We have an "anomaly" ! Secure The Area! [youtube]http://www.youtube.com/watch?v=qqYlE87UwUo[/youtube]
What's going to happen when the market reopens. [youtube]http://www.youtube.com/watch?v=eR5i7B_Z1Bw[/youtube]
They lack the futures market means to bring silvers price down more (under 2008's low level). They do have much more means (twice 2008's low level) to bring golds price down more. But since they try to promote gold above silver (they have plenty gold to control the market), it is possible and even plausible that they won't dump those means. At least not until they succeed in disencouraging silver owners more. On the auction sites I frequent, the gold and silver offers nearly died since 1-2 weeks. Near to nothing. An explanation could be that people refuse to sell when these price levels are around.
With new players / buyers in the game chances are this could play out different than 2008. On that basis I assume lows in Gold may stay higher than some think but I still think $1377 usd is very possible. We are in new unchartered territory with these buyers present. Those that base the outcome using 2008 as a template will probably fail.
It will stay down this week too. Until someone notice it I guess. Waiting or fishing for more players to participate. Or will crashed. So sell sell sell. You would be a fool to listen to me.
Any major (longer term) trend reversal typically happens at a marketwide event (ex a central bank decision, a new crisis phase arriving). To reverse the precious metals trends, it requires bad US news and/or good EU news. 2008 was US trouble; 2011 was EU trouble, maybe 2014 will be next US trouble.
