Oh crap, silver is dropping!

G

Gigrantor

Member
Hey guys,

I just noticed that silver has dropped over 60 cents in around 20 minutes and it appears to be continuing to drop.

I've been waiting to see what happens to the price as I was planning to buy some more this week.

I guess its time for me to play the waiting game...
 
I suspect the involvement of the big players today...

Price rises = silver asserting its true value

Price falls = criminal manipulation

;)
 
I was expecting this to happen this week.

I suppose, either it will continue oscillating relatively high around 22-24 $ and consolidate before climbing higher. Or, it will correct further, probably drop below 21-20 $ (that would be a big move) and we're all back to the lows and the spike will have been short-lived, not a precedent for a further rise.

There's high volatility, but because of this spike I expect more spikes and drops during this period. I think it's anyway typical to late summer...

Major movements will happen in September, do doubt about it!
German elections and euro's fate, Greek bailout (they need more money and I don't think other EU countries will agree), taperig news... etc.
 
Treasurehunter,

"Major movements will happen in September, do doubt about it!"

Up or down?

Me and the Mrs were talking about finally pulling the trigger and getting some PM's....

Cheers
 
any one who thought it would keep going up to DA moon has rocks in their head

it will trend pretty much sideways for a few more years yet
 
Court Jester said:
any one who thought it would keep going up to DA moon has rocks in their head

it will trend pretty much sideways for a few more years yet
Click to expand...

A $5 move isn't sideways.
I can understand if you said months, but years? that kind of statement is based on absolutely nothing.
 
Hehe...

10749_screen_shot_2013-08-20_at_44906_pm.jpg
 
Bit off topic...but didn't anyone see the finance report on the 4 o'clock news? They showed a chart showing how many hours you needed to work on minimum wage in a dozen countries to be able to buy, wait for it....a BIG MAC from McDonalds. I was and still am gobsmacked.
 
Big Mac Index link is here
It takes 34 minutes of work to earn a Big Mac in the birthplace of the burger, compared to 22 minutes in New Zealand and France and just 18 in Australia," say the strategists. "A worker in India would have to work about 6 hours."
Click to expand...
 
It would be interesting to a graph like this showing how many hours a person has to work to be able to afford to buy an ounce of silver.
 
Is that a Big Mac in Australia, USA, or a in each country? I.e does it take an Indian worker 5.8 hours to earn enough to buy a Big Mac in India or in the USA?
 
In each country. It's a cost-of-living measurement, since it takes the same raw ingredients and combination of land, labour and capital to make a Big Mac, no matter if it is in Delhi or DC. It is supposedly useful to measure whether a currency is over- or under-valued relative to the $US.
 
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