Silver Prices Falling In The Asian Market

[Marchas45]

Silver is falling fast, only open just over 1/2 HR the spot is down 5 points and changing by the minute. and I just bought $1500 today

[iowaguy]

Yea just seen big drop!

[MauserMan]

Yeah, the 11 months I've followed silver, I've never seen a drop like that. I'm wondering what the heck happened because frankly I'm perplexed. I'm kinda thinking manipulation, but we'll find out whats going on in a little while. Kitco's forums crashed because all the people trying to log on.

[Marchas45]

I believe it's manipulation this is the second time it's happened in a week in the Asian market so we'll see what happens. I was gonna buy some more but holding for now.

[jeff of pa]

I say it will Definately go back up Monday,
Unless New york falls for the Manipulation attempt too.

$50.00 Will still be a Very hard Number to climb over
Though. each time it gets Close, the Desperate & Scared
Cash out.

& of course this drop Has some thinking they
should Cash out & Run

[Seajay]

It happens. This will bottom out, recover, and move back up. I think $50.00 is a psychological barrier; it just needs to be broken.

[brendan1414]

Perhaps the whole Osama Bin Laden thing?

[Seajay]

Yes, I think the Osama Bin Laden thing has caused a lot of exuberance; knee-jerk reaction. Oil took a $3.00 drop as well. Those in it for the profit should take the profits while the price is going up. Those in it for the long haul because of what is happening with our government, the dollar, economy, etc. will wait for the rebound.

[Vodka1000]

It will be hard and it will take time for silver to go up 8 bucks
It lost that much in 3-4 days
Tomorrow will be another sell off ?
Another 3 bucks down ?
And again - for how long ?
It could go down to 30 bucks in a matter of week or less,
3-4 bucks a day - I don't get it
If this continue it will be time to get on the buying wagon.
I think the most important think is to know when to get out and sell it
I missed the boat.

[dogpound]

i think i have a better chance of seeing 2 dollar a gallon gas then silver dropping down below 30 or even 35 bucks an oz. i hope it does take a dip cause i'd like to add to my collection before it takes off again

[Roadquest]

$37.00 to $35.00 coming soon.

[ivan salis]

I see it dipped below $40 to trigger all those locked in $40 "stop loss" sell orders-- so once it dipped big timers bought in --now its being allowed to move upward -- once it gets back into over $40 range where the big timer will make money they will sell it for a profiet --milking the market . --as they do it will dip again, causing another "sell" off as they trip "stop loss" triggers --- they will do this over and over --making a butt load of cash via "pump the price up / then selling on the upswing and then dumping silver causing it to drop in value and buying on the (stop loss / panic selling) low point " --the big players are causing "the roller coaster effect" and by timing the market and buying at selling at the right times are making butt loads of money by doing so .

this is simple good old fashioned classic "market manipulation"--big money folks taking advantage of small time weak players (scared money types) -- people who want to "make money" in the market but are afraid of taking a loss.

[FreedomUIC]

While I am not a "Scared" purveyor of silver bullion, I did sell all my 90% above $45.00 this week. I converted the money into
Fractional Gold (.25's) and (.50's) and managed to pay off a bill or two along the way. I am keeping all one oz rounds. Went into buy some from my favortie coin shop and he had pulled all the bullion. Said he would wait until it went back up before
he puts it back out for sale.... Can't blame him I guess but I always thought if you were a customer dropping
$500 - $1000 a week in his store, he would at least break some out. At any rate I got to pick up some Maple leafs for $41.25
a piece. Noticed as I drove by today he was closed....

He is waiting for the market to stabilze, small dealer in town and always cuts me a break on "Bulk" orders, just kinda surprised me that he pulled all bullion. There are plenty of Eagles at $3.00 over melt I wanted to get, but he was closed..........Drats the luck.

[Marchas45]

I'm for one am buying, It may go down another couple of dollars but I believe it' heading back up soon.

[trdhrdr007]

On April 4th silver was approximately $39, by April 28th it was around $49. That's a 26% increase in 24 days. As I type this silver is below $40 for a 17% loss over 6 days. I've got a question for all you silver experts. Why is a 26% rise in 24 days considered normal & sustainable while a 17% drop in 6 days is considered market manipulation?

[Silver Surfer]

I am no expert, but I would say that PM's SHOULD be tied to the dollar... Have you seen a big jump in the value of the dollar in the last week??
That is really the only time PM's should drastically drop and be "legit"... Of course, silver hitting nearly $50/oz probably set off a big sell, but not enough (imho) to cause this big of a drop this fast... I believe it is the big banks and the Fed that are doing the manipulating... They HATE, I repeat HATE it when people invest in PM's... They want us to continue to trust them, the dollar, and the stock market..

[Vodka1000]

On April 4th silver was approximately $39, by April 28th it was around $49. That's a 26% increase in 24 days. As I type this silver is below $40 for a 17% loss over 6 days. I've got a question for all you silver experts. Why is a 26% rise in 24 days considered normal & sustainable while a 17% drop in 6 days is considered market manipulation?

We killed the f******g osama - now we all good - dollar is going up PM going down <<<<
We don't have to worry about nothing - yup right

[trdhrdr007]

I am no expert, but I would say that PM's SHOULD be tied to the dollar... Have you seen a big jump in the value of the dollar in the last week??
That is really the only time PM's should drastically drop and be "legit"... Of course, silver hitting nearly $50/oz probably set off a big sell, but not enough (imho) to cause this big of a drop this fast... I believe it is the big banks and the Fed that are doing the manipulating... They HATE, I repeat HATE it when people invest in PM's... They want us to continue to trust them, the dollar, and the stock market..

The problem with that line of reasoning is that there wasn't a 26% drop in the dollars value in early April when the price of silver rose 26%. I have no idea what the price of silver will be at any time in the future. I have a position in silver & would rather see prices increase. I'm also a realist & know that a decrease is possible.

I do know that lots of people say the roughly 140% rise in silver prices over the last 16 months is due to a combination of an increase in industrial demand & the decline of the dollar. While those 2 factors are part of the reason for the increase they aren't the primary reason. IMO the primary reason is the investor driven increase in the demand for silver by the various silver ETF's. Silver ETF's have been buying up all the silver that was produced over & above industrial demand.....that silver hasn't gone anywhere. If investor demand dries up that stockpile of silver will be released onto the market causing price drops.

[Marchas45]

Well I for one am still buying. I just bought some silver this morning from a guy in the diner for $100.00 which I would have bought for $300.00 a couple of days ago. People are letting it go now for whatever they can get. Let the good times roll.

[Mackaydon]

$37.42 right now; where's the bottom?