PMs tanking

Some Guy

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Sep 23, 2011, 6:29:09 PM9/23/11

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Gold & silver WAY down.
I consider the following factors to be the main reason:
increased margin requirements for futures contracts
European banks needs cash and plenty of it to prop up the Euro in the face of
the upcoming Greek default.
Looks like a good time to buy.

oly

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Sep 23, 2011, 8:05:35 PM9/23/11

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Picked up two of the five ounces today, cheapest that these have yet
been available. BTFD!!!

Now, Silver will probably go back to $7.00

One explaination that I've heard is that the recent whipsaw(s) in the
Swiss currency adversely affects the same people who are typically
long PMs. Gotta sell some of their winners to offset their vast
losses in the Swiss franc.

oly

Bremick

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Sep 23, 2011, 11:57:30 PM9/23/11

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"oly" <oly...@aol.com> wrote in message
news:f7e2cb60-5023-4b00...@l7g2000vbz.googlegroups.com...

____________

Patience. For long term investors, silver will rebound. For speculators,
it's time to have a ball for a while trying to anticipate this market. I'll
admit it's hard to keep from peeking at gold and silver each day even though
I'm not expecting to unload or buy more at the moment.

oly

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Sep 24, 2011, 3:49:17 AM9/24/11

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On Sep 23, 10:57 pm, "Bremick" <rem...@cox.net> wrote:
> "oly" <oly2...@aol.com> wrote in message

Oh, I have the true religion, Mr. Remick. A hard down in the economy
will be followed by money printing, just like the sun coming up in the
A.M. oly

Bremick

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Sep 24, 2011, 8:54:31 AM9/24/11

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"oly" <oly...@aol.com> wrote in message

news:ee854f05-9c40-40cb...@c1g2000yql.googlegroups.com...

___________

I'm still confused about the reasons for the recent precipitous fall of gold
and silver, while fears about the world economy has Wall St tanking too.
Usually they seem to go in opposite directions. Explanations this time have
been after-the-fact possibilities, with nobody I read having predicted this
joint swoon. But I still believe that if patience is an option, it's
fascinating to watch.

oly

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Sep 24, 2011, 11:57:38 AM9/24/11

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> fascinating to watch.- Hide quoted text -
>
> - Show quoted text -

I'm probably not going to call the decline in Gold "precipitous" as
yet, but do have to allow that Silver's 13% decline yesterday does
qualify. Silver is presently only a few cents higher than it was on
12/31/2010.

It has to do with the need for some very big boys to raise cash,
pronto. Until the Swiss did that unexpected "peg" to the Euro, most
of the bigs boys were still very comfortable in nearly all their very
big bets. No more, it seems.

oly

oly

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Sep 24, 2011, 12:10:02 PM9/24/11

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> oly- Hide quoted text -

>
> - Show quoted text -

Scothc-taped on my desktop:

12/31/2010 year-ending quotes:

Au $1,421.60; Ag $30.91; Pt 1,769.00
DJIA 11,577.50; NASDAQ 2,652.87; S&P 1,257.64
USD Index 79.04; Oil 91.40
GBP/USD 1.5609; Euro/USD 1.3384
Yen/USD 81.165

La plus la change....

oly

oly

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Sep 24, 2011, 12:17:34 PM9/24/11

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I suppose the order that I wrote the Pound and Euro quotes out to be
opposite... oly

Rick

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Sep 24, 2011, 1:46:51 PM9/24/11

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(Kitco News) - CME Group Raises Comex Gold Margins By 21.5%, Silver Margins
By 15.6%

And IMHO...this is now just outright market manipulation to hammer down PMs!

Link from Kitco with more info:

http://www.kitco.com/reports/KitcoNews20110923DeC_CME.html