I wrote an article a week or so ago and posted here on the physical demand of the metals of late (especially since Obama got elected). I have had record months of sales yet the price has been falling. I pointed out this divergence to those who were not aware.
In 4 days this month, I have done half the business I did all last month. People are buying and they are buying big.
This is what the smart one's are doing anyway.
Can the price fall further? Sure it can. I haven't written my "all-in" article yet, but am getting closer. Market Makers like to punish the late buyers, or those on leverage with a final push down. The last 3 days we have seen a nice push down. I can't say it is the final one yet because I expect a $50 - $100 or more move in gold and $1 or $2 or more move in silver to get those who bought on leverage to scream uncle.
Will it come? Don't know. But seen it 100 times when I traded stocks. We may even get a push higher before the final smack down. Those that dollar cost average in hope for a lower price. Those that buy now don't care if it falls 10% or more when they will be doubling their money in the next few years.
Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!