Silver is down almost 20% just today! $30.53 as I write this. I gotta say that silver is looking good at this price to buy, but that knife is falling fast and not sure I want to catch it right now.
It's Sunday night and Silver is at $29.50 right now. Its extremely tempting to pick up another 200-300 oz right now.
You never know, it looks there is some more downside to go. Mutual funds, 401k's, and other investment houses will probably be booking any gains they can to show profits for 2011. The after waves will only result in a couple of percent age point gains. The world is different today then the time when the Hunt Brothers manipulated the market. The average citizen of any sovereign nation can have quick electronic access to the physical product. People across the planet are still in unsure mode. The current situation in the EU could point to aleast price stabilty by the end of 4Q 2011. If the EU situation does not improve then Au and Sl both get a bump up. Fiat currencies are nothing more than a confidence game. Welcome to Neo Fuedalism, Akuma Diamonds and Gemstones seem to be picking up.
Silver now quoted at 26.370/26.400 as I write this. Insane. Oh, oops. 26.185/26.200 in the time it took to write the last sentence.
Looks like it might be a half off sale to me. Stock up. Know your contracts. "If you don't hold it, you don't own it."