Big drop today

It was up over .34 before it took the nose dive. Wonder what is going on, Gold is back into the $1,600's...
 

It's not just silver and gold. Copper, nickel, aluminum, lead, zinc, and many others are way down today too. So those of you who will ultimately try to blame this on a "silver cartel" take down will need to explain how the "silver cartel" is able to manipulate ALL of the metal prices at once. 8-)
 

TreasurePirate69 said:
It's not just silver and gold. Copper, nickel, aluminum, lead, zinc, and many others are way down today too. So those of you who will ultimately try to blame this on a "silver cartel" take down will need to explain how the "silver cartel" is able to manipulate ALL of the metal prices at once. 8-)
Click to expand...

Yup true, wondering what's behind that drop....
 

Yes, now is the time to add to your stock! I am buying when I get off from work.
 

TreasurePirate69 said:
Well, I could speculate that it is due to the exact reasons I've outlined in several other posts. But there is no way to know for sure.

I think the positive job numbers released today are causing more and more people to rethink their whole "financial Armageddon" belief system. If the economy and world financial systems slowly recover over the next 5 years, what should the price of silver and gold really be? Keep in mind that at any point we could have a "major event" that tips the scales in the other direction. But for the last year we've seen gradual improvement in the economy and world financial systems which has caused the prices of gold and silver to slowly drop. Unless something else massive comes along, why should we expect things to start moving in a totally different direction? I believe that now is not the time to make any "major" purchases. The trend has been consistently down for quite a while.
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I wouldn't say that the numbers released today were positive. Nor would I say that the world financial situation has improved in the last year.
 

will start rising again in 2 weeks. Not allot but back up to average whatever that is.

I'm not complaining though. gas prices drop with gold & silver prices,
so once the artificial drop ends , all 3 will rise again, probably to slightly higher
then they were to make up for the temporary losses they are taking now.
 

Glad your speaking for yourself O! Wise One! I for one just bought 5 rolls of AE's this afternoon. Keep Stacking folks your going to need it.​

images7.jpg​
 

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jeff of pa said:
will start rising again in 2 weeks. Not allot but back up to average whatever that is.

I'm not complaining though. gas prices drop with gold & silver prices,
so once the artificial drop ends , all 3 will rise again, probably to slightly higher
then they were to make up for the temporary losses they are taking now.
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Jeff, what you care about Silver Prices? I thought you only buy around $1-$5/ounce? :P and sell around 200-300$? Lol! Hope your right though, and it goes bk up=)
 

Wickaboag said:
Jeff, what you care about Silver Prices? I thought you only buy around $1-$5/ounce? :P and sell around 200-300$? Lol! Hope your right though, and it goes bk up=)
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I dig my silver out the ground, of course I care.
I want every rosie to be worth a Minimum of $100.00

Or 10 Cents, which-ever helps me profit more now or later :thumbsup:
 

dollar index 2012.JPG
silver2012.JPG
As the dollar goes up, silver goes down.
As the dollar goes down, silver goes up.
 

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I'm doing my best to stack and my best to stimulate the economy. I've bought or sold silver every month for the last 4 years. I also bought 2 new cars last month and a new pool. Everyone do their part!
 

Glenn-RI said:
I believe because the dollar is getting stronger, precious metals are seen as a riskier investment and drop.
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Actually there is a trend that negates your hypothesis. While it is true that when the Euro corrects the dollar moves up, this phenomenon is a result of the European Union's fiscal issues. They will eventually find a way to QE like we do. Due to the way the laws were set up for the Euro, they cannot just "print" money like we do here. There have been bond sales and such over there, but I believe they will find ways to inject even more $$$$ into their system. When they get to where they can paper over debts and deficits like we do here, there will be more of a balance between the 2 currencies like there has been over the past years.

Now, on to why the dollar's days as a world reserve currency are changing. Many nations have been adopting bi-lateral agreements to NOT use the dollar when they buy and sell from each other. And these are not just countries that "hate" the US, but allies as well. If anyone doubts this do some research. China has been making agreements with several countries to use the Yuan and not the dollar when doing international trade. Some countries happily making agreements to not use the dollar are Japan, India, Brazil, Russia, Malaysia, etc, etc.

In the past these countries had to buy up dollars to transact business with each other (not just with the US) so there was never any doubt the dollar would be in demand thanks to the Bretton Woods agreement from 1944 that established the US dollar as the world's reserve currency among other things (the spoils of winning WWII you could say). Now such countries are agreeing to use currencies other than the dollar to transact billions of dollars worth of business. Once these agreements are made and put into place they will not be reverting back in my opinion. It may take a while, but such events are certainly not bullish for the dollar's future unfortunately for us Americans. This has been in progress for over a year and is not just some recent phenomenon.

Yes there could be some short term up trends in the dollar as the Euro's woes are being tended to, but I would not bank on it going up for too much longer.

Just my opinion.

Jim
 

Good post Jim but I wouldn't waste my time responding to the posts that say silver, gold are going to crash and that the dollar is getting stronger, let them research like we do, when China starts dictating the worlds politics then maybe they will wise up. Keep Stacking Stackers
P.S. If the dollar was stronger then you coulld buy more with it. So how come prices are going up everywhere like oil, groceries and the like THE DOLLAR IS LOSING VALUE PEOPLE NOT THAT PRICES ARE RISING. SHEEEEEEEEE

Layoff's

http://http://www.bls.gov/news.release/pdf/mmls.pdf
Mass Layoffs Summary
 

Silver is being controlled right now by the big players.

they want the price down so they can stock up big time,
with not as much notice as would be, if prices were over $100 an oz

when it gets to the point these billionaires own the majority of silver,
prices will be allowed to skyrocket. & they will pretty much be able to purchase
our debt & own the U.s.

they can't do it with gold, because the % increases, will never match the % increases they
stand to gain from silver hitting even $350 an oz.
imagine $1000.00 silver :laughing7: don't let them have yours
 

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For all you doubters out there saying or economy is getting better here is a challenge for you. It will take 2 hours to watch these videos but it may open up your minds. LISTEN TO ALL FOLLOW NONE

For all believers, this is a must watch, there are 7 videos 20 min long awesome presentation on our banking system by ANN BARNHARDT
This is why you should be Stacking.
First Video link then follow from there.
 

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