SUN JAN 23 - MON JAN 24 === GOLD AND SILVER STARTING THE WEEK OPENING UP For a change.

rise before the great fall
what do they call that?
oh wait....dead cat bounce

for all the sukkas

Come on... don't be a dick. This is nothing more then a huge coordinated attack by MANY involved parties. Silver is a strategic asset and the physical needs to be acquired in mass (China) and now.

If you are an idiot go ahead and sell. You will be sorry down the line.

PMs just got slapped down in the last several minutes...

...silver now just below the 27 dollar mark.


With any luck, it'll go down even further and we can all buy a lot more at better prices.

I have been hoping for $23 silver this winter. I am waiting patiently to buy. I have been very undisciplined in the past, buying when it was on an upswing. I really think it is going to drop several dollars over a few week period very shortly. I have about $1500 to invest and this will be the last time I will buy for awhile.

I am afraid that you could be right. This could very well be the last time that any of us have to buy at such low levels. However, a lower spot price doesn't necessarily mean a lower purchase price for us to buy.

With demand increasing exponentially everyday, it could be as soon as Thursday (after expiry) when the suppressed price begins to automatically correct itself with the real price.

The real price is showing its ugly head on e-bay and with lots of the silver dealers online, who are charging ever increasing premiums on what little supply they have.

I may check with my local dealer tomorrow. I bought a few weeks before Christmas (for gifts) at $30 for 1oz rounds. The spot price then was $27+. He had normally been about %4 over spot, so I wonder if he is going to keep his prices at $30 and above as the spot prices drop below $27.

Thirty an ounce is a very good price. That is what the majority of the APMEX silver products are selling for. I doubt if the real price is going to get much lower than that.

Spot would probably have to drop below 25 and then we might see 29 or 28, but lots of dealers like round numbers and will probably hold at thirty.

That's the way it was when the spot price was in the teens. The real price stayed at twenty no matter where in the mid to upper teens that the spot price went.

However, if you search ebay, the "buy it now" prices are hovering around 35 to 38 an ounce, with some listings going far above that.

...and forget about winning an auction, because the sniping on precious metals is just outrageous, the last few seconds getting absolutely ridiculous with dozens upon dozens of bids being submitted.

Last Edited by Cool Music Guy on 01/24/2011 04:45 PM

Just browsing through the silver listings on ebay right now, and I'm starting to see a lot more forty bucks an ounce and above listings...

I mean, a LOT more.

Even in the higher quantities...

The real price is getting higher, no matter what the COMEX says...

It's funny how things are with the internet. The truth cannot be suppressed as easily as it was when the media and distribution outlets could be tightly controlled, due to the lack of technological infrastructure available to the masses.

This is truly an exciting era that we now live in, as the walls of the global ancien regime crumble all around us.

Damn good post...

the physical market is breaking from the paper market ... buyer beware


this is not unexpected and will likely get even more pronounced


a client today was shocked at how the spread between bid and offer in the physical had widened to the point of what he called theft

GOLD Echoes of 1970s


[link to www.gold-eagle.com]


I'm just sayin'

as long as sellers are willing to sell at the artificial prices .. LET 'EM SELL!

once the PM rockets take off, there'll be no bringing them back.

Last Edited by upstateny on 01/24/2011 07:25 PM

My investment is in copper.... Over 100lbs so far

I just got a letter from the people who bought my silver for me and they recommend taking 1/2 of my silver American Eagles and buying gold American coins.

excerpt: We believe it is a good time to lock in some of the silver gains and diversify at least half of your silver IRA into gold as gold has established itself as the premier World Currency. This will still allow you to maintain a good silver position, but move some of your profits into gold as it has been less volatile in price swings. end of excerpt


The thing is, they recommended silver in the first place to avoid a possible scenario where Gold would be confiscated by the Gov.

They didn't say how much they would charge for doing that but if they sell some for me, they get 3 percent which they say they earn by scouting around for the best deals.

At the moment, I'm leaning against doing it. Thoughts, anyone?



GG

Don't listen to them they are playing you like a fiddle.

Gold flash crash.

Down to 1,300.

[link to quotes.ino.com]

classic. they call it churning. they move you from silver to gold, gold to platinum, platinum to gold numismatics then to bullion. the end result will be they get lots of your money from fees and or commissions while your ounces of metal slowly melt away. by the time you are churned back to silver and realize you now have fewer ounces than you started with it will be too late. those are the types of companies your want to stay far far away from.

Options Expiry is january 26, usaually 12 noon NYC time.

Expect a reversal then....




Silver Market Update

Clive Maund

While silver has performed as predicted in the last update posted on 11th January and has broken to successive new lows as its correction has progressed, it does not now look like it will drop to the downside targets that we earlier projected. Instead it now looks like we are very close to a reversal to the upside.

It has to be said that the 6-month chart for silver does not look particularly inspiring at this point, as following the failure of the uptrend in force from last August, silver's intermediate upside momentum has collapsed, as shown by the MACD indicator at the bottom of the chart, and on Thursday it crashed a support level in the $28 area. Normally such a setup would create the specter of a steep drop back at least to the first support shown on our chart in the $25 area, and this may indeed happen during the early or middle part of next week ahead of options expiration. However, there several strong indications that what happened on Thursday was a false breakdown engineered by "big money" in order to shake out technical traders ahead of a potentially powerful reversal to the upside, and the extreme reading of the MACD histogram (blue columns) certainly suggests a high probability of an immediate bounce, even if we then see lower lows.

=====================================

Thanks for sharing Clive!

hey tard, take a 100 dollar bill go 1000 years back in time and u get nothing for it, go 1000 years in the future and u also get nothing for it.


with gold u can!


of course u have the fucked up time in between currency chances, but for that u stash food...

I agree. The US mint has sold 4,750,000 1 oz silver eagles in January which is typically a slow month. Thats amazing sales.

I would own both. Take delivery. Go long and stay long. IF they shake you out you will be sorry.

it's not just ebay. supplies of physical are extremely tight in europe. the demand for physical metals has caused the metal to decouple for the paper market. the physical demand will eventually swamp the paper markets so they will change the rules to allow only sellers on the comex leaving only the dealers left to buy. the dealers will with hold their bids until the price go crashing down. or so they think. this time is different. Last time there were no overseas markets like there are today. Now China, the ME, Russia, Japan, etc all have markets. Now that the Fed is directly monetizing US debt by printing FRN's out of thin air it's only a matter of time till the dollar is toast and you will not find anyplace willing to sell gold or silver to dollars. only two ways out: raise interest rates or back the currency with something that people will trust, like gold. this is coming very soon. only a fool would throw away their gold or silver at these fire sale prices. looking for gold in the high 4 figures or low 5 figures just for starters.

just wait...you'll eat those words...and your gold.