Quote: Speak for yourself! I mean, sure, I thought I was wrong once, but I was mistaken.
barryg Hey it could have been alot worst, I could have just loaded it all up into a wheel barrel and took it down to my LCS and cashed it in for $26.50 and $2200 or whatever the gold was... boy oh boy talk about beating my head against the wall right now huh?
But hey, in other news, the mining stocks are perking up now
I did read something yesterday about a "leaked" Russian memo that talked about Russia returning to a dollar-based settlement system. Which would strengthen the dollar. So that could have been some of the cause of that drop.
Yup. What a time to be alive. Who could have ever imagined.
Quote: Too soon?
Nope. That was yesterday. The Market has already forgotten. Mr. Market has already moved on and is looking ahead. That's why it's called the Futures market.
Quote: I did read something yesterday about a "leaked" Russian memo that talked about Russia returning to a dollar-based settlement system. Which would strengthen the dollar. So that could have been some of the cause of that drop.
I saw that. Bloomberg or whoever reported that they saw it circulating in the Russian media. Not that we could ever trust Russia, but the machines that run the money markets don't care if it's true or not. They only have 1 job, to react quickly. They algorithmically scan the news for key words and once it sees it, that's it, it automatically triggers the selling. And the domino effect.
Also a stronger dollar is bad for Gold, so anything that bumps up or could potentially bump up the dollar, automatically triggers the selling in metals. Watch the U.S. dollar index closely $DXY
This is the reason people are not willing to hold anything over the long 3 day weekend, and they'll probably be dumping assets at the end of the day today. And just waiting for Tuesday to get back in.
Too much uncertainty, too many days for geopolitical or economic headlines, truth social posts, fear mongering, or whatever may be coming next.
Interesting video from APMEX providing some explanations for what recently happened with silver in a historical context and some ideas of what we might expect to happen next:
The Shanghai metals market is closed for the next 9 days or something for Chinese New Year..
What some rightly call the paper silver casino, COMEX and LBMA, are in control until the 23rd.
I'm hearing a couple of predictions, maybe three, about what could happen (shenanigans included) while the biggest physical metals buyer is on vacation.
I do have a price level Low that I would consider "throwing in the towel", however if that level gets hit while Shanghai is closed I'm going to disregard it.
So, I'll just sit tight, try not to get bamboozled, and wait for Shanghai to re-open.
Quote: "The price can go up, the price can stay the same, the price can go down!"
Actually the first true prediction I have heard.........
Good one, up, down or sideways, that would be too easy though. But they mean how the different scenarios could start and play out. And by far my favorite one is how one action could actually cause the opposite intended effect and blow up. Potentially setting off a string of short covering and causing a squeeze instead of a crash.
Quote: So china is on vacation. So most likely the price is going to fall is that not a buying opportunity.
Absolutely.. COMEX & LBMA dump it, China picks it back up next week. Theoretically.
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Posted 02/13/2026 10:27 am
