Eiji

Damn.. why didnt I go in 100%

Ohh well somethings better than nothing..

Hindsight is a b**ch!

Don't kick yourself for not knowing the future

The JPMorgue will be doing their best to use this catastrophe to scare the sheeple out of silver.

 

This will be the last major buying opportunity sub-$50 IMHO.

I agree...unless there is another major natural disaster this year.

Silver looks to be consolidating before making a run for $40?

$36.01/t.oz

I was hoping to buy more at the $30-ish range but it looks like it may never come back!

Any guesses as to what silver price per ounce may be by mid 2013?

Could certainly use lower gold and silver prices here. It's all getting so darn expensive!

Yes, madness, hope it doesn't go parabolic just yet. I purchased loads last year and then in Jan 2011 but now I got some more fiat to pump into silver but not at these prices

Jeez, I wouldn't mind a pullback into the $26-28 range so I can back up the truck some more :/

I'm hoping for $25-$28 again so I can buy more

$950 coming!

 

Finally!

Perhaps if $1 is worth £1.70

Smack!

I wonder when this run up will consolidate! $30? $40? $50?

I think I'll be waiting a while for any kind of pull back if any to accumulate some more.

Perhaps this is THE correction UPWARDS now that price manipulation isn't rife!

35:1 then 16:1?

What do you think of PSLV?

Sprott Adds 6.5 Million Ounces of Silver to Its Trust at Approximately 25.82 Per Ounce

It is my understanding that Sprott 'books' the silver when it makes the deal to acquire it, but the actual silver will not be obtained and delivered to their vaults for some weeks as the market gathers the bullion together and ships it to them.

 

This was a big purchase and it will be interesting to see if we can spot where it is coming from as inventories draw down. I watch the reports from the Comex each day for example, and how the various levels of supply fluctuate. Then again, in this paper driven world of fractional reserve inventories at the LBMA and the unallocated accounts of certain holdings it may not show up at all, at least for now. The paper game is pervasive.

 

Our estimate based on the available data is that they purchased 6.5 million ounces of silver at an average price of 25.82 US dollars per ounce. This is a 1.2% premium over today's spot price of 25.51, and a much larger premium over yesterday's paper prices that went as low as 24.10 intraday.

 

It is interesting that even on very large purchases it appears there is a premium to be paid to acquire actual unemcumbered bullion versus fractional reserve paper claims. Handling charges? lol.

 

Some might consider the price that Sprott paid to be a 'leading indicator' of where silver will be going. I think when the paper Ponzi scheme actually collapses silver will be much higher than that. After all, "he who sells what isn't his'n must buy it back or go to prison." Unless, that is, they are running the game. Then they just pay a fine and admit no guilt...

You missed your chance at 15:00 yesterday. Sorry.

A flash correction

Dips are getting smaller and smaller.

So, do you think the new bottom is $25?

Gold's fallen off a cliff.... Is this a hint that there's no more QE or just a routine smackdown?

 

EDIT: It looks like a smackdown to me....

Do you still stick by your prediction of sterling gold rising to about £2000 t.oz in 12-18 months?

According to The Market Oracle's Nadeem Walayat, USD index is projected to fall to around 70 by mid 2011 and GBP is set to rise to around as high as £/$1.80 / £/$1.90 in that same period.

I guess that would be a massive buy opportunity for STERLING GOLD buyers.

Which is why base rates won't rise. It's a possible scenario which must not happen at ANY cost.

I just checked Kitco, the interesting thing is I was not worried at all, I was hoping I might get a bargain.

Yeah, no need to panic if you are long gold. I've got a close eye on this correction and looking to buy more soon if its viable.

Well with a rumoured £100bn QE2, who knows what will happen to GBP in relation to gold. GBP rallied with QE1.

Do the gurus forsee a stronger £ or weaker?

Goldman tells clients to buy paper gold.

Alarm bells are ringing everywhere as Goldman (which joins UniCredit in boosting its gold price target) may have just picked the short-term top in gold, after it revised its 12 month target from $1,365 to $1,650. And while David Greely's track record is nowhere near as atrocious as that of Goldman's FX team which manages to top tick the EURUSD every single time, the fact that Goldman is now opening Long Gold recommendations (to go with its current trading recommendations of long Corn, Copper, Platinum and WTI) is reason for big worry. Recall which bank was getting its clients to go all in in crude 2008 when oil was $140+. We would be very cautious when Goldman is on "your" side of the trade. Nonetheless, the firm is pretty much spot on "We believe that a return to quantitative easing will act as a strong catalyst to carry gold prices to even higher levels."

Source: http://www.zerohedge.com/article/goldman-t...-1650-silver-27

I wonder if anything will come of the CFTC investigation (LOL yeah...) into the massive silver shorts by JPMorgan.

If there is one thing I ponder about gold it's that what if central banks decided to offload vast amounts of gold sometime in the future. Wouldn't that crash the gold price? Is there any reason why they wouldn't do this?

Your views would be appreciated.