Hello everyone .. I have normally been a silent operator , but thought it time to join the conversations . The big players have taken their profits and are waiting for the June announcment from the Fed in relation to QE3 and in the meantime the shorters will push it down further . When Bernake makes his statement , watch the activity explode as his words are said . I believe the margins were increased to crash the price because there has been such hectic activity in paper silver and the Comex and the central banks were terrified at the huge lack of physical to back it up , the price had to come down to stabilize . When people panic , they lose money .
Looks like you're the winner Recent at 34.00 because it has roughly bottomed at 33.20ish :/ and now looks like it's climbing nicely again. But who knows what it's going to do by the end of the month
Yippe ..... gold is`nt more important , its actually less important than silver , but it is held in higher regard because of its history . Man has had a fascination with the yellow metal since time began , it used to be a currency like silver , soveriegn governments commonly used it to back their currency ( as they are starting to again) , but mostly because it is almost solely a store of wealth and is affected only by war and currency events , where as silver is affected by so many different influences .
I hope it drops further , which i am pretty certain it will and Bernake announces QE3 , then we will go for another ride . But i might go the paper option this time so i can respond quicker .
Its heading down and New York hasn't opened yet. Methinks people are bailing ahead of more pain during American trade.
