What happened to Silver last night?

[Thrashertm]

As I write this - silver is down a full dollar per ounce -

http://www.kitco.com/charts/livesilver.html

What gives? I would think the price of silver would be surging like gold. Is this just people selling out of their silver position to cover other bets?

[Mahkato]

Could be that paper silver investors see that industrial demand will be down a lot over the coming year or more. That's the one major problem with silver vs gold ... bad economy, less demand.

[weatherbill]

the true price is on ebay....

don't fuss yourself with the comex ny price. it is but fraud

[acptulsa]

I don't know, but it already smelled undervalued to me.

[ShowMeLiberty]

the true price is on ebay....

don't fuss yourself with the comex ny price. it is but fraud

I believe you - but how will we know the true price if at some point in the future our ability to connect to the internet becomes erratic or impossible?

[acptulsa]

I believe you - but how will we know the true price if at some point in the future our ability to connect to the internet becomes erratic or impossible?

Your local coin shop.

[freelance]

Comex is now right up there with inflation/unemployment figures--pure fantasy if you want physical.

[Dr.3D]

It could be the manipulators want silver to look like a bad hedge. Silver is a much smaller market and the chances of a silver confiscation is just about zero.

From what I have been reading, there is presently, nearly five times as much gold above ground as there is silver. A smaller market is much easier to manipulate.

You can bet those in control of the system, would rather see people buying gold than they would silver.

[ShowMeLiberty]

Your local coin shop.

Well I hope they're honest. I would really like some independent way of knowing what a fair price would be before going to the coin shop, but I guess that's just wishful thinking.

[voytechs]

The real price is 16.50 - 17.00/oz. Notice that very few people actually go through the auction process. Most are sold with "Buy It Now" button at what ever price. They've been selling last week as high as $2,600/100oz

http://completed.shop.ebay.com/items...86Q2ec0Q2em283

Silver bar 100 oz- 999 Fine. Engelhard
View similar active items | Sell one like this

1 Bid
Sold$1,700.00
$1,700.00

Oct-10 02:24 100 oz Silver Bar Engelhard in Plastic Serial# P662930
View similar active items | Sell one like this



more....

[acptulsa]

Well I hope they're honest. I would really like some independent way of knowing what a fair price would be before going to the coin shop, but I guess that's just wishful thinking.

The other local coin shop.

Competition is good.

Please don't ever forget that there was life before the 'net. Some day this knowledge and confidence may come in handy for us.

[ShowMeLiberty]

The other local coin shop.

Competition is good.

LOL - this is true.

I'm going to have to find out where the nearby pawn shops are located. The other coin dealers in my general area are in neighborhoods I won't set foot in when/if things get really bad.

[Brian4Liberty]

Unfortunately, even valuable things are being liquidated. There is always the possibility that hedge or mutual funds will have to sell off gold and silver...

[Bruno]

Unfortunately, even valuable things are being liquidated. There is always the possibility that hedge or mutual funds will have to sell off gold and silver...

Beck was talking about that just a while ago. And gold is down an incredible $50 today as the stockmarket is down as well.

[danberkeley]

Unfortunately, even valuable things are being liquidated. There is always the possibility that hedge or mutual funds will have to sell off gold and silver...

Why is that a bad thing? It makes it cheaper for those of us who are not leveraged and have cash to buy PMs.

[Brian4Liberty]

Why is that a bad thing? It makes it cheaper for those of us who are not leveraged and have cash to buy PMs.

Bad for those of us already holding a lot of it! Some people are "all in" (or as in as is prudent). But long time gold bugs tend to have a much higher tolerance for volatility, so we won't sell all our holdings in a panic...