Silver price fall?

[rebnah]

Hello

Does anyone know or have any ideas why the price of silver is pulling back?

Currently at 14.73

[Scuzzle]

Smashed by the cartel.

[Mariner1961]

Damned if I know. If you look on you tube it's all about manipulation but PM's have certainly taken a dive today. Having said that as long as the 200 day MA is still going up i don't think it's a worry. Just gives longer to stack at lower prices lol

[Scuzzle]

No doubt be an inteview on Youtube this weekend by GATA siting paper contract manipulation and record high open interest.

[nr73]

Been keeping an eye on it, it's nothing to do with market manipulation. It's everything to do with me having bought 20 oz in the last week. Typical eh!

 

[Scuzzle]

I just bought 55 oz with spot @ £15.30 an ounce 3 days ago.

[Mariner1961]

1 minute ago, Scuzzle said:

I just bought 55 oz with spot @ £15.30 an ounce 3 days ago.

Nice! Where from?

[NumisNewbie]

Sure is ugly... down 73 cents since 2am yesterday. By all means BTFD as they say on Zerohedge but it doesn't look like the dip's ending anytime soon.

Great time to stack though

[nr73]

I'm taking a break due to 2 weeks holiday so will see what happens during that timeframe. All being well it will have levelled out and I can carry on stacking. No point buying much while it's still going downward though. My plan is to retain 75% or more of whatever I buy for the long haul, which really can only head one way. I'm not bothered if I hold on to my stack for 20 years or more, that gives me plenty of time to choose the right point to sell.

[Scuzzle]

30 minutes ago, Mariner1961 said:

Nice! Where from?

Goldsilver.BE

2x 10oz Lunar Monkeys

3x 10oz 2016 Kooks

1x 5oz Libertad

Not much change out of £1000

[Mariner1961]

1 minute ago, Scuzzle said:

Goldsilver.BE

2x 10oz Lunar Monkeys

3x 10oz 2016 Kooks

1x 5oz Libertad

Not much change out of £1000

Nice!

[rebnah]

2 minutes ago, Scuzzle said:

Goldsilver.BE

2x 10oz Lunar Monkeys

3x 10oz 2016 Kooks

1x 5oz Libertad

Not much change out of £1000

Cool

if it keeps going down I'm going to through a few grand at European mint as I always found them the cheapest on bits I wanted. Fantastic hassle free service too.

[Scuzzle]

Just now, Mariner1961 said:

Nice!

Would have been nicer if I'd left it until today, could have saved a few quid,   I fell for the Youtube interviews and the "They can't keep this up and gold and silver will be going up soon" so I decided to just buy some there and then.

[Roy]

Those pesky Youtubers!

They're scallywags throw and throw 

[SilverStan]

I waited till i could get coins from Goldsilver.be for under 20 euro a piece.

It was a long wait and been searching for a silver like a pig for truffles.

Cheeky order gone in..

[Murph]

It's gone back up a little.  Doesn't make me feel so bad for buying a fair bit of sterling at 47p per gram of actual silver weight delivered.  I prefer to pay a bit less and have a feeling it will probably drop a bit again knowing my luck.

[Mariner1961]

2 hours ago, Scuzzle said:

Would have been nicer if I'd left it until today, could have saved a few quid,   I fell for the Youtube interviews and the "They can't keep this up and gold and silver will be going up soon" so I decided to just buy some there and then.

Yep, realty is nobody knows what's going to happen although the up and up and up sounds good lol. My view is the longer it takes to go up the more I can put away.

[onlyroadtoheaven]

I buy monthly so not too concerned about spikes up or down. My long term view is that so much money has been "created" that I need to protect my wealth if the system goes a bit screwy. Look at Venezuela for instance. If I don't buy silver then I would just buy other crap that doesn't retain value so its win win for me. August is traditionally a bad month for PMs so I am sure the next leg up will commence shortly.

[Mariner1961]

Yup. If the BofE keeps dropping interest rates to "help out" we might be in the same boat as Japan soon. Just had letter to say my already meager interest rate on savings is getting cut again!

[BackyardBullion]

Best value coin i can see on goldsilver.be is 2 oz 2016 turtle, but they only got one in stock!

They have plenty of 2015 turtles, 10 of them including shipping = £353

£17.65 per oz

On Tuesday they were £18.20 per oz

[Scuzzle]

This looks like a standard weekend smackdown, march it back up at the start of the week and smack it back down for next weekend.

[bongobill]

Not a big deal in the long term, if anything I'd welcome a decent drop for a while tbh, at least have it driven down before the next brexit style event..most likely US election tbh.

[KDave]

I have no idea what is going on with the silver markets, but my thoughts are as follows - take with a massive pinch of salt;

Long term its all good baby.

Short term - if you believe in the old gods and in reading of the runes/charts then $19 is the one to watch, if it falls below $19 silver is in some short term trouble. Once $19 breaks people seem to think that is the signal to get out of long positions, for the short term trading folks. Good times for those looking to buy will follow so keep your fingers and toes crossed. Or maybe it wont. Who knows.  

[HighlandTiger]

12 hours ago, Scuzzle said:

This looks like a standard weekend smackdown, march it back up at the start of the week and smack it back down for next weekend.

Actually it's the standard mid month smackdown. I've noticed for quite a while that around the 12th to the 21st of each month, (depending where the mid month weekend falls), that PM's always seem to drop in price.

[sovereignsteve]

17 minutes ago, HighlandTiger said:

Actually it's the standard mid month smackdown. I've noticed for quite a while that around the 12th to the 21st of each month, (depending where the mid month weekend falls), that PM's always seem to drop in price.

Are you trading it?