Big price slump coming?

1for1 said:
Silver will likely rally hard with iron ore which has just turned bullish by reckoning..
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Don't bet the house on that....

China devours 2/3 of the world's seaborn iron ore. So goes its appetite, so goes the price of iron ore.
....
The country has overbuilt. A well-regarded contact in Beijing told us that another study revealed 28% of the homes in Beijing had not used electricity for six months. In New York, he reckons that number might be more like 4%. Meanwhile, researchers at China's Southwestern University of Finance and Economics found that 49 million (22%) of Chinese apartments sold in 2013 were vacant.

In theory, those homes will fill up as Chinese move from the country to the city. In reality, there are enough empty apartments in China to house 6 years' worth of urban migration. That's more than an entire year's worth of global iron ore demand going up in smoke.
....
All that's troubling enough as is, but iron ore supply is also growing. UBS forecasts that iron ore's oversupply will 6X from 35 million this year to more than 200 million by 2018. The major miners are fixated on gaining market share, and they will, but at the expense of crushing the iron ore price for years to come.
http://www.fool.com.au/2015/02/04/the-future-of-iron-ore/?mc_cid=ae97b06bf0&mc_eid=aae6724b6c
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"MintDirect" is another gimmicky term like "FirstStrike".

The only designation that assures that the coin in the slab is actually among the very first struck and produced by the mint is NGC's "Numbered First Struck" ... http://www.ngccoin.com/coin-grading/scale-designations/other.aspx .

All the other designations on PCGS and NGC slabs are basically gimmicks and don't assure a coin is among the first produced my the mint. Now of course, the grade of the coin within is a separate designation.



.
 
Thanks for the info SP I will be dumping all my silver collection before Friday,and buy back next week at a bargain price this is a sure way to double or triple my collection ounce wise and make a few bucks doing it, this is what I call a win, win situation..Jump in everyone how can you lose?
 
BoliverT. said:
Thanks for the info SP I will be dumping all my silver collection before Friday,and buy back next week at a bargain price this is a sure way to double or triple my collection ounce wise and make a few bucks doing it, this is what I call a win, win situation..Jump in everyone how can you lose?
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Its started:

LiN0kLO.png
 
Should have said: "Gold can't go down much over the longer term before recovering" otherwise some dickhead will take the quote and stick it on a chart at the first minor price dip. :P

i7CeZWH.jpg
 
SilverPete said:
BoliverT. said:
Thanks for the info SP I will be dumping all my silver collection before Friday,and buy back next week at a bargain price this is a sure way to double or triple my collection ounce wise and make a few bucks doing it, this is what I call a win, win situation..Jump in everyone how can you lose?
Click to expand...

Its started:

http://i.imgur.com/LiN0kLO.png
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I hate those graphs, I always do a double take thinking silver has taken off of a cliff when in fact it's only dropped 0.40c.
 
It's easy to forget about the Plunge Protection Team when it's summertime and the living is easy.
 
Seems like the GSR was getting a bit too uppity for somebody's liking.


Is it time to start dusting off the bullion shopping list again already?

Been a while since I last sent some fiat to AUS..

Hmm.. :)
 
Nabullion Dynamite,

Did you make a purchase in the weekend? LMAO

Please keep buying; we're wait for 1,085$ gold....
 
leon1998 said:
Nabullion Dynamite,

Did you make a purchase in the weekend? LMAO

Please keep buying; we're wait for 1,085$ gold....
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You know I did :P I purchased when I feel I'm getting a good deal, most good deals happen during sales and most sales follow by this! Couldnt pass on the spot price silver sale MCM had a few days ago. At first it was a conspiracy but I'm starting to believe it now! Time to start charting!
 
I think it is a good time to buy now, if those special prices are still in effect.

No kidding, spot down by a dollar!

Nabullion Dynamite said:
leon1998 said:
Nabullion Dynamite,

Did you make a purchase in the weekend? LMAO

Please keep buying; we're wait for 1,085$ gold....
Click to expand...


You know I did :P I purchased when I feel I'm getting a good deal, most good deals happen during sales and most sales follow by this! Couldnt pass on the spot price silver sale they had a few days ago. At first it was a conspiracy but I'm starting to believe it now! Time to start charting!
Click to expand...
 
OK, let's run some calculations:

Assume you bought @17.3 right at spot; 17.3 - 2.25 = 15.05 will be the spot target of this smackdown.

Could be lower than 15.05 though; I had similar experience before which is, the special you got turned out to be a rip-off. :P

Nabullion Dynamite said:
Nope, that sale ended after spot began making an upturn. Back up too $2.25 premium
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The false break out above $1250 and the slump would do nothing for the appetite for gold. I reckon we'll see a new low below $1140 before too long
 
Yep SP you are so right, but as usual I was a day late and a dollar short as they say, I will now buy not sale if the drop continues @ this moment it is $16.34 -.90 cents US dollars.
 
I know everyone is losing their minds right now but 8 or 9 short weeks ago I was buying silver @ $19aud. It's still too expensive to buy either even if they both shed another 10%.
 
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