PGM and silver crash

[platinumdude]

Palladium down 45, Platinum down 59, and silver down 1.85. I'm surprised gold is only down .70. I guess they expect manufacturing to tank.

[platinumdude]

Guess gold finally got the message. Down over $18. At the end of the day I still rather hold physical metal than stocks or cash.

[Shami-Amourae]

http://gold-silver.us/forum/attachment.php?attachmentid=549&d=1312476424

[Twisted Titan]

no matter what type of bloodbath is visted on the price......nothing can alter the honest weight and measure of the asset

[Plastic]

I hope they crash it to 7.50 on paper so I can back up the truck for 25.00 an oz physical.

[ximmy]

It's dropping because the dollar be so strong... ::)

[Ares]

It's dropping because the dollar be so strong... ::)

I think ZeroHedge had an article saying that they increased margins on Gold and Silver again. If the site was up I'd get you the link. :)

[Libertytree]

Lots of folks have been preachin' that a correction is coming, maybe this is the early stages of it? With everything else going on this doesn't seem to fit though and I have to wonder if the boys at the shadow Fed are busy today?

[Shami-Amourae]

Pic related:
http://www.prlog.org/10837639-obama-birthday.jpg

[1970 silver art]

Palladium down 45, Platinum down 59, and silver down 1.85. I'm surprised gold is only down .70. I guess they expect manufacturing to tank.

It appears to be the beginning of the August smackdown especially for silver which ended the close of business today down $2.85. There might follow-through for tomorrow. It would not surprise me if that was the case.

[Neuro]

Usually the PGMs are early in going down, they indicate the downturn of the other metals. We will have major deflation now when 600 Billions are needed for the treasury, and no monetization from the fed. It will change soon, but until then a great plunge and a buying opportunity. Probably One Hundred Dollar Silver in May next year, but before that $25 (maybe)...

[osoab]

I think ZeroHedge had an article saying that they increased margins on Gold and Silver again. If the site was up I'd get you the link. :)


No margin hikes on the CME yet. http://www.cmegroup.com/tools-information/advisorySearch.html#

I think ZH posted that there were rumors of it occurring. International Brokers raised their margins on silver on Tuesday I think. I haven't read about any other brokers raising their margin requirements.

I thought Au and Ag held up well through most of the morning compared to anything else. The exception would be Lean Hogs up again today.
Gold held up well overall. I like ZH's explanation. Margin Calls. There is more loose money out there than I can imagine.


Off topic.

Went to the local guy today. Asked for a 1/10 gae. He told me he had no gold, had people giving him their numbers to call them when he got some in. Picked up some generic silver 40/oz. He seemed annoyed about the numbers. He is really more into the numismatics.

[osoab]

http://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html

Volume all but tripled from Tuesday to Today on Comex in the SI contract. The volume is still about 45% off of what is was in May.

[Shami-Amourae]

Bump.

[mick silver]

gold is up silver holding on for now

[Shami-Amourae]

http://gold-silver.us/forum/attachment.php?attachmentid=563&d=1312561781