to buy. On the flip side I do get a better deal on 90% junk silver coins. |
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Pillar of the Community
United States
3789 Posts |
guys sorry I been very swamped... let me try and do something today.
I also tho want to say this-
Silver- gap down, and breaking its range, this increases our chances of seeing much lower prices. With the pattern we are seeing, its almost like stair stepping down each time. In other words, prices comes to a trend line and drops,,, catches a bounce, bases out for a couple of days, and drops again. this series of lower highs and lower lows will set up for much lower prices.
Should it continue this pace and pattern, I think its safe to say that silver once again re-tests its yearly lows. From there we have to see if it can bounce again or gives in, which breaking the yearly low does two things-
1- confirms the strength of this downtrend and how silver has still been in a downtrend.
2- we see much lower prices from here.
Gold bouncing/chopping around. It isn't doing much either. We have to see if it will also follow silver down.
To sum things up- if you are looking for higher prices, that at this point is mere wishful thinking. It will take a lot of steady buying to get these back up. If you are shopping for gold and silver, I think you step back and again, let the dust settle, wait for prices to come in.
be safe out there!
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Pillar of the Community
United States
3789 Posts |
heads up, silver breaking down here...
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Replies: 5,649 / Views: 461,571 |
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Posted 04/24/2014 07:08 am
