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With Colorado and Washington, I expect Metal Halide to spike?
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
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...for protecting them, by mock trial, from punishment...
Gold and silver dropping just a little, but the rest of the market is crashing. The Obama Dump!
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
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The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
$29.44 silver today.
What to do now? Back up the truck to buy under $30, or panic sell?
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Short term silver might go to 28 or even lower. Speculative positions in silver in the paper markets haven't been flushed out yet like they should: http://www.pmbug.com/forum/f13/open-...html#post18904 Technically silver is oversold as of today, however. Tommorow at 2pm ET, the FED posts their January minutes: http://www.pmbug.com/forum/f2/fomc-t...html#post18909 I'd wait for the outcome of that before purchasing anything. It might cost you 50c per oz but it might also save you $1.5.
For gold, the picture is totally different, I think 1600 is the bottom: http://www.pmbug.com/forum/f13/im-ca...tom-gold-2128/
Speculators have fled the gold market already. The physical market is ultra tight as indicated by rapidly falling forward rates: http://www.pmbug.com/forum/f2/negati...html#post18806
and backwardation in the April futures contract: http://www.pmbug.com/forum/f2/april-...ardation-2130/
The FED could still cause damage to gold tomorrow, though.
Silver down to $28.50. I'm not sure what's going on, but my guy won't sell this cheap... Grrr...
I'm expecting a jump anytime now, but I'm not sure why it hasn't happened, yet. I was expecting this dip and planned on using it to buy, but right now, I'm a little flummoxed. Anyone care to explain?
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Options expiry is on monday. That's why all pm prices are magicly pegged to round numbers today, gold to 1575, silver to 28.5 and platinum to 1600.
It works like this: a bank sells options to clients. Options are contracts that offer a client the right to purchase an underlying asset at a point of time in the future. The price of the future purchase is fixed at the day the option is created, it's called the strike. The customer of the option pays the bank a fee for that, called the premium E.g.:
On August 1st 2012, Bank A offered customer B to purchase 5000 oz of silver for $29/oz on January 25th 2013. B therefore paid 2% of the transaction value to the bank as the premium. Bank A will therefore cash in the premium and the options will expire worthless on January 25th IF the price of silver is at or below $29 (+2% premium).
The formula for the Bank to make money by selling options is therefore:
At the expiry date, move the price of the commodity right to the level with the highest number of outstanding options. This way, the bank can cash in the premium and the customer loses it.
You would assume that such manipulative behavior would be visible on a price chart. You bet it is, see (as an example) this gold chart back from 2011. Options expiry dates often marked monthly lows for gold:
Last edited by swissaustrian; 02-22-2013 at 11:05 AM.
Be very careful if you are short term trading metals right now - there is over-the-top blatant manipulation in progress recently, details here:
http://www.zerohedge.com/news/2013-0...orning-mugging
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
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