silverHere comes your daily gold and silver buying opportunity as the cartel drops the hammer on the metals.

After gaining nearly 2% overnight and in early COMEX trading, both gold and silver have just been beaten back via waterfall declines to unchanged on the day.

2013 Silver Eagles As Low As $2.69 Over Spot
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2013 Silver Eagle

After clearing $29 in early COMEX trading, silver has been hammered back to $28.59:

silver

 

After trading nearly to $1590, gold has been sent back to unchanged on the day to $1574:

gold

At this point, a trip down to test long term support at $26 in silver and $1500-$1530 in gold cannot be ruled out. Such a dip would likely shake out the last remaining weak hands, and complete the 24 month consolidation base in gold and silver.

2013 Gold Eagles As Low As $74.99 Over Spot At SDBullion.com!

2013 Gold Eagle

  1. I am losing my patience waiting for the attack.  I feel like I am waiting on the bus.  Like waiting for the Indians to attack sort of.  I can’t wait to get this raid over with so we can move along.  Or, have we already reached the bottom?  The excitement builds.  I’ll stay tuned I guess.

    • Yes, we are close to the bottom. If you draw a trend line on silver’s chart, you’ll see that silver has been has been above that line or at least was on this line. According to that trend line, silver’s price should be at 40$ per ounce by 2016 and 50$ per ounce by 2019.

    • Jim Sinclair said don’t bother believing the data in any COT reports.   “That’s the LIBOR guys.   It’s not their way.”  (honest figures)

  2. They’ve been throwing the book at it. IF they are going to push it down that far I can only wonder what kind of ammo they will have to use ( I understand without question that they could get the ammo, but in my view the attack would be more overt than it already has been).

  3. same ol obvious bullshit…
    attack at the open of the Conmex…
    then again at the close of the London Bullshit Market Association of Assholes…
    there r no markets…there is no law…so be it…
    im not selling a f’ing oz……………………..

  4. I sometimes wonder what the other investors in different countries are thinking about the United States (Wall-street Manipulators) screwing around with Gold, Silver & other precious metals. Last night! Before I went to sleep Silver was up $.34 cents and when I logged on this morning its being taken down..How can you not see (CTFC) blatant manipulation on the part of Wall-street gangsters? Like I stated yesterday. I will continue to pick and choose when and how I purchase Silver & Gold. Once Silver goes over $35.00 an ounce, I will feel a lot better. 

    Max Keiser stated that the United States will go through a financial collapse in April. Jim S. state we should see positive movement by March 28th. So we shall see. 

    • There are a lot of predictions and the majority of them are wrong. I’ve heard another prediction back in 2011 that the USA will collapse by 2014-2015. We just have to wait and see when it will happen…

  5. It’s so blatantly obvious that the manipulation in the PM’s is not being investigated and prosecuted is because the perpetrator is the govt itself (by-way-of the Federal Reserve, JPM, GS)!!!!!

    • Yup! The govt itself (by-way-of the Federal Reserve, JPM, GS, etc) controlled by the global elites who are the one percent of the population (the Rothschild, the Rockefeller, etc).

  6. the manipulation is so predictable these days its sickening.  I was up all night last night watching silver hover just under 29.  I told my wife that the asian markets were pushing silver up but in the morning when the US markets open, they will smack it back down.  Sure enough, the morning take down commenced….. just as I expected.  How could the regulators turn a blind eye to this when anyone with a junior high education can understand what is happening.

  7. Remember the following when looking at daily price charts for Silver and Gold:
     
    * On a spot basis, the trading of paper Silver and paper Gold in the futures market determines the current ‘spot’ price (that is used by everyone in the world for pricing precious metals).
     
    * When there is paper metal buying, the spot prices go up.  When there is paper metal selling, the spot prices go down.  At any given moment in time, the buying or selling of retail physical metals has no immediate effect on the spot price whatsoever.
     
    * On a long-term basis, the law of supply and demand, coupled with the printing of fiat currencies, still affects the prices of Gold and Silver, as evidenced by the fact that Silver used to be as low as $0.25/oz, now it’s around $30.00/oz.
     
    * The daily charts say nothing about whether there is strong or weak physical demand for the precious metals.  Only the long-term price trend does.  The manipulation can be sustained only as long as there is enough physical metal to keep the Ponzi Scheme going.  Even at a ratio of 1,000:1 paper vs physical, 1,000 X 0 = 0.  Therefore, taking physical metal away from the market is the most effective way at fighting against the price manipulations.

    • The reason silver went from 0.25$ per ounce to 30.00$ per ounce is mainly due to the fiat currencies losing their values. Even if silver goes back to, lets say 10$ per ounce right now, the premium on it will be very high. That’s one of the reason why eBay is a good source to see the real value of precious metals.

  8. Brother john notes that today there has been jack shit for volume since the super slam dump to start the day.
     
    I’m glad to see it retrace some gains. As I say that I see a possible dip in progress. If I were a conspiracy theorist I would say that they are driving people into the stock market, then will let the bottom drop out then offer their services as the government to manage retirement accounts to protect the good citizens from themselves.

  9. I THINK I READ SOMEWHERE TODAY THAT SILVER IS SET TO EXPLODE ANYDAY NOW….LOL…ITS GWTTING SO OLD…I THINK THAT WERE IN FOR A VERY LONG CORRECTION EVEN LOWER FROM HERE. THEY MIGHT EVEN KEEP THEM LOWER FOR THE ENTIRE YEAR…ITS SOMETHING TO BE PREPARED FOR. I THINK ITS GOING TO BE A VERY LONG AND BORING YEAR FOR THE METALS

    • I’ve been hearing about these kind of predictions for a year ever since I first started to stack some precious metals. The financial “experts” keep pointing out the obvious thing. Also, I just recently found out that they keep telling newer predictions so that everyone could forget the older predictions that have failed.

  10. Sad thing is, as I’ve said before, there is no need for the shit to hit the fan for the metals to go up.. but… given that the psychos in power won’t stop manipulating them until they have to, it WILL take the shit hitting the fan for them to get released IMO.

  11. You all will be just fine as soon as the banksters drive the price down a little more, and do whatever it is that they feel they need to do.  This is all about the banksters.  They have made a ton of money and they don’t intend to lose any money on any old short positions they have laying around.  Then when they are ready they will play this on the long side and they will make a ton of money then as well.  Any satisfaction we get out of this market will be the little bones they throw our way.  We must be patient.  Damn it I wish I could practice what I preach.

    • Exactly! It’s all about supply and demand and inflation. I think more and more people everyday are losing faint over the fiat currencies so they will look for alternative safe havens such as precious metals.

  12. I’m getting tired of all these take downs that I have not been on the forum that much because I hate looking at that dammed Kitco Chart on the homepage in the top right. Hell take it down Doc it’s a big distraction and all I want to do is refresh the dammed page to see what’s happening. Lol

    • None of us would do that, Mary.  Unlike some out there, WE have a conscience.  I felt the very same way when a friend of my wife had some silver dollars she wanted to sell so she could get her car repaired.  She had 24 of them and I offered her $24 each for them.  That was a little above spot at the time but not much.  It was better than she could do at a coin or pawn shop.  21 of them were Morgans and 3 were Peace dollars.  She needed money to have her car repaired and I felt no need whatever to try to take advantage of her.  She is a dear friend and those are worth WAY more than any amount of money.
       

  13. Hurray! That means we will have more opportunities to buy precious metals cheaply, faster and easily by using less fiat currencies to buy more physical real money. Well now, the prices of precious metals went up a little bit higher.

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