Silver is dropping right in front of my eyes

Investing for kids

Investing for kids

Well-Known Member
As I’m writing this silver has just pulled back from $34.5 and ounce to under $32.
Thoughts?
Just a pullback?
Going down?
About to shoot up?
Share your thoughts here
 
Was always going to happen.
I see myself buying Unallocated at AUD $25 oz spot by this time next week.
 
sgbuyer said:
Damn, was thinking of selling my SLV last night.
Click to expand...
Really? I think we have some potential in this run. Eh, I may be wrong, but its been so uncertain atm and no one really has any idea, when silver goes up by like 10% in one day and then drops by over 10% in the same day and then comes back up by around another 5%
 
Given silver is up circa 30% since 30 June 2020 and gold is up about the same since March 2020, I'm not getting too bent out of shape over some re-tracement in price right now. At USD1930 and USD23.80 odd at present....I'm still a happy stacker.
 
Well so far there have been two huge dumps in total of silver contracts - around 9:30pm and then at 3:30am

One dump was around 14,000 contracts in total and the other at 3:30am was even bigger at over 16,000 contracts.

IIRC these contracts are for 5000 ounces each so someone, from somewhere dumped a total of 150,000,000 ounces in a falling market. Then add in the other contracts dumped just before and after these huge dumps as well.

All done to take out the stops, kill the rally, and manipulate the price. No rational person or trader would trade like this ever unless the aim was price manipulation.

So the only question is who has the ability to do such manipulation?

And of course nothing will ever be done to the ones undertaking such manipulation.

If you or I tried something like that we'd end up in the klink.
 
You must log in or register to reply here.
Back
Top