Separate names with a comma.
Are you a current member with account or password issues?
Please visit following page for more information
Discussion in 'The Breakroom' started by jcc, Apr 15, 2013.
why is the price of silver dropping?
It wasn't worth $20-40.
Panic buying leads to panic selling, eventually.
Just wait till the guns and ammo bubble bursts.
How bearish of you. It's a little bit more complicated than 'it wasn't worth $20-40'. Time will tell which one of is right.
come on, that is the best answer you can offer?
IDK, maybe it's more complicated than that lol.
I can offer some insight, maybe.
On Friday there was a concerted effort to drive the price of gold down by putting through massive shorts, for example, an order selling $20billion in gold contracts. This much volume entering the market at one time drove the price of gold down past $1540, which was the 'line in the sand' for many investors, and the parabolic price point for gold. Once it broke past this point, traders that were invested in gold on borrowed money were forced to sell to cover their margins, which drove the price down even more.
Graph showing the concerted effort to drive the price of gold down by flooding the market with volume
TL;DR: Some people with a lot of money said that they wanted more money, so to do so they sold all of their gold, making gold appear less valuable. Everyone else saw these people selling their gold and said that gold must not be worth what we believe it is worth, so they sold their gold, too. Now that gold is 'less valuable', the people that sold it initially at a high price can purchase the same quantity of gold back at a lower price and pocket the difference.
Wow. Stumbled on this thread - checked the price and bought 10oz Perth Mint silver bar. woohoo!
I'm going to wait awhile, it wasn't too long ago it was selling for around $15. BTW, I got lucky, I needed some extra money for an upcoming trip. I sold my stash when it was $30, paid no more than $16.
If things fall apart and money has no value, the fast lead may be the best thing to have a lot of.
Can't eat, drive or drink silver but lead will get you all 3. Even has good trade value too.
Look what just came in the mail today!
And my whole collection, just cuz:
Nice haul. I can see your recent acquisition as 2 troy oz silver but what constitutes the rest of your stash?
I bought the rest of my silver back when it was at like 30 dollars an ounce, I had a bunch of cash that I wanted to keep from spending and I don't intend on selling for quite a while so I figured it would't hurt to buy then. I have a hard time not splurging on cool stuff if I have a lot of cash.
About $21.575 Friday, any other buyers here?
wish I could
$13 here we come
I only checked a couple of mints, not sure anyone is selling a slngle roll or two at this time. not enough to buy a monster box.
With silver markets how they are I sold my inventory two weeks ago before the drop - so pleased I did.
Closed today at $18.63: the trend continues