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View Full Version : Silver at $47.74? Did it just jump over a dollar in a minute?



VX1
22nd April 2011, 06:00 AM
New York markets closed today, but I see this as Asia starts winding down:

Large Sarge
22nd April 2011, 06:04 AM
got a link?

Large Sarge
22nd April 2011, 06:09 AM
found it, and yes appears you are right

http://fastmarkets.com/scoop/?id=30541&v=0&lang=en&cid=136549&type=1

VX1
22nd April 2011, 06:16 AM
I was just watching my silver dashboard... the Kitco links aren't being updated, but the links above are from The Bullion Desk (http://www.thebulliondesk.com/):

http://www.thebulliondesk.com/freecharts/freeprice.aspx?id=a5071abe-3ae3-4ea4-848a-1d873378efc8

JJ.G0ldD0t
22nd April 2011, 06:23 AM
I believe that next week is gonna be one hell of a ride.

PatColo
22nd April 2011, 06:27 AM
quotes have been squirelly the past 12 hours or so, kitco's intraday graphs full of flatlines when the metals were trading, same w/netdania. I'm abroad and frankly forgot about the Good Friday holiday.

Notice even the gold vs silver kitco graphs below, times where gold showed trading but silver was flatlined,

http://www.kitco.com/images/live/gold.gif

http://www.kitco.com/images/live/silver.gif

I'm stumped. I see those bulliondesk numbers are still changing, with the GMT time stamps updating as well.

Holiday trading is always tricky with globally traded commods, getting quotes from my usual sources, that is.

Be nice if you're right, IE silver is trading 47.xx now, somewhere (!?!)

BrewTech
22nd April 2011, 06:34 AM
I guess it depends on whose chart you are looking at... goldprice.org says 47.62

Kitco appears to be stalled. WTF?

I got a baaaad feeling about this...

http://30.media.tumblr.com/tumblr_kxc7xbl2HY1qb2toco1_500.jpg

solid
22nd April 2011, 06:36 AM
I got a baaaad feeling about this...


Me too...this just screams manipulation. Possible smack down coming?

BTW, VX1, your avatar has me laughing every time I see it. Funny, great stuff, indeed. :)

PatColo
22nd April 2011, 06:44 AM
I noticed kitco has sparked to life past few mins, look at my graphs 2 posts up, reload the page if nec, still saying 46.xx though. also see http://www.kitco.com/market/ - "World Spot Price" table of course.


eta: here's bulliondesk/fastmarket's price graph,
http://www.thebulliondesk.com/freecharts/freechart.aspx?id=4f240421-00fd-4d79-9ba8-fa16927421f0

here's goldprice.org: if graph doesn't appear, check it at top of http://goldprice.org/silver-price.html
http://silverprice.org/charts/silver_1d_o_USD.png

VX1
22nd April 2011, 06:45 AM
I found this yesterday, when looking for the market holiday hours:


Silver price risk: options expiry & thinly traded holiday markets (http://www.bullionmark.com.au/gold-research/blog/2011/04/20/183-silver-price-risk-options-expiry-a-thinly-traded-holiday-markets.html)

With so much open interest at the silver May $40 strike call options, traders should be aware of some shenanigans on the silver price in the next week to ten days.

JP Morgan, HSBC and the other heavily short investment banks have a huge incentive to flush long speculators by pushing the silver price lower.

The thinly traded Easter holiday period is the perfect scene for this criminal manipulation. Should they fail to push the price below $40 by next Tuesday New York time, the upside could be spectacular.

Whilst many in the blogosphere have written off JPM and can only see higher silver prices, I urge you not to underestimate the determination and capacity of wounded criminal banksters.

The Easter Egg

Observe if you will, the 6 days prior to expiration of Comex May Silver options.

April 21st, Holy Thursday: day before a holiday
April 22nd: Good Friday: CME Closed
April 23rd,Easter Saturday: Markets Closed
April 24th,Easter Sunday: Markets Closed
April 25th, Easter Monday: LME Closed (Largest Physical Bullion Exchange Worldwide)
April 26th, Tuesday: May Options Expiration CME

http://www.bullionmark.com.au/gold-research/blog/2011/04/20/183-silver-price-risk-options-expiry-a-thinly-traded-holiday-markets.html[/quote]

cthulu
22nd April 2011, 06:53 AM
I got a baaaad feeling about this...


Me too...this just screams manipulation. Possible smack down coming?

BTW, VX1, your avatar has me laughing every time I see it. Funny, great stuff, indeed. :)


I bet major smackdown as well, probably like the one in 2008 where it dropped almost 50%, and almost everyone was pulling their hair out.

Large Sarge
22nd April 2011, 06:58 AM
I got a baaaad feeling about this...


Me too...this just screams manipulation. Possible smack down coming?

BTW, VX1, your avatar has me laughing every time I see it. Funny, great stuff, indeed. :)


I bet major smackdown as well, probably like the one in 2008 where it dropped almost 50%, and almost everyone was pulling their hair out.


this is just not likely

there is no silver left

the dollar is in freefall

J.P. Morgan and the U.S. gov have started going long on silver

etc

unless a large meteor made of silver crashes into earth, and increases the amount of silver by 4-5 times, then nothing will stop this event....

PatColo
22nd April 2011, 07:11 AM
I noticed kitco has sparked to life past few mins, look at my graphs 2 posts up, reload the page if nec, still saying 46.xx though. also see http://www.kitco.com/market/ - "World Spot Price" table of course.


eta: here's bulliondesk/fastmarket's price graph,
http://www.thebulliondesk.com/freecharts/freechart.aspx?id=4f240421-00fd-4d79-9ba8-fa16927421f0

here's goldprice.org: if graph doesn't appear, check it at top of http://goldprice.org/silver-price.html
http://silverprice.org/charts/silver_1d_o_USD.png


I noticed at http://goldprice.org/silver-price.html - page down, there's a very netdania-like graph of gold pictured, despite that this is their "silver price" page. Under the "Instrument" menu on that graph, change it to Silver-USD, and the silver chart appears with this alleged spike to mid 47s. Change the bar-time from the default 1 hour to say, 5 mins to see greater detail.

Also I've been refreshing the page VX1 gave,
http://www.thebulliondesk.com/freecharts/freeprice.aspx?id=a5071abe-3ae3-4ea4-848a-1d873378efc8
and the price was at 47.20-some, then mins ago it was 47.40-some, and moments ago it's reporting 47.20-some again... ?? oops, now it's 47.45 x 47.50 again... ?!?!?

keehah
22nd April 2011, 07:19 AM
Kitco has a solid record of dogging the metals price when they are spiking up at times like this.

For this reason sites like this stopped using the unreliable (or worse) kitco quotes.

I was just wondering a few weeks ago why we the long term metals bear during this metals bull kitco co. box again.

PatColo
22nd April 2011, 07:25 AM
I noticed kitco has sparked to life past few mins, look at my graphs 2 posts up, reload the page if nec, still saying 46.xx though. also see http://www.kitco.com/market/ - "World Spot Price" table of course.


eta: here's bulliondesk/fastmarket's price graph,
http://www.thebulliondesk.com/freecharts/freechart.aspx?id=4f240421-00fd-4d79-9ba8-fa16927421f0

here's goldprice.org: if graph doesn't appear, check it at top of http://goldprice.org/silver-price.html
http://silverprice.org/charts/silver_1d_o_USD.png


that goldprice.org silver graph is saying 46.60 again at this writing,

http://silverprice.org/nuchart/chartimages/silver_1d_o_USD.png

afraid this may be much ado about some bad quote data - even the 47.xx sources don't agree.

uncletonoose
22nd April 2011, 07:28 AM
Big swings
http://silverprice.org/

Sparky
22nd April 2011, 08:10 AM
I got a baaaad feeling about this...


Me too...this just screams manipulation. Possible smack down coming?

BTW, VX1, your avatar has me laughing every time I see it. Funny, great stuff, indeed. :)


I bet major smackdown as well, probably like the one in 2008 where it dropped almost 50%, and almost everyone was pulling their hair out.


Of course I'm in the camp that says there will be a smackdown, but I think there are too many newcomers looking for an entry point to allow for a 50% drop. I could see a hefty 25-30% though. It will really depend on whether the big banks want to try another round of heavy shorting, or whether they've been scared straight. I could actually see them orchestrating a quick head-fake short, and then piling on long to make their money on the other side.

DMac
22nd April 2011, 08:23 AM
Good chart site for Silver:

http://www.oilbull.com/metals-charts/silver/

osoab
22nd April 2011, 08:31 AM
Soooo, Silver is on sale this weekend?

Sparky
22nd April 2011, 10:28 AM
I'm noticing the spot price charts on various sites are all over the place today. The price movement around that spike to $47.71 looks artificial, and it occurred while kitco's charting was down. It has all the looks of a spike top, and it's occurring on a day that the U.S. stock market is closed. And I don't see any stories on it. A dollar spike to a fresh 30-year high, and there's no story? Very strange.

ximmy
22nd April 2011, 10:36 AM
LOL... ;D TPTB aren't content to control most assets... In their greed they want everything

This shaking has been fully planned...

osoab
22nd April 2011, 10:38 AM
I'm noticing the spot price charts on various sites are all over the place today. The price movement around that spike to $47.71 looks artificial, and it occurred while kitco's charting was down. It has all the looks of a spike top, and it's occurring on a day that the U.S. stock market is closed. And I don't see any stories on it. A dollar spike to a fresh 30-year high, and there's no story? Very strange.


Holiday, No Holiday, Doesn't Matter: Silver Still Up By A Buck (http://www.zerohedge.com/article/holiday-no-holiday-doesnt-matter-silver-still-buck)

Sparky
22nd April 2011, 10:59 AM
Some sites currently reporting silver at $47.60. Some at $46.60. The some charts showing the spike to $47.71 show the retreat. Some don't. Apmex and Coinflation showing $46.68, but from 5 hours ago. WTF?

Serpo
22nd April 2011, 12:08 PM
Confusion reigns.....

Gaillo
22nd April 2011, 12:12 PM
Even at $47.71, Silver is STILL the bargain of the century - you KNOW it's true! ;D

Serpo
22nd April 2011, 12:45 PM
Even at $47.71, Silver is STILL the bargain of the century - you KNOW it's true! ;D




sssssshhhhhhhh

ximmy
22nd April 2011, 03:40 PM
Kitco works for the man... yeah, consider their lowball price as a gift this weekend...

Thebulliondesk & Goldshark continue to show upper $47... pricing... ;D

Serpo
22nd April 2011, 03:52 PM
Strangest day on the charts

Large Sarge
22nd April 2011, 03:55 PM
Strangest day on the charts


in the back of my mind, I wonder if this is how a default will look like in the information age

the real purpose of COMEX is price discovery

this has not been the purpose for silver and gold for awhile

so as the manipulation ends, do different prices show up around the planet, in the same currency...?

I have wondered what it would like, and I almost think today might bare a resemblance (I am not saying we are in default), but in a true default, no real price discovery will happen....

uncletonoose
22nd April 2011, 06:05 PM
Yup $47.73 ;D

http://silverprice.org/

Sparky
22nd April 2011, 09:45 PM
Yup $47.73 ;D

http://silverprice.org/


Yup nuthin'. That chart looks f'd up.

PatColo
22nd April 2011, 10:25 PM
Good chart site for Silver:

http://www.oilbull.com/metals-charts/silver/


what's interesting about those charts is the one with 10 min bars, it appears this alleged spurt to 47.7X took place over around 40 mins, IE 4 10-min price bars. That would seem to add some credence that it's not just bad data.

We'll have some clarity when trading opens in Asia, Sun afternoon US time. That is, unless our sources are all in disagreement again... which I fear may happen.

BrewTech
22nd April 2011, 10:32 PM
Wow... for the first time in a long time, I don't know WTF the price of silver is!

Bid/Ask spread of nearly a dollar when gold at 1500+ is only 8 cents?

That's, ummm... a little odd.

VX1
24th April 2011, 03:19 PM
Come on, guys... where's everybody at???

WINNING!

Eyebone
24th April 2011, 04:01 PM
I think The DOG made 47.00 plus on Friday or Saturday morning but we just got the "official' news now.

1970 silver art
24th April 2011, 04:10 PM
I think The DOG made 47.00 plus on Friday or Saturday morning but we just got the "official' news now.


Yeah we did get the official news now but the DOG will not hit $50. I feel that it will get smacked down once it hits the mid-$48 to low $49 range. The battle for $50 will be tough and I thnk that the DOG will lose the battle this year, however, I think that sometime after 2011, it will eventually hit (and easily surpass) the $50 mark.

osoab
24th April 2011, 05:32 PM
I think The DOG made 47.00 plus on Friday or Saturday morning but we just got the "official' news now.


Yeah we did get the official news now but the DOG will not hit $50. I feel that it will get smacked down once it hits the mid-$48 to low $49 range. The battle for $50 will be tough and I thnk that the DOG will lose the battle this year, however, I think that sometime after 2011, it will eventually hit (and easily surpass) the $50 mark.



Keep dreaming Art. You will be sending a package West by next week.

1970 silver art
24th April 2011, 05:57 PM
I think The DOG made 47.00 plus on Friday or Saturday morning but we just got the "official' news now.


Yeah we did get the official news now but the DOG will not hit $50. I feel that it will get smacked down once it hits the mid-$48 to low $49 range. The battle for $50 will be tough and I thnk that the DOG will lose the battle this year, however, I think that sometime after 2011, it will eventually hit (and easily surpass) the $50 mark.



Keep dreaming Art. You will be sending a package West by next week.


We will see. It ain't over yet. ;D

Sparky
24th April 2011, 06:23 PM
I was with you Josey, but with this open pushing $48, I don't see how $50 doesn't get pushed now. With the last gang of speculation buyers pushing over $50, this is going to be one blowout of a correction. I predict we will see an intra-day drop of $7 some time in the next 45 days.

1970 silver art
24th April 2011, 06:39 PM
I was with you Josey, but with this open pushing $48, I don't see how $50 doesn't get pushed now. With the last gang of speculation buyers pushing over $50, this is going to be one blowout of a correction. I predict we will see an intra-day drop of $7 some time in the next 45 days.


Yeah I think that we could a smackdown of that size or larger. I think that it is very possible now for a correction of that size (or larger) since silver keeps running up like it is, however, I still think that the push for $50 will be one heck of a battle IMO that silver will end up losing this year (but will win sometime after 2011). I still think that once silver hits mid-$48 to low $49 range, then it will get smacked down very hard. I am still going to hold on to the belief that silver will not hit $50 this year until I am proven wrong. I guess I am just stubborn. What can I say? ;D

1970 silver art
24th April 2011, 09:24 PM
Silver just hit $48.00. The silver smackdown should begin very soon. ;D

StreetsOfGold
24th April 2011, 09:29 PM
Silver just hit $48.00. The silver smackdown should begin very soon. ;D


but...but...it's different this time :morph:

zap
24th April 2011, 09:53 PM
48.47 right now ! :D

ximmy
24th April 2011, 09:56 PM
48.47 right now ! :D



Gracious!!! How can we go to sleep...

ximmy
24th April 2011, 10:06 PM
OMG!!!!!!!!!!!!!!!!!!!!

Son-of-Liberty
24th April 2011, 10:14 PM
WTF!!!!

Serpo
25th April 2011, 01:28 AM
I think The DOG made 47.00 plus on Friday or Saturday morning but we just got the "official' news now.



Kitslow....... :boom :baa :fish :whip

VX1
25th April 2011, 03:42 AM
Silver just hit $48.00. The silver smackdown should begin very soon. ;D


Now, this just had to scare the crap outta ya. It's time to get past this "gut feeling". Silver is the canary in the coal mine, and it's speaking loud and clear.

VX1
25th April 2011, 03:50 AM
High so far of $49.85. All time historical high (in FRNs).

"Should they fail to push the price below $40 by next Tuesday New York time, the upside could be spectacular." Yep.