Finally found a news article that explains the fall. Economic recovery. Nations not as uncertain. So they sell all their stock. Sorry if its too obvious.
But ETF stocks do not show drops. But the amount futures on the Comex already sat on a 3 years low since wednesday, before this price tumbling. So alot stackers sold. There must be plenty people on this forum that sold. That's the remaining explanation. If the price levels stays till wednesday, fridays COT report will show us the role of the Comex in it.
Do you have a link? Maybe it was a recovery on the planet Pluto. I'm in the EU. We are now 2013. In my country, since september 2011, except for 2 months, every new month put down a new record company failures. First small, then medium and since end 2012 also big companies (alike car producers, 6000 men dumped). So I wonder where that recovery hides. And I also even wonder how recovery is even possible, with governments that continue the crap they caused the crisis with. But hey, the gold and silver prices are what they are. In the future, I will receive more silver for my new earnt euro's. Since I bought alot silver it will be a slow process to average down, but ohwell, I still feel better with my own control and independency/freedom thanks to silver, than with my former euro bank savings account. One thing is sure, euro's won't buy more over X years. But there is a good chance that silver will buy more over X years. For all those that are able to benefit from these lower prices: congrats.
perhaps we are seeing the worst scenario of too much speculating and the effects of margin calls...these are the weak hands that a very, very clever analyst made mention of several months ago and he was one of the few to give reasons why the market can be smashed. I am stunned by the fall as much as any S.S. Just remember that like an enormous earth quake, the aftershocks will be felt for a long time after. We could be looking at perhaps 18 months for confidence to be restored in the gold/ silver market.
When you see the price chugging along and then all of a sudden drop 5% in a matter of minutes - that is not the normal market. That is a deliberate attack on the market. If the sellers were real sellers, they would want a higher price, not a lower price. They would trickle their sales in gradually so as not to push the price down. This is selling short on such a scale to purposely push the price down.
I am sure that the short sellers are all over this at the moment, they smell blood and like a school of sharks they will all circle and see if they can get a bite out of it. But again your fundamental understanding of markets is wrong. Week hands are exiting, too many positions have been built up in recent years, based on all the speel about owning gold and silver. REGARGLESS of whether that speel is true or not, the week players are tired of sitting on positions which are loosing money over time. Then there are the 'big players' and unlike the small retail players, their movements have a significant effect on the underlying markets. And when the big players start exiting at the same time as market turmoil, you have serious price damage. And why are those big players exiting, because there has been MAJOR technical breakdown in prices. Longer term support levels have now broken, and that means exit. This forum reminds me so much of the dot.com era. 15yrs later and is the NASDAQ anywhere like its 1990's highs? So those that got out early, kept their capital. Those that just sat on the side lines and prayed got slaughted. I am a wolf, i have no interest in changing to be a sheep. I will let others be the sheep.
For two reasons, firstly there will be a time when i strike, and strike hard, but time is not yet upon us. And secondly, because there is so much misinformation on this forum.
I m no expert here. A lot that are just keep quite. If you pound harder the facts will come out. And how many gurus that for see sight gives accurate facts. It is base on history and assumption. Before all this down turn events about a month or two ago. There were something not right. I asked. They told it was something personal . What going on? on my posts. True and it did happen. Then $26 aud level I did said if it break it will fall about three weeks ago. Well truly it happen and this was based on my facts. No research. How many see this coming?
for me the continuing printing of paper $ has caused this, not the right response everyone on here was hoping for ? nothing has changed its still the caviar eating prostitute using wankers filling their pockets with our hard earned , if you think its anything else then think again. they have been at this for many generations think you will outsmart them ? think again! there time will come but not in this century. turned my whole back yard in to a veggie garden and am looking to leave this rat race behind ASAP hippy style and leave them to do what they as best I can/ in other words feed myself with my own produce not have to keep going to the shops they build with more weight in the packaging than the contents. am I insane maybe , maybe its time to stop playing the game ??? for me its getting very boring all these people do is take, they would squash you like a bug and smile, that's what they are doing today with the silver market. its not about $ to them its about power !! taking away my choices.
Also possible: Market Manipulation to drive the price down so the big players can buy a bucket load as they know it is going go through the roof. or We were all fooled into thinking PM was a safe haven, although I still like having a shiny bar in my hand over a bit of paper saying I own XX amount of stock
All I can say is EBAY is a true market evaluation....trust me silver isn't selling for 22.50 no where near it....so is the price falling? yes and no. paper price yes. physical price no.
No, Ebay is a place where people who think they know what they are doing generally over pay with a high risk of fakes
