Ping.
Strong dollar on European weakness and Japan's money printing.
Defltion, see today's PPI, and Empire Index.
And maybe good old fashioned capitulation.
Bought my silver when it was $13/once. I am still ahead of the game. If silver goes that low again, I will buy more. Right now, I am holding on to it. If silver goes back up to $30/once, I will probably cash it in and buy more ammo.
Delusional analysis built on the shaky premise that what’s being paid for pieces of paper purporting to be ownership of precious metals remotely resembles the price one pays for actual physical ownership of the metals.
The market is reflecting the fact that a lot of paper has been sold that isn’t backed fully by actual precious metals.
Try buying physical gold or silver anywhere in the real world for the prices at which this paper is trading. Not going to happen.
Screw ‘em. I bought some triple-leverage silver ETF (USLV) this morning at the open. The decay will be deadly if They just jack silver up and down, and of course much worse than that if it drops any more.
But I’m seeing nothing in any economic report that says it’s getting better overall and a lot that says it’s getting worse, which means continuing Federal Reserve counterfeiting for the foreseeable future.
All paper assets eventually return to their true value...ZERO
I just bought some more silver yesterday. A good time to buy.
The price setting of silver in London has no relation to the true price being paid for physical metal everywhere else.
Supply is tight, and demand is through the roof, and you will pay a hefty premium if you want to hold your silver in your hands.
The paper and physical markets have diverged greatly. The paper price is irrelevant, but it is like a zombie that does not know it is dead yet.
I see prices on the order of $2,410.21 for physical possession of 100 oz bars(.999), a 5% premium.
Is anyone doing better than this?
taken to the woodshed.. heh
I got the splinters to prove it.
This is a long term secular move down with the US producing more oil each year and more oil pushing the value of the dollar up each year—which pushes gold down. Throw in a growing oil led economy that pushes down US government deficits and the future of gold is locked in down.
US shale energy creates global oil ‘supply shock’
Booming oil production in North America brought on by the shale energy revolution has created a global “supply shock” that is reshaping the industry, the International Energy Agency said on Tuesday.
http://www.telegraph.co.uk/finance/newsbysector/energy/10055785/US-shale-energy-creates-global-oil-supply-shock.html
(btw it may be no coincidence that this supply shock comes at the same time as the obama meltdown because the first opec price HIKE came at the same time as the watergate was getting started in 1973)
I’ve given up on Fox lately because of all the ads they run on gold and reverse mortgages. I am particularly ticked off at the Debbie Boone commercial for face lifts. Can’t Fox get some decent commercials?