Ah well, I guess my wife was right, I have just wasted the family savings, don't you just hate that!?
Nikkei is on it's way down too http://www.zerohedge.com/node/475704 [imgz=http://forums.silverstackers.com/uploads/2355_nikkeigold.jpg][/imgz]
Another plunge in gold and silver is awesome for buyers, but it wont last forever. The structural economic woes and "QE" of banks (who are only protecting the solvency of banks and aren't doing anything that helps the real world economy) around the world continues and the paper ponzi market is bouncing up against reality more and more. That real world effect is starting to bite as the worlds biggest (and already troubled) miners like Barrick and Goldcorp continue to make cutbacks. Newcrest Mining are slashing jobs, Newmont and AngloGold Ashanti shares are down, Yamana, Kinross etc... they are all being hit hard. This is what's happening in the real world and its no less true for silver. It's fantasy land to think miners can keep taking these hits without there being real world consequences. People who live in Ben Bernanke's world of endless QE are and central planning style market manipulations are out of touch with reality. As they say "reality bites" and it is already biting: Miners that have already been facing political problems and have been closing operations and claims at the same time are facing price lows that are unsustainable. They are responding by making cutbacks. Real people are losing real jobs and sooner or later there will be a real world drop in supply. The markets are highly distorted, dysfunctional, and fully detached from reality. Fueled by the brinkmanship of governments and central banks this is an unstoppable force that is heading straght toward an immovable object called "reality".
The financial world falling apart and Perth Now has what the "Rock" has to eat every day......and The Queensland Courier Mail has "How to burn Calories like Cadel"...............Gotta love the ignorance of Australians
You'll never live it down. Unless silver goes back up to $30+ in the next 12 months (and you don't sell beforehand).
Yep, great buying opportunity just like $30, $28, $25 were... Looking at a long term chart, it's a straight line down. One could expect some sort of spike up at some stage, I guess? Even in a longer downtrend scenario, should that be how it plays out.
Woo hoo!! Go silver....make me a sweet deal at a few more dollars of drop! I love it when you get on yer knees.
Fortunately for me her father has lost more in shares (Greek Banks), our Industry Supers both lost money and after Cyprus she doesn't trust term deposits so at least this one isn't all on me. But you are right, I bought 23kg of pre dec silver at $19/oz and I heard about it for two whole years before silver skyrocketed. I am still hearing about how I should have sold it at $49.
I want to to a big purchase (for me 14 koalas and 3 100g bars ....) I just dont know when the price keeps falling I keep waiting to see when its gonna bottom and it just keeps failing. I was sure looking at the futures prices yesterday we where close as they where all in the green today they are trashed again all down 50c
Ishares sold 6 Moz. Must be a part of the explanation, the number is not that exceptional, begin april there was also such a drop, and that was even before the big price drop from $27 to $22 2013/05/16 331,852,518.300 2013/05/17 329,631,679.700 2013/05/20 327,893,650.100 2013/05/22 322,245,369.800 2013/05/29 321,279,945.800 2013/06/04 321,135,274.700 2013/06/11 321,473,111.500 2013/06/20 320,990,547.500 2013/06/21 323,885,835.500 2013/06/25 317,709,349.100
I wouldn't be too worried pdkbffwleo. In hindsight, I think you will find you still did well even if you didn't pick the bottom.
Something fishy is going on here. Just like in April there was no reason for Silver to go to $49, fast forward to now and there is no logical reason for silver to drop this much. I would be tempted to buy here. (if I had the money)
