The mind boggels... stocks are downby 600+ points oil is down and now... GOLD is down? something smells fishy... i wonder if some one is manipulating the PM market... what are your thoughts?
From a blog I read. This guy is on top of the Silver Market: From Silver Doc: My direct thoughts concur with those above. The PM prices are being driven down as big money dumps worthless paper, driving the price into the basement, maximizing their buying capability. They gain boat loads of fiat and immediately snatch up physical bullion at the now lower and lower prices.This, my friends is not conspiracy theory. It is basic economics.
Yeah what he said. I'm in the same boat. It's get out of Electronic Commodities and into the real thing. Wishing i had FRN's to turn into PM's. Trying to reduce debt is hard enough at this time. Peace out! Naughty Monkey
People are selling PMs to cover their losses in the market. Don't fret-just be thankful for the opportunity to buy at a lower price. And be thankful that you aren't me. I bought silver eagles five days ago. Still, I don't buy for any reason other than to have for the future. So expensive is okay and cheap is wonderful.
Ugrev, that margin hike has been rumored for a good long while, and I find it exceptionally hard to believe that the "leak" got to more than a small percentage of the folks selling off. Either way something is indeed "fishy". Oh wait, that is right, the metals market is heavily manipulated.
I'm no financial guru; but I come from a family of jewelers, and I returned to being a jeweler when I retired from the military. The PM markets affect me directly and personally every day. Therefore, I watch them closely. Something similar to what is happening now in the PM markets happened in 2007/2008. Gold erratically climbed all year until late summer, and when even the most risk-prone traders realized that the end of the run was approaching, a sell-off began. It lasted for a few weeks, until serious gold investors, knowing full well that gold ALWAYS climbs in the weeks preceding Christmas, began buying again, driving the price back up, and even higher. The PM markets are of course manipulated, but I don't see a conspiracy here; just self-fulfilling prophesies. The investors fear a drop, and sell; creating the drop. They assume an impending increase, and buy; creating a rise in price. I, personally, am hoping for another hundred dollar an ounce drop, at which point I will buy the sizing stock and findings that I have been putting off buying. I am then assuming that it will begin to rise, certainly by November; and I will ship my scrap for refining just before Christmas, which should be at near peak price. I watch the PM markets at: Live Gold, Silver, Platinum, Palladium Quote Spot Price Chart - Kitco and that site provides a great ability to research historical market movements and trends.
ill stick to my brown and green gold (soil and crops) and my shiny bits of iron....lol when the world is trading gold for a meal, ill wind up with lots of the sh*t
