Silver getting slammed in the foreign markets tonight

jim4silver · May 19, 2013

Silver is down over 1.26 right now at the open. I am sure that is just good ole' natural supply and demand in action. Gold not down as much percentage wise.

I wonder what is going on tonight (other than what is always going on in the PM markets)?

Jim

DeepseekerADS · May 19, 2013

I was super heavy into silver and gold in 1980.....

Lost my butt shall we say.

But seeing now, I think it is a GREAT thing it's falling.

And know ye it shall return.

But be patient, and be smart. Examine what is important to you, and realize the value of paper money in the future - and of course the value of food!

TreasurePirate69 · May 20, 2013

Looks like the US markets helped it recover. I read somewhere that COMEX had to halt trading 4 times due to the massive drop in the Asian markets. Who knows how low it could have gone if they hadn't intervened.

jim4silver · May 20, 2013

TreasurePirate69 said:
Looks like the US markets helped it recover. I read somewhere that COMEX had to halt trading 4 times due to the massive drop in the Asian markets. Who knows how low it could have gone if they hadn't intervened.

Actually the Comex was not open when the drop happened. CME who controls the Comex also controls the Nymex. But the market open when the crash happened is called the Globex. I don't know exactly the diff between the Comex and Globex but they are two different animals.

Jim

TreasurePirate69 · May 20, 2013

jim4silver said:
Actually the Comex was not open when the drop happened. CME who controls the Comex also controls the Nymex. But the market open when the crash happened is called the Globex. I don't know exactly the diff between the Comex and Globex but they are two different animals.

Jim

I see. The article I read definitely said the COMEX stopped trading so they must have meant the Globex. Looks like silver and gold have made back the losses and then some.

Marchas45 · May 20, 2013

Just a little hiccup in the climb back up. Yep it was the CME that stopped for 20 seconds each time. One guy said that it was basically designed to prevent stop loss order after stop loss order being triggered. Keep Stacking