So why the sudden jump in silver prices?

Discussion in 'Silver' started by At20, Feb 14, 2014.

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  1. At20

    At20 New Member

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    So just yesterday, for the first time in a long I thought I'd check what is happening with silver. And to my surprise it's on the move now.


    Why?
     
    At20, Feb 14, 2014
    #1
  2. swoydaz

    swoydaz Well-Known Member Silver Stacker

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    Why not ;)
     
    swoydaz, Feb 14, 2014
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  3. centenario

    centenario New Member

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    I'm wondering the same thing, why did gold and silver move up so much today?
     
    centenario, Feb 14, 2014
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  4. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    People getting out of Bitcoin :D
     
    Shaddam IV, Feb 14, 2014
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  5. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Precious metals are static, everything is falling around them.
     
    sammysilver, Feb 14, 2014
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  6. silver kook

    silver kook Active Member

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    It went up because I was planning a major purchase today.
     
    silver kook, Feb 14, 2014
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  7. VANGBAC

    VANGBAC Well-Known Member Silver Stacker

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    Sammy you predicted a breakout . This might be it.
     
    VANGBAC, Feb 14, 2014
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  8. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    With 5 minutes to go before the weekend close of the market, it doesn't look like any smackdown. Wether this means a breakout, I'm not sure.

    We have the situation in that physical is linked to paper and digital to such an extent that the virtual tail is wagging the physical dog. As we've broken US$1,300 and accelerating, will the manipulators dig in on another price point like $1,350 or $1,400, or is this start of the bull market?

    This is not a blip as gold has now gone up $120 in two months consistent with the tapering. My guess is that it will continue rising with price breaks around the US $100 marks. As gold rises, poor people like me will buy silver at an increased percentage and the GSR will start to drop, 60, 55, 50, all the way to 30. Then the debate starts as to whether to sell silver to buy gold.
     
    sammysilver, Feb 14, 2014
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  9. thatguy

    thatguy Active Member

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    FED Taper.. banks have less cash for thier manipulating ways :D
     
    thatguy, Feb 14, 2014
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  10. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    A price move of this magnitude is only explainable by manipulation.... apparently.
     
    wrcmad, Feb 14, 2014
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  11. Aureus

    Aureus Active Member Silver Stacker

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    It is good to see gold over $1300. Up 10% on both metals over the last 2 months, that's pretty healthy growth.
     
    Aureus, Feb 14, 2014
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  12. Newtosilver

    Newtosilver Well-Known Member Silver Stacker

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    A lot of people would say "sideways"interesting to see if it is a upward trend, all those people who think it is going to $16.00 or lower should sell now and take a profit then they could buy back in at $16 in the future :)
     
    Newtosilver, Feb 14, 2014
    #12
  13. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Or short positions having a problem finding supplies to cover delivery and therefore are having to buy on the market.
     
    mmm....shiney!, Feb 14, 2014
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  14. masterpiece

    masterpiece New Member

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    I have been waiting for this. Debt crisis
     
    masterpiece, Feb 14, 2014
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  15. Peter

    Peter Well-Known Member

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    Edited.
     
    Peter, Feb 14, 2014
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  16. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    14 February = Full Moon. :D

    http://www.ga.gov.au/earth-monitori.../moon-phase-data/2014-phases-of-the-moon.html


    Silver prices posted even greater gains, with the contract for March delivery rising $1.02 to $21.42 an ounce, a price unseen since 8 Nov. 2013.

    The 5% rise was silver's biggest one-day percentage gain since 19 Sept 2013. Silver for February delivery rose to $21.411 an ounce.

    The moves higher by gold and silver highlight how unexpectedly weak U.S. economic data have sparked a newfound enthusiasm for precious metals among investors, who had given the asset class a pounding in 2013.

    http://online.wsj.com/news/articles...0001424052702303704304579382873611682400.html
     
    Holdfast, Feb 14, 2014
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  17. long88

    long88 Member

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    cant wait for the smack down... need to back up a truck..
     
    long88, Feb 15, 2014
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  18. worldbubble

    worldbubble Active Member

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    short covering ... good time to offload some silver junk
     
    worldbubble, Feb 15, 2014
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  19. willrocks

    willrocks Well-Known Member Silver Stacker

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    Hopefully the price rises enough to make my $23 - Jan 2015 SLV call options a worthwhile gamble.
     
    willrocks, Feb 15, 2014
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  20. clear

    clear Well-Known Member

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    so how much of a smack down do you need to back up the truck and how big is this truck ........
     
    clear, Feb 15, 2014
    #20
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