Are Gold and Silver gonna keep going down?

[Ripon83]

Han Seng down 3.25% in 15 minutes.

[laurelpark]

Yeah, and metals are also down. Really weird market dynamics.... Kind of interesting to see it all play out.

[Ripon83]

http://www.marketwatch.com/investing/index/HSI?countrycode=HK

3.7% with minute to minute fluctuations. Considering Chicoms just announced a $19b dollar govt buy in this is pretty wild. I think the market was down about 20% already now pushing 25% for the year.

[laurelpark]

What's really interesting is to watch the CES, which is the market the government has put in place for the "regular" investors. That was artificially propped up until about a few minutes ago, and now it is down. The 4000 level is a serious psychological level that the Chinese government does not want breached, but it looks like it's headed below that very soon. The Communist Chinese government thinks it is all powerful, and so does it's populace. When something like the stock market follows common market (capitalist) patterns, it must have the government leaders wondering why they promoted it as a way for the populace to generate wealth. If the psychological levels are breached, the faith in the government will be breached, and things will get rather interesting.

[keenkeen]

http://www.marketwatch.com/investing...countrycode=HK

3.7% with minute to minute fluctuations. Considering Chicoms just announced a $19b dollar govt buy in this is pretty wild. I think the market was down about 20% already now pushing 25% for the year.

You mean only up 25% for the year?

[sixoclockhold]

You mean only up 25% for the year?

No pickin on Rip, he's my homie, you pick on me

Golds up ha ha ha ha ha haaaaaa

[keenkeen]

No pickin on Rip, he's my homie, you pick on me

Golds up ha ha ha ha ha haaaaaa

Picking on you!?!?

Seriously, feelings of persecution and grandiose beliefs can be indicator symptoms...if you are having these thoughts maybe sit down and speak with a professional about them.

[sixoclockhold]

$1,155.60 from a technical stand point, one could make the argument now in the future should we rise that in fact a triple bottom could be drawn.

I tend to think we get a hammer down on Friday leaving no doubt.

Delivered Fuky Guru

$1,153.50 today on $1 billion paper short....

$1,150 holds per Fuky Guru

[sixoclockhold]

Silver now 77.34 to 1 GOLD

At this rate, Greece should make a silver content coin, borrow a bunch of silver and platinum from Russia while inviting all tourist to "Come see the Greek Islands" and spend your PM's.

Thumb their nose at the world and have a PM backed currency. Worked for Millennium. Who knows maybe even US and China might donate?

[Dutch3]

I said if silver dropped below 15 I'd buy more.

So I just did

JM' site is down to a crawl. They must be getting hammered.

[sixoclockhold]

$1,153.50 today on $1 billion paper short....

$1,150 holds per Fuky Guru

I've lost all credibility

But it has been fun and entertaining to say the least.



$1,146 hit....

[ohsmily]

Premiums are high on everything making the drop not so helpful right now. No sales on coins.

[laurelpark]

Be careful of the sucker's bounce... A lot of things just hit a point where they may draw in some buyers, and if the dollar jumps again, it'll drive the price down faster than the buyers can counter. That will freak everyone out and we'll see another leg down.

I'm standing by to jump on it if we see this happen. Maybe Avi Gilbert was right - it seems to be following his prediction to a T.

[F8ality]

Wow, I am way behind on this stuff but have been watching it a lot lately. Are these drops completely out of the ordinary....

Sent from my SM-N910V using Tapatalk

[laurelpark]

Wow, I am way behind on this stuff but have been watching it a lot lately. Are these drops completely out of the ordinary....

Sent from my SM-N910V using Tapatalk

It's actually been expected - the US dollar jumped like crazy today, and that makes metals more expensive for the rest of the world. So, when the dollar jumps, metals prices tend to go in the opposite direction. Furthermore, China is a mess, and if things slow down in China, metals that also have an industrial component fall like mad. Silver, platinum, and palladium really took a beating lately (which I see as a big opportunity).

The downside is that all the dealers just kicked their premiums up to counter the drop. For the physical buyer, this drop isn't helping much...