Silver price about to plummet

[sixgun]

11 hours ago, Wonger said:

Expected Gold price action from here short term, will be shorting into any further advance into the $1630/40 area because this rally is going to fall apart! 

Stop joking man - a certain European bank is blowing up on it's shorts.

[Minimalist]

11 hours ago, Wonger said:

Expected Gold price action from here short term, will be shorting into any further advance into the $1630/40 area because this rally is going to fall apart! 

 

 

[Wonger]

Gold is now going to crash over $1000 down to the $400-$600 area is my opinion and if dont believe me just watch! 😉

[sixgun]

Wonger - no-one is selling physical at these prices - the paper price can go to $10 an ounce - it doesn't matter.

ABN Amro (Dutch bank) is forcing their customers out of their precious metal positions - the gold will never have existed - now what are those customers who want gold going to do? The paper physical ratio is over 100:1 - possibility 100 cashed out customers chasing the 1 physical.

There is going to be a stampede into precious metal. The paper price may get smashed so as to cheat those who are in unallocated holdings where the gold never existed. These people are going to run to metal. Refiners are closing down - miners are closing down

https://seekingalpha.com/news/3554797-south-africa-to-impose-21-day-lockdown-on-miners?utm_medium=email&utm_source=seeking_alpha&mail_subject=dust-nugt-south-africa-to-impose-21-day-lockdown-on-miners&utm_campaign=rta-stock-news&utm_content=link-1

South Africa to impose 21-day lockdown on miners

An LBMA OTC market maker is in trouble - suspected to be UBS. In major trouble b/c of its short positions it cannot get rid of. 
People aren't interested in the paper markets now - they want physical.

[Abyss]

IMHO the reason why you hold Gold and Silver is exactly for times like these when so there are many uncertainties in the world. I am not selling any of my stack and I regret deeply when the price Gold recently hit $1450 and Silver below $11 I did not back up the truck one last time and now even at these prices all the dealers have sold out. We have mines / refiners  shutting down and demand is sky rocketing. It has taken eight days of selling pressure move the price of Gold from $1703 to $1450 and only three days bullish price action to move the price to $1635 and from a technical perspective that is very bullish. My prediction in a short time frame (less than month) looking at challenging the all time high Gold price $1920.

2 hours ago, Wonger said:

Gold is now going to crash over $1000 down to the $400-$600 area is my opinion and if dont believe me just watch! 😉

@Wonger I don't believe you and I am watching like a hawk.

[Wonger]

Still not bullish!

[Sherabnamdhak]

Just listened to a trader on the gold and silver market, paper silver and gold is trading but supplies of physical gold and silver are near impossible to get. You certainly can’t cash in your paper of any sort for the precious in any form. His opinion and he’s been trading for 40 years plus is gold will rise to $1900+ and silver to $25+ it will then fall back but overall the price for both will stabilise in excess of $1750 and $20 respectively 

[Michal]

2 hours ago, Sherabnamdhak said:

Just listened to a trader on the gold and silver market, paper silver and gold is trading but supplies of physical gold and silver are near impossible to get. You certainly can’t cash in your paper of any sort for the precious in any form. His opinion and he’s been trading for 40 years plus is gold will rise to $1900+ and silver to $25+ it will then fall back but overall the price for both will stabilise in excess of $1750 and $20 respectively 

That would be sensible in normal crisis. But in modern economy we never tried to shut down global economy for 3 months and try to print up loses, fear and uncertainty. We are at point similar to B-W system end. 

[Chicagodogs]

I believe April will be a very good month for gold and silver.

[Oldun]

Fun day today. Last day of the month. If $14.13 doesn’t hold as a closing, it could (not will, but could) be very bad for silver on the monthly candle chart in terms of paper price. 

[MancunianStacker]

3 hours ago, Chicagodogs said:

I believe April will be a very good month for gold and silver.

April will be a blood bath in the paper markets!!! 2nd half of the month I reckon and then it’s all over. 

Enjoy the dead cat bounce until then!

Both gold and silver will do the opposite this time. No supply still by then, so it will permanently split from paper pricing.

[MancunianStacker]

On 29/03/2020 at 18:11, Sherabnamdhak said:

gold will rise to $1900+ and silver to $25+ it will then fall back but overall the price for both will stabilise in excess of $1750 and $20 respectively 

It will go higher than this. Markets will plunge in April. Dead 🐈 bounce at moment. 
 

Never before has the world had a 6 month holiday!

[cypressc]

Industry is also on a six-month holiday. 

I think silver is headed below $9/spot. 

[Oldun]

$13.83 on a monthly closing candle is probably now a last line in the sand.

[Oldun]

x3 ETF account destroyer ended 

http://www.direxion.com/press-release/change-in-investment-objectives-and-strategies-of-ten-daily-leveraged-and-daily-inverse-leveraged-funds

[Emu213]

If this is "The Black Swan Event" my prepper friends have discussed. With a possible depression and reset of currency, how will this effect the precious metal market, both short and long term. 

[MancunianStacker]

5 hours ago, Emu213 said:

If this is "The Black Swan Event" my prepper friends have discussed. With a possible depression and reset of currency, how will this effect the precious metal market, both short and long term. 

I think anyone who actually has any physical will keep it and either exchange it for land or property at the top, or exchange it for the new currency when they come out of the other side. The lack of physical is telling imho. 

[5huggy]

1 hour ago, MancunianStacker said:

I think anyone who actually has any physical will keep it and either exchange it for land or property at the top, or exchange it for the new currency when they come out of the other side. The lack of physical is telling imho. 

Quite right 👍  - - why ? would anyone want to swap back for what is now CLEARLY failing devaluing "FIAT" (apart from immediate/urgent funds requirements )

 

[Oldun]

On 25/03/2020 at 04:26, Wonger said:

Gold is now going to crash over $1000 down to the $400-$600 area is my opinion and if dont believe me just watch! 😉

 

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Added 0 minutes later...

Sorry, couldn’t resist...all in good fun

[Michal]

7 hours ago, MancunianStacker said:

I think anyone who actually has any physical will keep it and either exchange it for land or property at the top, or exchange it for the new currency when they come out of the other side. The lack of physical is telling imho. 

In my opinion they are going to introduce new monetary system in next 2 years. That will be point when you should think about selling PM to obtain what you need the most. As for now lets play with monopoly funny money as long as music plays.   

[sixgun]

Silver was plummeting today.

[Ablist]

On 18/03/2020 at 11:28, g33x0r said:

Where?!?!? Premiums are so high silver is almost as expensive as before the drop in price....  Where are you even finding any in stock??!!

From people that are panicked that want more than what the pawn shops are offering. If you haven’t set yourself up for this it’s basically irrelevant. Things are a lot worse since I posted this.

[Ablist]

On 19/03/2020 at 10:33, firestacker said:

Silver price has fallen a lot but seller prices of physical silver seem to be staying at >£16 an ounce as if nothings changed.

What are peoples theory on this? is it dealers being reluctant to readjust their prices or is it just a delayed process until they all replenish their stock?

It’s because paper value is just that - thin as paper. A societies currencies have been here thousands of years at most. Silver is an element. Been here since God or The Big Bang created existence. Will be here long after we are gone. Never was and never will be, anything, like fiat currency.

[Ablist]

At any rate. Not much else to say at this point. Too busy working on real life to indulge the internet much these days. My suggestion to others is to get involved and busy in their own “real lives”, off the net, as well. Don’t want to get caught with your pants down and your **** in your hand because you spent too much time stroking your “godlike” internet persona   ... see you guys in a few weeks, maybe. One love to silver stackers and those that think ahead.

[Ablist]

One final thought. 
 Some parts of liberalism have moved things forward. Some parts of conservatism has moved things forward. Both have also caused damage. Regardless of your ideals, religious beliefs and how you think things “should be”, think locally. Your immediate friends family and neighbors, those that are physically immediately close will end up being your best assets and also weaknesses. No one knows where this is going. Things are uncertain globally for the first time unless a previous vanished civilization experienced their own apocalypse. Focus on keeping yourselves healthy.
 

Shells, Water, Seeds, Neighbors.