Why such a drop in silver prices?

[Gilmore Happy]

Hello All,
Any comments as to why we are seeing a dive in silver prices? I hope our finds pick up. Mine have been very slim as of late as compared to last year. When I checked coinflation.com a few minutes ago, silver had dropped to $36.35. Jim--what is your take? Greece?


apush

BTW, Im calling ALL the way down to $29.84 before price stablizes.
Write it down.

One more day and Happy nails the spot price? How does he do it?

You must have had a dream....

For those you tracking my $29.84 prediction, it did in fact hit the $29-$30 today. Not many people would have called silver down from $40 to $29.84 in 2 days. 2nd prediction: the onslaught is done for now.

Hope you got to buy some...recovery next week back into the $30's and then scared money for months, not breaking $40 until 2012.

Prediction graciously brought to you by Gilmore Happy. How does he do that?

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[DeadheadDigger]

Hello All,
Any comments as to why we are seeing a dive in silver prices? I hope our finds pick up. Mine have been very slim as of late as compared to last year. When I checked coinflation.com a few minutes ago, silver had dropped to $36.35. Jim--what is your take? Greece?


apush

BTW, Im calling ALL the way down to $29.84 before price stablizes.
Write it down.

One more day and Happy nails the spot price? How does he do it?

You must have had a dream....

For those you tracking my $29.84 prediction, it did in fact hit the $29-$30 today. Not many people would have called silver down from $40 to $29.84 in 2 days. 2nd prediction: the onslaught is done for now.

Hope you got to buy some...recovery next week back into the $30's and then scared money for months, not breaking $40 until 2012.

Prediction graciously brought to you by Gilmore Happy. How does he do that?

I read your silver call while riding a train from dc to NYC. Made a mental note.
Speechless when I was the close.

[Argentium]

Greetings Apush , I cant add anything factually to what Jim and others have already said ,
- except to say, don't allow yourself to be distracted too much by this volatility . If you are
pulling some silver at cost, you are doing very well indeed ! additionally , I would look at
silver -under $30. an ounce , as a buying opportunity- same idea with gold under $1600.
If I may get philosophical for a moment , What is wealth really ? perhaps excellent health,
and the simple pleasures we find in our day - whether they be found metal detecting , CRH-ing,
reading , playing guitar (ok - "these are a few of my favorite things") or whatever . Cheers !
Argentium.

[WDW]

What you need to understand about silver, is there is far less above ground silver, than there is above ground gold. Eventually, the yearly demand for silver will reach more than we can mine out of the ground annually, this is when you will see silver skyrocket. That demand will exhaust all of the above ground silver, the people who sell silver bullion will be cleaned out for use in industrial applications. The price will only go up in the next couple decades.

Gold however, is plentiful above ground, and has no industrial applications. Unless it is used to determine the value of currency, or is used to back up the USD again, it will drop steeply eventually. It's a huge bubble, because gold is not needed for anything. It's just valuable because that's how it's always been, since ancient Egypt.

Silver derives it's value from it's use in industry. It would still be at $3 an oz if it was like gold, and only an investment metal. Save your silver, we'll exhaust our above ground supply of silver eventually, and it will be up at $300 an oz no problem. Probably more.

In reply to this, I am new here, and curious about the statement that gold has no demand in usage? I refer to this site which seems to indicate differently. What do you think?
Gold in the device: technical and medical applications > English > Gold facts. All about gold: facts about the metal and its impact worldwide.

I own no gold to speak of, but have invested in some silver recently to prepare for the weakness of the dollar, and it's possible collapse, as in Greece's economy. Thanks for tolerating this new-be's inquiry, and good hunting for valuables!

[H-2 CHARLIE]

16% of US Annual Silver Supply Just Vaporized... | SilverDoctors.com

[apush]

Now, that is an old thread! Guess I could ask the same question again!
apush