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deflation

Silver Down Again

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Anybody else noticed?

I know metal prices can be volatile but down 14.4% in one day, and down 30% in a week. Some slide for silver:

http://www.bbc.co.uk/news/business/market_data/commodities/40380/one_month.stm

I wish I had taken Clive Maund's advice at the start of Sept to invest in a certain silver shorting fund - last time I looked it had made 29% profit in a few weeks.

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Well, it did more than double in a year and it's still up on the dollar over 12 months: http://www.kitco.com/charts/popup/ag0365nyb.html

It is one hell of a fall though. I'm assuming it is a squeeze on liquidity which is causing people to sell. I was in two minds whether to buy in before this latest crisis, but I remember in 2008, gold fell badly too before charging up again. I wouldn't be surprised if something similar happens again, but I'm no trader.

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Don't forget that Libya had large gold and silver reserves, it wouldn't surprise me if the part of the price for the West helping the rebels is to off load some of those metals into the market.

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Is that because 200 extra tons of silver is coming onto the market from the bottom of the Atlantic?

http://www.bbc.co.uk/news/uk-15061868

I thought that too but 200 tonnes is only 0.007% or thereabouts of the total supply. Even allowing for most of it never trading, that just doesn't seem like enough to move prices that much.

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Feck that's a fall and a half. The markets appear irrational these days, I've pretty much given up trading and am just sitting on my hands because big falls and rises are coming out of nowhere.

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I hope you don't mind me saying, but that sounds about as pointless as numbers on a screen. :rolleyes:

We sweated and sold you stuff and you lazy white fish went hocky for it. And now you want to pay in sh*t.

....well there's sh1t ...... and then there's stuff. Which one's the pointless screen numbers?

Thing is, the sh1t drives the stuff price ........ right up until it doesn't.

??

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Anybody else noticed?

I know metal prices can be volatile but down 14.4% in one day, and down 30% in a week. Some slide for silver:

http://www.bbc.co.uk/news/business/market_data/commodities/40380/one_month.stm

I started a topic on gold collapsing yesterday ( which was merged into the gold thread )...it looks like many people are cashing in. The Gold/Silver bubble will loose a lot of people a lot of money...the time to buy was 3 or 4 years ago.

Considering people here are amazed at how the housing bubble fooled people they don't half buy into the whole "buy gold" thing.

Edited by TheCountOfNowhere

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I started a topic on gold collapsing yesterday ( which was merged into the gold thread )...it looks like many people are cashing in. The Gold/Silver bubble will loose a lot of people a lot of money...the time to buy was 3 or 4 years ago.

Considering people here are amazed at how the housing bubble fooled people they don't half buy into the whole "buy gold" thing.

Its times like these that the reality sets in. That reality is that money can be lost and also sanity if enough money is gambled on PM`s.

Ok the price may go back up, but I`m betting the ones who bought chuncks of gold and silver last week...and there will be many, are now worrying themselves a fair bit... It can all be rationalised by saying that gold is the ultimate hedge and real money blah blah,but at the end of the day is it worth losing your marbles over.?? :unsure:

Edited by GinAndPlatonic

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  • 331 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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