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Originally Posted by John Holmes III
The spot prices for gold and silver have dropped dramatically the last two days. Does anybody have a clue?  |
See the first post... what break?? ... no big
Quote:
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Originally Posted by John Holmes III
Silver prices tend to move in tandem with gold when investors are looking for a haven from equities, especially during bear markets such as this one or in times of high inflation. But the similarities end there. In the past five years, silver has fallen from as much as $7 an ounce to under $5, while gold has risen over the same time period from $300 to more than $360. |
John it's hard to respond to your post because the information seems so dated - below are the current charts for silver and gold. If the little blip last week is what you'd call dramatic I'd stay away from this one - Gold can open down $20-25 anytime now and silver broke 50 cents in three days last month. Yes there is a potential for a squeeze in silver as known stocks (operative word - KNOWN) are declining and at less than 500 million oz. Silver Users Assoc. are fighting an ETF in SLV because it could easily empty the vaults. The collapse you refer to would be the actual market for delivery, but not the price. The reality is that there are significant hoards of silver that don't show up in the stats. and at high prices will come to market.
For Kamil - run, don't walk away from these unregulated dealers that issue receipts. Much as they'd like to be real they're not, and you will lose everything with them. Scams in the metals are the norm, but there are exchange traded contracts as small as 1,000oz. If that's to much for you just buy coin as mattress money or stick to the GLD trust