Posted on 02/01/2026 2:14:49 PM PST by nickcarraway
The price of gold fell from a record $5600 to $4770 per ounce. On Friday, the price of silver fell by 31%. This is the biggest percentage drop in the price of this bullion since March 1980. What could be the reasons for such declines?
Gold hit a new record high on Thursday at $5600 per ounce. Silver was trading at $120 per ounce. Suddenly, precious metal prices began to fall. By Friday evening, gold was already costing $470 per ounce.
Gold fever reached a new high at the beginning of 2026, with prices hitting a record earlier this week. All over the world, people queued up to sell bullion they already owned or to buy it.
Consumers went to local retailers to cash in their gold jewellery. Some are buying gold coins or bars for the first time. Others are investing in exchange-traded funds, trading the value of the metal in a way similar to trading shares.
(Excerpt) Read more at euronews.com ...
The value of gold in the long term is the cost of mining it, refining it, the cost of bringing it to market, and an acceptable profit margin.
It’s a supply and demand thing.
The plunge happened on the last trading day of the month.
They/Them sorting out open positions.
They/Them sorting out and taking care contract holders expecting delivery of non existent gold and silver
We shall see
Gold closed Friday 4870ish
Opened in China at 4835ish
dropped to 4486ish
back up to 4778
Buckle up
Now chips, maybe.
But mostly what I am seeing is emotion driven buying.
And that turns into a bubble.
“They have a small amount of physical silver relative to what they’re claiming. They have a lot of paper silver.”
You are just making that up.
“Go out and learn about paper silver vs physical silver. (Hint: paper silver is not silver.)”
Silver pimps spout the same mantra. Your words are almost verbatim from Delta7’s post.
He has been banned from directly promoting his services having deleted threads labeled as scammer.
“Go out and learn about paper silver vs physical silver. (Hint: paper silver is not silver.)”
LOL! I was daydreaming futures options 40 years ago.
And I can also spot a shill like from a mile away.
“Why do you want me to answer the same question twice?
I don’t mind answering it twice, but it just seems like you’re not serious.”
Proof that you never answered the first time is when tou responded to me just previously “What question?”.
I know you are just playing. That is ok. Every post gives me another chance to expose your BS.
Even when the bubble bursts some will deny the bubble ever existed.
They accuse certain people of fraud because they parrot the shills. When the rug is pulled will they accuse the shills of fraud?
At 1057EST, 2026-02-02, silver spot price was $76.98/ozt
January 2026 $116
January 30 - $85 February 2 - $77
“When people ask personal details like that it raises concerns.”
When posters pump an item without stating their own strategies it identifies them as dishonest shills.
It is referred to as open disclosure.
“I will tell you I’ve considered silver to be a reasonable target since prior to 2017.”
So, you have been buying right up until the crash ‘stacking up’ at $120 ...
Once again,for the challenged. The monthly closing numbers. Jan 30 closed at $85.23 to be exact. Volume 904,000. You are looking foolish. The last day of Feb will be much higher. Keep stacking, it is a “gift”. Hi Ho Silver!
*Monthly closings:
2025
January $41.02
February $42.50
March $45.00
April $48.00
May $50.00
June $55.00
July $60.00
August $65.00
September $70.00
October $75.00
November $78.00
December $80.00
January 30, 2026 $85
“Once again,for the challenged. The monthly closing numbers. Jan 30 closed at $85.23 to be exact”
Today - $78.69.
Down another 8%.
“The last day of Feb will be much higher. Keep stacking, it is a “gift”. “
You told me to sell everthing and buy at $120 just hours before the crash.
87 posted on 1/29/2026, 5:31:36 PM by delta7
“Hi Ho Silver!”
Once again, it is not ‘High Ho’.
You told me to sell everthing and buy at $120 just hours before the crash.
ME: You told me to sell everthing and buy at $120 just hours before the crash.
————————YOU—————————
That’s some accusation. You are deranged....or smoking crack! A bitter old keyboard warrior, looking more foolish every day....drive on....get back with us in a few months.
You can rewrite history on your website and on the podcasts but not here.
————YOUR POST TO ME LAST THURSDAY JUST BEFORE THE CRASH—————
Best you do what the smart money is doing, sell and buy PM’s….its all about economic cycles. Be sure to get back with us.
87 posted on 1/29/2026, 5:31:36 PM by delta7
“That’s some accusation. You are deranged.”
You absolutely know that I am not deranged.
Remember a few months ago when you said similar when I posted that you agreed with Armstrong’s prediction that a civil war would begin in the USA January 2015?
Yep. You kept denying it. I let you keep digging your hole deeper then I posted your earler post disproving your denials.
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