I don't have money to buy, but it went down .70 cents (USD). I'm tempted to pull some savings just to buy! Is anyone gonna buy? Maybe it'll go down to $6.15 later on. And I just looked at gold? This is strange. Does anyone know why both wen down so much in the matter of one hour?
because of USD growing in strength due to significant emplyment in january in the US. i believe that the middle east situation since last night also has an impact on the prices going south.
I think it's because good US job's numbers, traders think FED will hikes interest rates in June, therefore, sell metals. I have a feeling Markets will not perform well if they think interest rates will rise. FED are caught. Let's see how the next 3-4 months unfold.
I like to listen to rap songs when the silver price is dropping. "Now drop! Drop drop drop drop DROP TO DA FLO FLO!" How low can you go? Etc. there's a lot to choose from. But no, not yet. Right now silver is twerking (bouncing up and down to my rap music) I want wait for it to drop to its knees like a cheap hooker before I slip a bill her way and gesture for her to come back to my place...what, none have you have ever looked at silver as being female? It's totally the female to the male counterpart (gold). Just like the moon and the sun, yin and yang.
I read an article and the drop is apparently due to decrease in demand. If you ask me its all BS and its all got to do with the elite manipulating the price as they wish. Once the price drops, where do most people shop for precious metal? Dealers, forums, eBay, other sources?
Do you really think that a few thousand stackers always on the hunt is demand? What you need to be looking at is industrial and jewelry demand. Just because every silver forum has us looking for silver, we are a tiny piece of the pie. And as far as "manipulation" everything involving money is "manipulated "to some degree. The biggest problem as i see it, is different peoples interpretation of manipulation. If values of commodities did not go up and down all the time ,where would we be then? And if you do think the evil bankers are bringing prices down, why down and not up?
Slow down .it may just be the beginning. March on is the time to buy if you are using spot as a guide.
When I say demand, I am not talking exclusively the demand of silver coins and bars. I am talking about an overall demand for silver - bullion demand, jewellery, industrial demand, EFTs. Values going up and down is not manipulation but rather normal market activity. Supposed manipulation in the precious metal market is the coordinated strategy by big banks to suppress the price of gold and silver in order to not expose the weakness of the dollar as the price of gold and silver is the best barometer and reflection of how strong the dollar is.
People go around in circles on this stuff. Beating themselves up every time the price drops below their last purchase. Get a method you can sleep with regarding your purchase price, because if you don't you will give yourself stomach ulcers with worry. One simple method is to dollar cost average, don't go all in. Remember, manipulation works both ways.... For me a Stacker should have a longer time frame and enjoy the history and economic awareness the community brings. The ride is too rough for short term views. For what its worth the price drop was mostly attributed to the US jobs data released yesterday and the increased likelihood that this supports a rate rise - an enemy of gold. These announcements work fairly predictably, what direction it goes who knows, it changes month to month. The big picture though is much clearer - Stack on!
Looking around to get another key or so in the next week or so.. Silver is more bullish than gold in the short term due to % from recent tops, this is the healthy consolidation before the major next leg up to $26 AUD.. cheers yall.. happy stacking
But wait -- strong employment means more people have more money to buy more silver coins/bars/jewelry/ETF's!
As a rule of thumb the stronger the dollar the weaker the gold price and vice versa. If you look at a 'buying power'(I am sure there is a more technical term) chart of a dollar and flip it upside down you will get a chart that looks very similar to the gold price chart. When more people have more money its usually a sign of a better economy and in those times people don't usually invest in PMs, as PMs don't pay a dividend, they cost to store and they don't tend to increase in value as some shares do. Most people turn to gold/silver as a safeguard against foreseeable economic crisis and there are minority(us) who invest for variety of reasons. I definitely don't trust the fiat currency and I am confident silver is one of the best current investments. We, fellow silver stackers, are a minority as far as investors go but I believe we have one of the safest and best investments. Time will only tell. In saying that always diversify and never put all your eggs in one basket.
Understand all that. But what I said is also true. Unemployed people with no money don't buy PM's or their paper equivalents. I think sometimes people mis-attribute reasons for moves in prices -- when in simple actuality, somebody and/or something just wanted to sell it off / smash it down, which sets off a chain-reaction in the same direction, snow-balling as it goes. People/entities don't typically profit when the price of any asset is stagnant. Volatility = cha-ching $$!
