Most forecasts were for 180k+. They also revised down the last few months jobs numbers. Edit - numbers were 162k
The way I see it is that QE (Fed money printing) draws major investor money into paper (mostly bonds) and away from commodities (some physical) like pm's. Therefore, since the money is only going to be put where investor sentiment is higher, there has to be a loser. In this case, pm's lose when the Fed prints it appears. That's why I have said that pm's won't rise to any significant degree until later this year or into 2014 whatever time the Fed gives a clear indication of tapering. Then, investor sentiment will shift from bonds to commodities. I may have this all wrong but it seems to me to be the way that works. In other words, our stacking and India and China's buying hasn't and won't have a huge impact on the spot price....some, but not huge. .
I wonder if 'industrial use' companies are stacking at these lower prices. Then again, with a slowing economy and less cash flow, they may not bother (or be able to).
Well, there was the smack down, in gold anyway, in the last few minutes of trading. I expect silver will follow at the start of trading next week. It's a long slow trip to da moon.
Oh wow. Smackdown! Hmm, somehow only the charts for Goldprice.org is showing this while Kitco's charts aren't. :/
I think this might be a goldprice.org glitch - other multiple price feeds being used by dealers are not reflecting this drop - but the ones I can access are even then reporting ~$10 discrepancies. That sort of data unreliability is a big problem. I would not use this as a price as a reference to do forum deals by over the weekend.
That would be wonderful if it's just a glitch, that actually makes a lot of sense also. Now, just to clarify GP. Does the advice not to trade on these figures extend both to buyers and sellers? If not, I'm up for buying some cheap gold.
bullion list always seems accurate Silver Spot Price USD 19.99 AUD 22.44 Gold Spot Price USD 1314.50 AUD 1475.74
Oh... :/ I thought it must logically follow that the spike up, being much bigger than the smackdown, must have been due to much more manipulation?
Who knows? But so far about 9-10 hrs of trading time. Manipulation of course. Isn't that always why the silver price spikes?
wrcmad posted There's a bit missing there mate, it looked more like the gold chart does now when I first posted (no idea how to cut and paste and draw pictures) Are you being a bit sarcastic Wrcmad??
What happens when Silver breaks through and CLOSES above US$21? It could go for a bit of a run! Not to da moon though.
All sounds good to me, I'd settle for a low earth orbit, Hell, a balloon ride would do rather than this Earthworm simulation silver has been doing.
