Seriously these moves are incredulous.

Q

QLDSILVER

Member
Being a follower of the metals for some time I would have to honestly say I have never seen these kinds of moves which are happening at the moment. I would also admit that after being a follower of the late Bob Chapman and the living Gerald Celente I have to admit that they both stated we will see the most incredible price moves in the days/weeks in metals we have ever seen. They both stand correct, and I fear its only going to be more explosive.

Interesting times ahead..Truely a strong constitution is required.
 
Spot silver @ A$26 oz has been my support level for ~18 months.

Will we soon see some downward spike that even the so called die hard seasoned investors will question their resolve?

Who really knows!

I am ready and waiting patiently to respond if and when the hallelujah moment arrives. ( read the so called fat tail 3 to 5 standard deviation or more trade)
 
I used this oppourtunity to make my largest ever purchase(s) out of my savings...I've thrown everything I've got into it and even considered 'leverage'.

Why anyone would be down & out about these prices has me stumped (and there are a few on the tube and blogs)...we'll never see these prices again.
 
Clawhammer said:
I used this oppourtunity to make my largest ever purchase(s) out of my savings...I've thrown everything I've got into it and even considered 'leverage'.

Why anyone would be down & out about these prices has me stumped (and there are a few on the tube and blogs)...we'll never see these prices again.
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admire your conviction ch
 
Would a chartist care to comment on the shape of those Gold & Silver bounces (off 1630 and 26.8)? They look exactly llike inelastic collisions - the path taken by a steel ball-bearing dropped onto a concrete floor. Wonder which one will shatter first?
 
Commodities falling, even down in the 3-5% range in one night so far tonight and the DJI near 15,000...it feels like deja vu...
 
It's just the story of fiat currency all over again. The US dollar lost it's foundation when it's link to gold was removed and it was no longer backed by anything that was truly rare (gold) and it just became paper. The gold and silver market were also once backed by something truly rare (gold and silver) and hence reflected their true value. Once "paper" gold and silver were removed from the gold and silver standards and could be "printed" and rehypothecated at will then "paper" gold and silver became a trading fiction supported by nothing but speculation.

So the real issue as I see it is that no-one knows the real value of gold or silver now. All we see on the charts is the current "value" of paper concepts called "Gold" and "silver". Clearly this paper construct will blow away in the wind sooner or later, along with all of the other collapsing paper castles. And when it has all fluttered away like "tears in the rain" those lumps of metal will probably re-take their thousands of year place again as stores of value. Central banks seem to be preparing for that day as we speak.


.
 
I've been following the prices of silver for almost 3 years now. Never had the financials to get involved. This drop has forced me to finally take action and buy my first ever physical silver position. 200 oz should do it I think. 1x 100oz bar, 5x 10oz bars and 50x 1oz rounds.

What do you think?!
 
Jonesy said:
It's just the story of fiat currency all over again. The US dollar lost it's foundation when it's link to gold was removed and it was no longer backed by anything that was truly rare (gold) and it just became paper. The gold and silver market were also once backed by something truly rare (gold and silver) and hence reflected their true value. Once "paper" gold and silver were removed from the gold and silver standards and could be "printed" and rehypothecated at will then "paper" gold and silver became a trading fiction supported by nothing but speculation.

So the real issue as I see it is that no-one knows the real value of gold or silver now. All we see on the charts is the current "value" of paper concepts called "Gold" and "silver". Clearly this paper construct will blow away in the wind sooner or later, along with all of the other collapsing paper castles. And when it has all fluttered away like "tears in the rain" those lumps of metal will probably re-take their thousands of year place again as stores of value. Central banks seem to be preparing for that day as we speak.
Click to expand...

I'm with Jonesy on this one...
 
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