Hi, What's causing the spike? It's so vertical again that I can't believe my eyes! It's 22.52 USD, it looks like it has the will to go to 23! Opinions? Chart experts, what are you seeing?
This years' silver crop with extra helium added. I really don't know what has caused this but I sure am happy about it. I will be very interested to see what explanations come forward but I guess it will be as much a mystery as the sharp falls we have been having for so long. Edited for punctuation because punctuation is VERY IMPORTANT.
Related to the bombings plus violence in cairo plus obama cancelling war games maybe? Multiple events within a couple of hours.
Jim Rogers said is had not bottomed yet (gold)... I wonder about silver. I think the video is just a week old: http://www.youtube.com/watch?v=-Ezin-mrX28 I am wondering whether this is just a piece of the next step that will lead downwards... Because if you take a look at previous bumps, the overall trend pointed downwards. This is so abrupt, just like one of those bargain-hunting spikes.
I held off buying due to what he said. Supposedly there will be some wild bouncing off the bottom so the may be a few more opportunities.
The short term temporary buyers that load up Comex positions. Unless I see huge US Mint sales / ETF stock increases tomorrow.
Look at the price charts for ALL the PM's, they ALL went up at the same time and quite substantially. It's as if someone in NY said "after lunch buy PM's", and they have.
Morning all, We have been making higher highs and higher lows for weeks now. We have broken down trend lines. We have the price crossed moving averages, Where is the mystery? The probability is gaining strength that the bottom is being left behind. The smell is the anal hair of shorters burning. Have a great day all. Gazza.
Most analysts agree that silver will trend sideways *unless* their is a black swan event. I wouldn't really call egypt a black Swan however the violence is causing stirs in oil prices. Gold and silver have always Tracked oil and benefited from instability. Depending on what happens out of Egypt, Whicg in my Opinion is only going to get worse, which may see a return to $30 silver. However of this happens Aussies will be Paying $1.70+ for fuel and price of living costs will also go up. Remember the old saying , gold and silver are Inflation hedges. If they are going up, the likely hood that your dollars are buying you less is high.
Fortunately for Egypt and unfortunate for investors. The military uprising against the government is funded by the US. The US funds 25% of the Egyptian military budget so technically, this is a US led oil price manipulation. We all know higher oil prices benefits one nation above all, the US and the mighty petro dollar.
So sudden across all PMs, probably a single large trade. Is there a rule of thumb as to how many ounces / dollars would have to change hands to make a move that big? And is there any speculation on who may be responsible? News and most blogs still quiet...
Or a set up for a bigger fall later? I'm still holding my breath. Bought during the dip, but hesitant to buy more now. :/
It appeared to me that at the start of August silver had bottomed. Easter, is when the market tanks, and US Fall is when it picks up. I have been buying big (in my terms) these last few months. I have ignored the ripples as I feel the increase will more than exceed any small peaks, (almost always under $24 since Easter). It may be that Egypt will be enough to kickstart and accelerate the inevitable rise to next Easter. If I'm right, my aim is to keep stacking until Christmas, then sell a portion of my stack leading into Easter to build up a war chest for the mid 2014 bottom. This demonstrates the need to buy silver close to spot in order to maximise your return. Buy a round at $24 and sell it for $36 you make a 50% return. Buy a numi at $35, you'll be scratching to get $47.50 in 6 months,
