23 votes

Gold and Silver Slammed!

Gold at 1378

Silver at 23.48

Price updated on 4/15/2013

http://www.kitco.com/

I hope this trend changes quickly.




Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

How do you figure?

Priced in real money, silver and copper have been quite stable since 1980. The $FRN has been all over the map.

http://pricedingold.com/copper/
http://pricedingold.com/silver/

Free includes debt-free!

at what point are we going to protest this!!!

we have been buying!!

buying pressure has been through the roof for a year but the ETF fraud on paper certificates is still tumbling silver!

At what point do we stand up and protest the fraud on our gains!!!

sure, I'll buy because it is lower than i've seen it in a year or so, but am I excited about it? NO!

I am now worried that the idiots in stocks are so over-confident in their paper that the exchange will be given full fraudulent authority to sink us into the ground.

At this point why can't they push us back down below 10 dollars an ounce hell I thought we'd be over 40 by now... apparently ignorance spreads thick enough to cover their excess.

SO ANGRY RIGHT NOW

Whether you think you can or you can't, you're right. -Henry Ford

Buy More

buy, buy, buy.

Cyril's picture

1. Rent .............. check

1. Rent .............. check
2. Bills ............. check
3. Food .............. check
4. Home cash ......... check
5. Monthly silver .... check
6. Broke checking .... don't care

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

This fluctuation is sensical.

This fluctuation is sensical. If gold and silver are going to be global currencies, their prices must go down so that they are in the hands of people worldwide. I don't know why this price change is a surprise to anyone. Likely, power players are making moves. Likely those moves are to transport those metals to "here" and "there" around the world so that those players position themselves as the top of world regional pyramids from which people worldwide (the World's People) and especially businesses smaller than the power players will buy. Gold and silver ownership: Power players --> people worldwide and businesses which then is --> people worldwide. It's quite simple, guys. Very simple.

Just understand how the world works. Swings such as this one are normal and will go on for years. Think big, DPer. Globalism in the name of freedom is occurring before your eyes. Your promotion of these minerals is, in addition to your being the subsidizer of every industry (read: every producer and transformer) of these minerals, the allowance of yourself to be a global citizen, DPer, which is to say: You're destroying the US Constitution.

Root for the US dollar if you want the US Constitution and to avert separation anxiety: from one currency to many currencies, all of which will adhere to globalism. If you live outside the United States, then root for your country's currency. Each of our countries' fates depends on whether each country retains its currency, whose basis is dependent on the USD. If the USD falls, country X's currency falls. The DPer who promotes his country's suicide without knowing it (or worse, knowing it) dumbfounds me.

School's fine. Just don't let it get in the way of thinking. -Me

Study nature, not books. -Walton F. Dutton

theres nothing normal or

theres nothing normal or ordinary about this selloff. gold hasnt seen a negative fluctuation of this size in about 30 years. its akin to a small meteor strike to the market. as far as devaluation for currency's sake. know that there isnt an ounce of gold in the world available for every soul on earth. Not sure how that equates to devaluation for the sake of being a monetary base. It takes a certain price just to mine the damn stuff, which has been breached by recent price depreciation. so this turns into a fun situation. miners will be hurt and production will diminish. exploration money will evaporate so finding newer prospects will fall. who fulfills that demand at low prices? its non-sustainable.

Cyril's picture

Relevant to this thread; enjoy :

Relevant to this thread; enjoy :

Gold & Silver Chart Analysis Week Ending 4/12/2013

http://www.dailypaul.com/281798/gold-silver-chart-analysis-w...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Screw that

Keep coming down! Please! I want tobuy lots of gold and silver. We all know it is going right back up... The fake dollar is useless, hell even with bit coins 75% drop, it is still a better bet then the US dollar. We owe too much, it is just a matter of time until complete collapse.

Price controls result in shortages

Nominal prices for paper silver and actual prices for physical silver show this gap. Anyone selling at spot gets bought immediately. You can buy all the silver you want right now for $40 an ounce. You can buy junk silver on APMEX today for $31 an ounce.

People talk about fab costs on silver rounds as an excuse for this. There's no fab cost on 90% silver. Heck, it was made 50-100 years ago, what's it doing 5 dollars over spot?

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

I consistently...

I consistently watch eBay; as it is truly a "pay what you think it's worth" market. Last night, I watched 9 different auctions end - from generic rounds to silver eagles. A generic round went for $46, an engelhard went for $42, silver eagle for $38, silver eagle for $48, and similar results for the rest. The lowest of the 9 I watched went for $36.

The markets are definitely not adding up. I have not seen anyone selling their silver (businesses) for less than $3 over spot.

So what the answer to the paper EFS markets pricing.

Would Real transactions recorded on ebay and actual sell offers be a better reflection of the physical market.

Free includes debt-free!

Cyril's picture

Oh, yes... eBay... speaking of which I posted about peeking into

Oh, yes... eBay... speaking of which, I posted about peeking into it not so long ago, if anyone's curious:

Do-It-Yourself data mining - silver coins demand trends on eBay - Q2 2012 and Q1 2013

http://www.dailypaul.com/275438/diy-data-mining-silver-coins...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Very interesting link.

What is the average price in gold and what is the velocity in oz/day.

Free includes debt-free!

Cyril's picture

Well, obviously. A nobrainer.

Well, obviously. A nobrainer. I can confirm I was buying at less than $1 over spot... in Q3 2012, when we were still in the 30ish+ ranges.

And now I just bought again at almost $3 over spot, and that's because that'll be neither bank check nor credit card and quite more than just 10 ounces...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

So, what "just happened" with gold yesterday?

So, what "just happened" with gold yesterday?

(Meh. I really have close to zero clues, of course)

But after surfing a bit the web, two main theses seem to want to compete... some people like to talk about ongoing heavy manipulation behind the veil (central banks-related, quite "naturally"), others prefer to think of simpler to explain, classic liquidation behavior of traders, after their learning about the release of bad economic news. On the latter thesis, I found this one piece interesting to read:

http://www.futuresmag.com/2013/04/12/gold-futures-decline-on...

Well, might very well be. After all, if one asks genuinely: was there REALLY nobody expecting such - oh, surprise! surprise! - bad economic news eventually coming up, anyway?

Thoughts?

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Update for sake of clarity:

Update for sake of clarity:

Now of course be cautious with the link's credibility I just gave... As you can ALSO read this snippet of typical propaganda nonsense elsewhere on the same website, same time frame:

http://www.futuresmag.com/2013/04/12/commodities-slump-as-de...

"[...]It’s partly driven by a number of investors who have come to he conclusion that it’s not attractive to be in commodities, especially with what’s going on in the stock market,” said Jesper Dannesboe, senior commodity strategist at Societe Generale SA in London. “When people see gold going down, that might have reinforced selling in other commodities. We think it’s overdone in base metals, in oil, because the global economy is recovering. In gold, this is the beginning of the bear market.[...]"

LMAO. "Global economy recovering"... Yeah, right! Suuuure. Reminds me of this:

http://www.dailypaul.com/279371/you-just-cant-make-this-stuf...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

My article on gold and silver markets

My article on gold and silver markets should be out soon. Just waiting on Seeking Alpha to approve it.

Had a record day of sales yesterday. Plenty of supply including 90% bags, although those I am limited to two. But premiums have shot up on mostl silver products.

My main supplier told me "no one is selling, everyone buying." This is true with all my clients as well.

There is a disparity between physical supply and paper price, especially with silver. Wrote an article on it when I first saw the discrepancy in March.

Crazy times, but this is what Market Makers do. They get the late comers and especially those on leverage to scream UNCLE!

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

How to Crash a Market

http://screwtapefiles.blogspot.com/2013/04/how-to-crash-mark...

HOW TO CRASH A MARKET

Gold
Yesterday we reported the critical inventory level at the COMEX and JPM VAULTS. First the FEDs leaked out the FOMC minutes early and compounded the sell off by announcing that CYPRUS would sell 400 million dollars worth of Gold. Cyprus banking sources said no such talk took place.

SO WHAT TO DO NEXT? T
here is only one way out of this. MAKE THE MARKET COLLAPSE and trip up all the stops at 1525. Then ---as the market collapses, STOP THE PHYSICAL MARKET FROM the ability to buy. And how can that happen? Read on for today’s lesson in market manipulation."

http://screwtapefiles.blogspot.com/2013/04/how-to-crash-mark...

Here is a list of a good number of online dealers

http://www.dailypaul.com/281456/looks-like-a-shortage-in-phy...
They are having trouble keeping up with orders.
I know someone who acts as an affiliate for one of the pm dealers and says the last two days have had record number of orders

The mainstream thinks the recession is over , cyprus was a none issue, japan printing is its own issue and the stock market and housing markets are roaring.
No problem, buynstocks houses and dump gold and silver is the current misperception
Those that know better are loading up on gold and silver

Please subscribe to smaulgld.com

Cyril's picture

C'mon, sierra! I can still find silver to buy...

C'mon, sierra! I can still find silver to buy...

Wait... Granted: it's only taking longer and longer to get delivered, I noticed, though, that's all. It's just a week or more to wait before shipping, instead of a couple days (2 to 4) like last year.

Mmmm... (12 days now. Still counting.)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril

You can go to Apmex and buy a tube of Eagles, or even a Mint Case yes......but we're talking about a place where a big player can show up with $100 million in cash...and take delivery of 5 to 10 MILLLION ounces at a time.

Ok?

Apmex may have 3 to 5 million of total inventory at any given time. We are talking about a whole different group of buyer.

There is NO silver for big players to buy in size.....in cash, for instant delivery, ANYWHERE. None.

hell I wanted to spend 40k

hell I wanted to spend 40k and they couldn't find the 90%.

Cyril's picture

Absolutely.

Absolutely.

But I was maybe a bit sarcastic, you know...

Although pretty stealthy. Granted. ;)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

deacon's picture

would that indicate

that your supplier is having a hard time getting it in?
deacon

setting your expectations to high,can cause depression

Cyril's picture

"Not my problem". Theirs. Just a customer, here.

"Not my problem". Theirs. Just a customer, here.

Of course, I can only let you draw your own conclusions for yourself, considering I'm just your "average honest working Joe" and not a millionaire buying silver or gold by the dozens pounds or kilos;

Can only afford by a small handful at a time monthly.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

deacon's picture

wasn't trying to draw anything

just asking for my own needs
as I am just an american joe scraping pennies to get by
but feel free to draw your own from my questions
deacon

setting your expectations to high,can cause depression

Cyril's picture

To that, then: IMO, we just can't make mistakes

To that, then:

IMO, we just can't make mistakes with holding physical silver or gold, whatever we can afford. You can't wipe away thousands of years of real money's meaning with all the "Interwebs", iPhones, nice cars or credit cards, gadgets, or other debt society's whatnots of the universe.

Keep stacking what you can; stay safe, you too. :)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Michael Nystrom's picture

I was just about to post that

You beat me to it.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.