Big price slump coming?

I'm starting to think this weekend's spike may catch a few people before a big slump.

Besides the usual rumours, is anyone seeing or hearing anything? Any signalling by dealers offering steep discounts? I noticed this in one thread:

 

Maybe Greece and other Eurozone nations who are struggling may dump precious metals onto the market?

 

Don't stop to take a breath. Keep buying. We'll never see sub $24 Aussie in our lifetime again. Go into debt, max out your cards, sell your first born, cash in your super, forget the holiday.

 

I'd be interested to know if Pirocco has any analysis that could point to something.

 

I've already reached my total physical silver quota. Regardless of what happens I won't be buying anymore

 

Let's hope it does go down...

I am looking to spend my money as it comes in on my third ounce of silver. So once I get to three ounces I will give them the name the 3 little pigs.

I'm cheering for lower prices! GO LOWER, GO L O W E R!!!!

I can't understand why anyone who likes silver would want higher prices? Personally I would like $1 silver so I can get more of what I like. Imagine $1 silver... I'm drooling...

 

I think it's all in limbo. LBMA and other industry institutional price targets mostly agree that we will trade in a $200 range roughly $100 either side of where we are now for gold.

Golds weathered a higher dollar, end of QE, record highs in US equities, record shorts in metals and an otherwise sector wide slaughter in commodities. Oil at $50 was supposed to kill Gold. We've also seen progress and confidence in the Greece/EU situation and the start of a (meaningless but apparently bearish for safety plays) deal on Ukraine. Gold beat them all.

That's before you throw in the AUD taking a nose first swan dive like an air asia flight (too soon? ).

That's not absolute proof of anything but I take it as a good sign. What else could they possibly throw at gold? A US rate hike? That's already priced in apparently (you'll probably see $20 shaved of in half an hour on announcement as the day traders take their slice) and according to Commerzbank amongst others it's the uncertainty the market hates and gold might move higher after the market has digested the news.

I'm not making a bullish argument, just saying that there are plenty of things you could point to that should be bad for gold that it's weathered and I wouldn't get too worried on a feeling or unsettling calm when even perfectly cromulent factors can't keep gold down.

Same story for silver.

*Cromulent is a perfectly cromulent word.

 

Commercial traders still sitting on huge amount of short position against gold, according to most up-to-date futures report.

I believe Cartel is setting up a massive drop on gold price for the coming months.

I would buy some bullion once gold hits $1085, or nearby.

 

This is the sort of thing I'm thinking about. What are the really big players doing?

 

I suppose the commercial's know best like they knew with the massive carry trade they had with the Swiss Frank just a few weeks ago? A massive crash in Silver is not something you should predict based on bank short positions. Or more accurately your perception of their positions. You have no idea of how these are hedged or derivative trades in place to offset them. With all the predictions of higher prices, lower prices or sideways movement - you know what someone will be right!

 

Thought I was getting a new word there ...

cromulent

 

Just because commercials went wrong occasionally; doesn't mean you can disregard them, at all.

I believe commercials know better than many of us here; they're not speculators. Commercials have been in the precious metal business in a time longer and in a scale larger than almost any stackers here.

 

Learning a new word, like cromulent, every day can embiggen the smallest man.

 

Thanks for the heads-up! ... Nostradamus.

 

MCM just did the spot price silver sale on ebay, and now Apmex doing these sales. I've scene others aswell. Everytime I've purchased during a sale a smackdown followed...but then again everytime I've purchases regardless of a sale a smackdown follows

 

According to last week's COT futures report, Commercial traders still sit on huge amount of short position against gold.

Let's see how this play out:

first, they sold their coins at special price;
then smackdown follows, they close their short position.

WHAT A PLAN !!!

 

Gold Cant go down.. gold inreases when countries increase fiat liabilities .. all central banks have been creating more and more debt.. it may not be showing up in price inflation but that is a delayed and largely irrelevant point, as central banks print and create debt it costs more fiat units to buy the same amount of gold.

Silver is also industrial so is effected when base metal demand slumps.. gold is not effected by this

Silver will likely rally hard with iron ore which has just turned bullish by reckoning..

the key for us will be if the US$ can stay strong when the commodities re-ignite, my biggest concern with AUD donominated assets

1for1

 

This is the hard thing to get your head around!

The dollar isn't a standard unit, like time or distance, so why do we measure things against it?

For instance, we measure the value of gold against the dollar. But if someone doubles the number of dollars in the market place the value of Gold doesn't drop by half. If the price of gold stays about the same then in real dollar terms it has doubled in value.

Which is pretty good, the only problem is, when I go to sell it they just give me dollars.

 

I wouldn't.