Afternoon everyone….
Well metals took a complete beating yesterday. That was a very strategic move by the big boys continuing to manipulate the silver market. In the last 4 trading days, the CME has increased the amount of capital investment firms must put up to keep their positions in silver.
These investment firms only get one hour to transfer the funds to the CME to keep their position. If it is not met their position automatically gets liquidated by the system which means a complete sell off of what they hold. This is what caused the massive sell off yesterday. Even with the massive drop in both metals, you can’t buy anything even close to spot price. The best price that I saw looking quickly was $98 for an ASE. That’s a $13 premium.
Hold steady the Shanghai silver price is still $123 an ounce. So this drop can’t last.
These bars are really quite cool. They have a brushed finish on them making them look unique. Most bars are really shiny and are typically pressed and boring. Not these bars, they even come with a serial number and are numbered. They are from Italy.
Here it is….
What do you think?
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Where do you get your Shanghai silver quotes?
There’s also Dubai and India as well which are pretty close to the Shanghai prices. Maybe a dollar off. Ours is the only one that’s not even in the ballpark.
I've gone there too, doesn't seem to be a live quote, but I could be wrong.
Their market is closed. There’s another one but it puts the prices in tonnes. You’d have to convert it, and that’s live when the market is open.
I kinda wish it would go all the way down giving me the chance to buy a whole bunch more. My fault for selling at $32
I kinda think the drop is just to shake out the "weak hands" I expect a pop on open tomorrow, but I am often wrong.
Sweet bar
No they wanted a massive sell off. If you look at the Hunt Brothers in 1980 and in 2011 the same move as yesterday was done. Same exact move…..
But this time silver is way more important and that slam is temporary.
Definitely bullshit....... I didn't know they raised margins, I assumed it was all because of Trump talking about Kevin Warsh being nominated for the fed.....
Interesting that they put circuit breakers on the stock market, but let the metal markets crash as far as they want as well!
It’s controlled by the three big banks who have the CME in their pockets. They make the paper silver contracts. There’s no regulations with paper metals.
Such crooks........ I'm sure JP Morgan is first on the list!🤔
HSBC is actually the largest but JP Morgan and Scotiabank aren’t far behind
Sad that they have a stranglehold on the price....... Nothing new.....🙄
Look at the data from Friday, this is just bogus take, & if so that means they manipulated it up from $20 to $80 in a year, it goes both ways. Truth is the evidence is lacking and this is tin foil hat stuff. All markets have some manipulation of course, but the way people in our metals community pretend every time there’s a correction it’s all fraud, it’s just old and stale nonsense. When it’s up it’s never fraud just price discovery they say, it’s old.
Sad to hear so many people bought at the top..... we know one person that was going to a different state to avoid sales tax at the top...🙄
That's a cool looking finish
It is. I have a few bars with that brushed looking finish. I like them a lot.
This plunge cannot be natural, this is too well orchestrated and designed to bail out unnamed bullion bank(s) out of their short positions at the expense of the market yet the Regulators will once again turn a blind eye to a crime disguised as a statistically improbable event. So making some lemonade out of lemons, I added some more miners stock and metals ETF units to my portfolio positions.
Mama mia!
!PIMP
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