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Silver plunges 30% in worst day since 1980, gold tumbles
- hmmmmmmmmmmmmmm 8mo agoI didn't invest and generally avoid anything other than s&p500, ftse 100 and just letting money compound over time (because if I wanted to really gamble I would go Las Vegas) but I wonder how many 'ordinary' people are silently getting burned out there by how much hype there is now online.
- gadflyinyoureye 8mo agoI think it will still go up. Banking regulations changed, US dollar dropping. Industrial use going through the roof. This is a mid term investment. Probably see $70 and a slow build to $200 a once in two years.
- Joel_Mckay 8mo agoYou are probably right, but for the wrong reasons =3 https://en.wikipedia.org/wiki/Dead_cat_bounce https://en.wikipedia.org/wiki/Dead_cat_bounce
- Joel_Mckay 8mo agoThe stock market is not a place most amateurs make money. In some cases Vegas would give you better odds. lol =3
- qnleigh 8mo agoUnless you are talking about owning a casino, I can't think of any interpretation of what you are saying that is true. Index funds have a long history of steady growth. Las Vegas businesses make their profits off of the reliable losses of their customers.
- Joel_Mckay 8mo agoWhat people say they do, and what they actually do... are very different events. =3 https://en.wikipedia.org/wiki/Sealioning https://en.wikipedia.org/wiki/Sealioning
- pinkmuffinere 8mo agoI don't like your non-genuine engagement with this conversation. You've made outrageous claims, backed up with no data, and then seemingly pre-emptively linked to a page about trolling by asking for evidence. Well I'll ask you for evidence anyways lol. And I'll also give some that points against your outrageous claims: Retail investment in the stock market is at all time highs [1], and the percentage of investment in passive indices is also at an all time high [2]. It is _possible_ that retail investors are perversely fighting the trends and increasing their investments primarily by engaging in day-trade-esque behavior, but that would surprise me. Especially given that retirement accounts strongly encourage funds. I'd love to see some data pointing definitively either way though. [1] https://www.jpmorganchase.com/institute/all-topics/financial-health-wealth-creation/a-decade-in-the-market-how-retail-investing-behavior-has-shifted-since-2015 https://www.jpmorganchase.com/institute/all-topics/financial... [2] https://www.morningstar.com/funds/8-charts-us-fund-flows-2025-highest-net-inflows-since-2021#:~:text=Download%20CSV.-,Passive%20Continues%20to%20Separate%20From%20Active,-Since%20passive%20funds https://www.morningstar.com/funds/8-charts-us-fund-flows-202...
- Joel_Mckay 8mo ago>You've made outrageous claims, backed up with no data In general, over the long term most amateurs do better investing in real-estate rather than the stock market. This is a well proven fact true for over a century, and making it some sort of personal argument is bizarre behavior. You can spend 30 seconds looking it up, or continue to shovel your BS. =3
- gizajob 8mo agoHuge numbers based on the forum posts on my investment app. Literally Christmas for companies offering long leverage and CFD products. A few “survivorship bias” type people managed to put in a short at the $120 top of silver and accidentally made a killing and this weekend will be believing they are prophetic genii.
- goldfinger26 8mo agoIf you look at the history of related funds, you’ll see that there is volatility when the price gets sufficiently high as people early exit, and that historically it has gone up higher, then once the market is milked dry, it goes way down again for some years. This has happened multiple times. You may not be able to guarantee it, but I strongly suspect precious metals are a repeating pump-and-dump scheme. It could be money waiting to be made by those that see the pattern, or maybe it won’t happen, who knows?
- glass1122 8mo ago[dead]
- FerretFred 8mo agoI watched in amazement as the price tickers for gold and silver shot off the screen and then crashed mightily a day later. What surprised even more was that Bitcoin decided to join in - something I'd normally expect to rise as gold and silver fell.
- empiricus 8mo agoThis looks like an IQ test, but for who?
- Ekaros 8mo agoFor those on wrong side of options contracts expiring? I would guess that this is paper silver being manipulated.
- unsupp0rted 8mo agoIndeed. There’s a large delta between paper silver and Shanghai physical silver prices right now.
- ProjectArcturis 8mo agoChina only has one silver fund (SLV equivalent), and it stopped creating new shares. So the existing shares trade at a large premium to the value of the underlying metal. Is that the "Shanghai physical" price you're talking about?
- kgwgk 8mo agohttps://www.shfe.com.cn/eng/Market/Futures/Metal/ag_f/ https://www.shfe.com.cn/eng/Market/Futures/Metal/ag_f/
- nikolay 8mo ago[flagged]
- TrainedMonkey 8mo ago> But an "asset" to lose 30% of its value in a day... Wow! When prices are determined by speculation it do be do like that.
- NoMoreNicksLeft 8mo agoI bought back when it was pre-$15/oz. Though, for awhile it was fun to think I had $100,000 in my floor safe. But it's not a speculative investment, that's my "bribe my family's way out of the country" money. If anything, I hope it falls low again, I haven't been buying any junk silver the last few years and I should have been doing that.
- recursivedoubts 8mo agoStrongly recommend not discussing specific amounts and locations online
- therouwboat 8mo agoPeople who buy gold are strangely careless, I have workmate who has bought gold with his savings and probably everyone who has spend more than 5 minutes in his presence knows about it.
- ProjectArcturis 8mo agoThis was an inevitable correction. Gold and silver had gone parabolic for the past month. Nothing goes straight up. This takes the gold price all the way back to where it was last week. Honestly, I don't think Warsh's appointment had much to do with it.
- tootie 8mo agoI don't think people are thrilled with Warsh as much as they are relieved it wasn't Hassett or like Kevin O'Leary or something really insane. Warsh has relevant experience and knowledge. He is too close to Trump (and Ron Lauder) but hopefully knows better than to cause havoc.
- ProjectArcturis 8mo agoYeah, I think this is a good take. It was a combination of a very steep runup, and then the needle to the balloon was to take the possibility of a truly unhinged nominee off the table.
- trollski 8mo ago[dead]
- roenxi 8mo agoDoesn't this reset the silver price to where it was at the start of the month? This is hardly news, people got a bit over-excited in January. The spike is more newsworthy than the fall, and neither are all that interesting.
- Loughla 8mo agoSilver was around 1/3 of the current price a year ago. Calling this a crash is a bit much. If it hits $20 then it's a crash. Side note and completely unrelated, but I got my kid a 10 oz .50 caliber silver bullet last year and kicked myself for spending that much on a gag gift (like $300). . . . Should have bought a box of them.
- seydor 8mo agoWouldn't even say this is interesting
- 1970-01-01 8mo agoIt's looks like a flash crash. Somewhat rare, and from an algorithm perspective it's interesting. https://en.wikipedia.org/wiki/Flash_crash https://en.wikipedia.org/wiki/Flash_crash
- paxys 8mo agoThis is the "dump" part of pump and dump. TikTok influencers have been pushing the gold & silver rally for weeks now, and it was inevitable that people at the top would eventually cash out.
- onlyrealcuzzo 8mo agoMost of the influencers aren't even in on the investment, they just get paid to pump, and a lot of them don't even get paid, they just do it for the eye balls. People want to get rich quick. There's going to be a never ending list of people that will tell them how - just so they can get useless karma points on Social Media, even if they don't make any money, and just convince you to lose your money.
- NedF 8mo ago[dead]
- klatchex_too 8mo ago> People want to get rich quick What about Amish people? Or Buddhists?
- KellyCriterion 8mo ago> a never ending list of people that will tell them how you mean like these trading Bros parachuting onto a yacht and placing a trade and telling me that I could do this too with the correct mindset from their exclusive Telegram group? :-D
- constantcrying 8mo ago[flagged]
- fn-mote 8mo agoUnnecessarily toxic. How about you give your interpretation instead of making us infer it.
- Neywiny 8mo agoWhile not unexpected, the numbers still say that if you bought silver before Trump (which given history of metals countering uncertainty and the promised causes of uncertainty was a smart move), you're making a solid > doubling even now. For me, though, who gets too anxious when trying to attempt such things and ends up ruining it, it'll just go on the list of regrets like when I thought to but didn't invest in zoom once we started using it in 2020.
- pcurve 8mo agoWe knew the correction was coming, but I don't think anyone expected the 30% move in one day.
- christkv 8mo agoBig enough dip will cause algorithmic sell off I imagine deepening the dip.
- WalterBright 8mo ago[flagged]
- rolph 8mo agomaybe, but almost everyone will see the hot iron
- geraldwhen 8mo agoProbably the opposite. Corrections happen quickly and all at once, somewhat similar to growth. It would be more surprising if the 30% drop was spread out over a month.
- skippyboxedhero 8mo agoCorrect, momentum acceleration is generally a mean reversion signal in futures, and can be effectively combined with momentum signals i.e. you go long when it goes up but when it starts going up a lot you reduce your position. And these signals are usually very compressed in time because acceleration is actually just an acceleration in the number of decisions being taken, which tends to blow off quite spectacularly. Something that has changed is the large retail participation, which is making the scale of these moves quite crazy. Will be interesting to see what happens next, as with crypto the scale of the wipe seems so large that it is hard to see how that participation continues. Healthy for markets but I am guessing this will conflict heavily with the politics.
- delaminator 8mo agoGeorge Gammon did, 24 hours beforehand I cashed out :) https://www.youtube.com/watch?v=3k9UqNA2l_4 https://www.youtube.com/watch?v=3k9UqNA2l_4
- causalscience 8mo ago[dead]
- lordnacho 8mo agoIf memory serves, 1980 was the time of the silver corner by a couple of brothers.
- scandox 8mo agoThe Bunkers. My father told me the story many times as a child and he warned me sternly never to buy Silver. There's always more Silver he said. People will be dredging it out of old cupboards.
- deleted 8mo ago[deleted]
- kamarg 8mo agoThe Hunt brothers. https://en.wikipedia.org/wiki/Silver_Thursday https://en.wikipedia.org/wiki/Silver_Thursday
- WalterBright 8mo agoWashington state, as part of their frenzy of tax increases, decided that gold and silver bullion will be subject to the sales tax. Poof! There goes any point in investing in gold and silver. (Collector coins, too.)
- otterley 8mo agoWhat about GLD (SPDR)? I've been investing in a gold derivative for nearly a year and haven't touched a physical object yet.
- mr_toad 8mo agoBullion has a pretty specific meaning, I doubt shares in gold derivatives could be construed as bullion.
- laurencerowe 8mo agoThat's a win for society if the money is instead invested into something productive!
- WalterBright 8mo agoI never invested in gold because it is not productive. I don't have any money, either (other than pocket money), because I've invested all of it. Gold is usually invested in as a hedge against inflation. It's not really the gold that goes up and down in value, it's the dollar that goes down and up.
- pqtyw 8mo agoGold was worth about as much in nominal(!) terms ~2006 as it was in back in 1980 then doubled in a couple of years. Doesn't seem like a very good hedge but rather a very volatile speculatory asset...
- fjordofnorway 8mo agoGiven that the gold and the dollar are not productive I think one is betting that society is less productive than inflation when one invests in gold and that one will need to pay a ransom over a long weekend when one holds dollars.
- daedrdev 8mo agoSilver has plenty of industrial uses. Very little has changed in industry to cause demand or supply shifts to match the massive price swings. Thus a lot of this is probably meme investors gambling
- the_fall 8mo ago> Silver has plenty of industrial uses. About one third of this demand (photographic film and paper) more or less evaporated in the 2000s. You don't see that on the price chart, so I don't think you can seriously argue that the price is dictated by industrial uses.
- pfdietz 8mo agoNow look at what has happened to demand for silver for photovoltaic cells.
- carlosjobim 8mo agoSilver which is a physical and exists in reality, you call a meme? While dollars, euros, and all other currencies are all imaginary within databases and don't exist in reality.
- sigwinch 8mo agoI would say that the late 1970s reflexive silver bubble revealed magical thinking about silver which isn’t common with fiat. We know that big names rode the bubble on the way up, and made more on the way down. I think we can talk about meme pricing in the same way.
- impossiblefork 8mo agoThere's debt in dollars and euros, so people actually need to obtain dollars, euros etc. to avoid losing their collateral. That isn't the case with silver or gold, for the most part, and what are you really going to use them for, now that there are so many excellent rust-resistant alloys?
- 8mo ago
- Imustaskforhelp 8mo agoI knew that Silver prices were going all time high but I had still assumed that Silver (and to that extent Gold) were stable. Looks like atleast for Silver, that gets completely thrown out of the window now for some time. I also thought Gold was a safe haven but I checked and it seems that it lost (10%?)-ish as well. I have some complex thoughts and reasonings but I really liked Gold as an idea but looks like it is vulnerable to volatility at times too. I used to think that maybe banks can have gold itself and gold usually does or ~ equal to inflation itself rise and I mean theoretically net I think even this year it does definitely beat Inflation (I mean it grew double I guess in 1 year) but for banking concerns especially supposing someone got money this time and let's hypothetically assume they get into this gold bank, then its still volatile & they could've lost 10% and then tried to withdraw money and more short squeeze so the idea has a major flaw after this incident. I wonder how swiss franc is doing. I looked at it and it looks like its doing fine (1% down but I do feel like that's really okay) given how Swiss franc (seeing another cnbc article or yahoo finance ig) grew what 13-14% Although the problem with people holding swiss franc is that when I searched swiss franc I found this article (from CNBC itself) which actually shows how a strong swiss franc might be/is bad for swiss economy https://www.cnbc.com/2026/01/28/swiss-franc-us-dollar-price-fx-exchange-rate-trump-switzerland-snb-currency.html https://www.cnbc.com/2026/01/28/swiss-franc-us-dollar-price-... I do wonder, then what's the ideal solution of "safety" I am scratching a lot of options now & I am either thinking US inflation protected assets or World Equity are the only two stable/(really valuable) because the whole essense of value behind gold/silver was its stability which especially for silver feels broken but gold isn't that far behind either. Although atleast in my original context of banking, I later came to know about the concept of narrow banking and how there was a bank which actually wanted to invest in TIPS itself but that was blocked off by the feds for many reason. I do feel like TIPS might protect inflation protection but they don't really protect the erosion of wealth because I feel like (I am not sure I can be wrong I usually am) but the pricing of houses and other assets are rising higher than inflation rises & inflation itself can vary depending (so housing rent inflation might be higher) & depending on your lifestyle. Maybe TIPS really wouldn't be able to help you to say.. save to get house or really have you give the ability for money to do what it actually does. To me the idea of inflation includes buying houses too so if say someone with some salary was able to buy a house 20 years ago then imo when I consider inflation protection or investing or anything in general, I expect that my wealth could be able to buy me things ~generally at a good amount & that's the point of good investing to get good returns at understandable/ your own risk profile. I guess now I am personally more inclined towards world index funds in general I guess as a form of real stability where value gains are still backed by real gains (Something which I feel is core philosophy of the bogle philosphy & the reason why people should invest in first place) I may have gotten a bit off topic here but coming on the point again here about Silver. Would this be considered as (expected?) or is it a black swan event especially considering the 30% fall off. From the headline, it feels like a black swan event (especially when they compare it to 1980's) but I am curious to know what others think too. I do feel like these black swan events really shift how we think tho & we can have it in our better judgement for future ig imo.
- int32_64 8mo agoCrypto markets won in the sense that every single asset class can somehow trade like a memecoin now.
- neals 8mo agoBut shouldn't everybody have equal access to these markets?
- Loughla 8mo agoThe hype around physical silver has been astounding in 2025 and so far in 2026. I have nothing to back this up, but I believe a group of investors learned from cryptobros just how easy it is to pump and dump with social media and scare tactics, and here we are. Somebody please correct me.
- its_ubuntu 8mo ago[dead]
- deleted 8mo ago[deleted]
- deleted 8mo ago[deleted]
- carlosjobim 8mo agoPeople have been trying to pump silver for twenty years.
- GJim 8mo agoOnly twenty? https://en.wikipedia.org/wiki/Silver_Thursday https://en.wikipedia.org/wiki/Silver_Thursday
- Ekaros 8mo agoI might be cynic and consider that other side in media have no marketable skills and other side is there just to get their name out so they can find a few suckers to give them money manage. Or they have something to sell like courses and seminars. Or it is free publicity for them. Pandering to various fields is likely profitable, be it cryptobros, goldbugs, silverstackers, hard money advocates, doomsday preppers, permabears or those believing in astrology I mean technical analysis...
- jmyeet 8mo agoThis isn't a simple correction. I've been following this for a couple of months and there's a lot going on. I suspect this isn't over. It's noteworthy that the year 1980 because that was when the Hunt brothers tried to corner the silver market. It's often used as an example of the market correcting itself. It's actually a better example of how the exchanges broke the Hunt brothers to bail out the banks. The key event that caused the collapse is sometimes called Silver Thursday [1]. The exchange changed the liquidity rules, forcing a margin call the Hunt brothers couldn't make, forcing a selloff. This was arguably to bail out banks with large short positions in silver. Well, pretty much the exact same thing happened this week when COMEX massively increased the margin requirements [2]. It's worth noting that the market is in a state called "backwardation" where the spot prices are higher than future prices. Refiners aren't buying silver, even at the inflated spot price, because of price risk. But also, the COMEX spot price is increasingly being viewed as "fake" because foreign exchanges are paying significantly more for physical silver thna the paper COMEX price [3]. Basically, this whole thing looks like another GameStop ie a short squeeze. There's not enouugh physical silver to meet contract demands. There's like 300oz of futures silver contracts per 1oz of physical silver. If you followed the original GameStop short squeeze, the price tumbled there too but didn't solve the short squeeze. You even have exchanges closing people's options positions (eg RobinHood) despite them being in the money. Banks still need to cover their significant short positions and it really looks like the exchanges are trying to crash the silver market to do it. [1]: https://en.wikipedia.org/wiki/Silver_Thursday https://en.wikipedia.org/wiki/Silver_Thursday [2]: https://www.bloomberg.com/news/articles/2026-01-28/cme-raises-silver-margins-as-prices-smash-records-in-wild-rally https://www.bloomberg.com/news/articles/2026-01-28/cme-raise... [3]: https://seekingalpha.com/article/4861917-why-silver-prices-in-us-china-have-diverged-so-sharply https://seekingalpha.com/article/4861917-why-silver-prices-i...
- tim333 8mo agoIt still up an awful lot from the start of 2025. From about 30 up to 115 and down to 85.
- nitwit005 8mo agoYep, I expect a bunch of people to buy at this price, hoping it's the bottom, but it still has plenty of room to fall.
- thrawa8387336 8mo ago*Paper silver. The gap widens
- kleiba 8mo agoSure, but compare the price of silver to a year ago...
- vr46 8mo agoWhat goes up quickly comes down quickly? At least we can afford nice things again
- joquarky 8mo agoTemporarily
- oytis 8mo agoIs there any good explanation for what is happening with gold prices long-term? If you look at 5-10 year charts it was pretty stable and started to look like NVIDIA stocks since 2023.
- andrewpedelty 8mo agoThis article does a reasonable job of laying out some of the drivers: https://markets.financialcontent.com/stocks/article/marketminute-2026-1-30-the-great-precious-metals-reversal-gold-and-silver-plummet-as-parabolic-run-exhausts-retail-bullishness https://markets.financialcontent.com/stocks/article/marketmi...
- g-mork 8mo agohttps://robinjbrooks.substack.com/p/everything-you-need-to-know-about https://robinjbrooks.substack.com/p/everything-you-need-to-k...
- hahahahhaah 8mo ago> Gold is now up 50 percent since August 2 SP500 with reinvestment for comparison is 72% NVidia without reinvestment 900%
- sjs7007 8mo ago50% since August 22 2025, not the year 2022. I'm assuming your SP500/Nvidia returns mentioned are from 2022.
- sparrish 8mo agoIt'll recover that 30%+ within a week or two.
- nozzlegear 8mo agoAt least there's still money in the speculative Pokemon card market! /s
- deadbabe 8mo agoA friend had taken out a second mortgage to buy a ton of silver at the highs, they are not doing good. His wife doesn’t know.
- rationalist 8mo agoI think it was in the news when a family did that to buy Bitcoin many, many years ago. Not telling the spouse is pretty bad though.
- deadbabe 8mo agoA lot of people don’t tell their spouse financial things. Should be grounds for divorce.
- pfannkuchen 8mo agoTop is in if true.
- rvz 8mo agoExactly.
- hd4 8mo agoFair to assume trillions of the physical metal weren't simultaneously dumped onto the market in the past day; this is entirely ETF driven therefore it's also safe to assume there is manipulation taking place to drive the price down. What I don't understand is why, when there appear to be signs of a supply shortage, market forces appear to want to drive the price down and cause any remaining inventory to flow towards China where there is a $30~/oz arbitrage to be made.
- sharadov 8mo agoTrump announces Warsh and this happens. Can't be a coincidence. Incidentally Warsh's father in law is billionaire Ronald Lauder who is trying to get Trump to capture Greenland. Sounds like father-in-law got him the role. https://www.theguardian.com/us-news/2026/jan/15/ronald-lauder-billionaire-donor-donald-trump-ukraine-greenland https://www.theguardian.com/us-news/2026/jan/15/ronald-laude...
- snowwrestler 8mo agoWarsh played a substantive role in addressing the financial crisis in 2008 and has a lot of relationships and respect across financial markets. How independent will he be? Who knows. But folks believe he is at least knowledgeable and competent. Which is not widely believed of all the president’s appointees.
- MetricT 8mo agoGold has merely mean-reverted, not "crashed". Some profit-taking since gold got a bit ahead of itself. If gold continues growing at the same rate as the last 6 months, it will take gold all of a month and a half to get back to where it was. https://i.imgur.com/bRAy1FB.png https://i.imgur.com/bRAy1FB.png Now, gold might not continue growing, but D.C. hasn't fixed its problems that are causing gold to rise, so I do have a degree of confidence that it will recover quickly.
- stego-tech 8mo agoEveryone is focused on commodities and ignoring basically the entire global market got shook today. Bonds, indices, commodities, and securities all got tanked. Nothing in my portfolio was in the green today, and I generally invest conservatively since it’s my (maybe, hopefully, someday) house down payment at stake. That said, I agree with you that this feels like a bunch of prominent exits to convert paper profits into actual ones. The underlying problems remain and will become increasingly exacerbated as the year drags on. I figure I’ll recover losses by this time next year if I just refrain from panic selling.
- etrautmann 8mo agoThe market went down less than half a percent today? That’s not a great day but certainly not losses that are even notable
- MisterMower 8mo agoKids these days have no clue what a real bear market looks like. They were barely in grade school during the 2008 crash.
- thegrim000 8mo agoKind of a good, non-political, encapsulation of one thing that's majorly wrong with the internet nowadays. Somebody that has so little clue what they're talking about is coming here, posting messages, and having as much voice to manipulate the minds of others as, for example, some tenured economics professor does. No way to tell the two types of people apart, the posts looks the same, know way to know what experience/knowledge/credentials the poster has. Now imagine all the people posting their thoughts in regards to something like the latest middle east conflict - what percentage of those posters know any better what they're talking about than this guy does about economics?
- hahahahhaah 8mo agoHow do people feel about gold? To me it is purely speculative vs. index funds. If I were rich mabe have a bit of gold for the bunker next to the long life tinned gourmet meals. Better than fiat but not as good as company investments.
- ProjectArcturis 8mo agoI think gold will keep going up over the next few years, because many central banks are converting from dollar reserves to gold. That means very large demand which is mostly price-insensitive.
- ilamont 8mo agoCoincidentally, late this morning I went to one of those traveling roadshows where they purchase precious metals, bringing along a childhood coin collection that I wanted to turn into cash. I started with a single 1 ounce silver medallion and was given a quote for $80. When I had checked the silver price earlier this morning it was above $115. I questioned the buyer about the spread and he said the spot price was down, and the smelters were backed up so that was their best offer. I brought out some other silver coins, specifically liberty head and Morgan dollars. He looked at the app on his phone and said “hold on I gave you the wrong price,” and then said “I’ll give you $35 for each of them,” including the pure 1 oz silver medallion. I said no thank you and left, miffed, thinking he was jerking me around. I didn’t realize the price of silver was collapsing.
- blitzar 8mo agoIf you pulled out more product when offered $80, the price was only going to go down from there.
- 0xmattf 8mo agoI'll never forget when silver went down to $11/oz. I immediately went to my local metals dealer to make a purchase. I watched the two owners through the glass windows carrying a huge tote to the back room. When they opened the door, they said "so many people came in and bought everything", both sweating and breathing heavy. Lied right to my face. They left out like five generic 1oz silver bars and a small gold coin. And again, when the price was high, they don't want to pay anywhere near the spot price. I learned this: silver/gold is definitely not something you buy to "flip", at least in the short term. It's something you buy and hold for as long as you live, if possible, perhaps passing it down to your kids.
- nlh 8mo agoChances are, he was indeed jerking you around. Nearly every one of these traveling road show style buyers pay very very very very little for coins. They have no reputation to uphold and are the literal definition of “fly by night” - and by the time you realize how little they paid you, they’re gone. Source: Am full-time professional coin dealer (who is NOT fly by night!) and have to deal with the repercussions of people getting hosed by these roadshows all the time :(
- slashdev 8mo agoThis sounds awful, silver down 30%, gold down 11%, but it just brings them back to the 50 day moving average. It doesn't even break the bull trend. Next week we'll find out if this was a buy on dip opportunity or if it marks a multi-year top in precious metals and the start of a deeper correction and real technical damage. One day that will happen and the trend will reverse, but it's always more probable that a trend continues.
- jongjong 8mo agoThe headline is incorrect. It's Silver ETFs that tumbled, not silver. The event I'm betting on is Silver shortage and the removal of ETFs from chart price calculations. Though this price drop may be a delay... Or maybe lower prices could hasten demand, leading to that scenario. Precious metals is a weird market I guess as price rises can drive demand just as well as price drops.
- chaostheory 8mo agoIMO this is temporary. Why? 1. Geopolitics. Globalization is dying. See 3. 2. Debt. Countries refuse to tax or do austerity. The only thing left is to destroy their currency by printing away their debt. 3. Preparation for a new global war which requires massive spending. 4. Basel III which made gold tier one. Unallocated gold does not qualify as a tier 1 asset
- geraldog 8mo agoThe risk for Central Banks holding their own bullion is low, away from the almighty Dollar, and Gold has never ceased to hold value, while Silver is actually useful but seriously overbought. We're actually paying a premium for risk-averseness in the very nature of Gold, an asset that produces no dividends other than holding its own intrinsic value. This time the bullish-on-Gold news outlets are right: there are fundamentals driving the madness that is the Market. Something about Japanese rice futures candlestick school of days past predicting sell-off after 8 to 10 sucessive record highs... Summing it up, the volatility specially of Gold (Silver is a bubble may I remind you) doesn't discount the possibility of an overall upward trend of years for Gold and a respectable USD$4000 for the spot troy ounce does not seem crazy at all, as momentum builds for regime change in Iran. It's a plain analysis. Trump may not TACO on this and after hell on Earth is unleashed, Gold will actually see action to unprecedented levels. Maybe. Maybe not, but USD$4000? I doubt very much it would break through that support level.
- KellyCriterion 8mo agoThanks for Nr. 4 - wasnt aware of!
- deleted 8mo ago[deleted]
- sakopov 8mo ago$SLV is still up 125% in the past 6 months after this "collapse" which is absolutely bananas.
- mikewarot 8mo agoEarlier today, it occurred to me that the "spot" price could go to zero if the physical metal isn't available for delivery. I missed the dip down into the 70s.
- MisterMower 8mo agoHow would the spot price go to zero? Wouldn’t it be infinity? Demand is not zero, supply is zero?
- mikewarot 8mo agoSpot price is the price of a futures contract, not the actual silver. If the exchange can't deliver, what good is a contract? It would be worthless.
- almosthere 8mo agoyeah but its up 125% in 6 months, so this doesn't hurt anyone except the crazies that saw the price already high a week ago and bought
- blindriver 8mo agoAs someone who has been actively trading silver for the past year, the real reason that silver plummeted is because: 1) the market was looking for an excuse and the new Fed chain nominee was as good a reason as anything. 2) The margin requirements on metal futures changed THIS MONTH. Instead of having daily limits, they changed the margin requirements for futures contracts in real-time throughout this move. Futures brokerages calculate margin requirements every second, so what happened was as silver dropped today, the margin requirements got more strict and then people were being liquidated out of their positions immediately. This caused the markets to crash the way we did all day. Previously, what you would see are circuit breakers kick in and the contracts would stop trading for a certain amount of time. You never used to see down 30% days ever, because circuit breakers would limit is. You would see limit down days, and the contracts would stop trading for the rest of the day and then reopen the next day. In the 70s and 80s I think there was a time when some contracts would open at limit down for 15+ days in a row and wouldn't trade for the entire day and people were financially ruined because they couldn't get out of a position for weeks on end. So finding an excuse to sell on top of forced liquidation is what you saw today. It's a classic volcano top and I think silver is going to drift lower for the rest of the year.
- burnt-resistor 8mo agoI don't see how world risk changed overnight. To me, that means these market bubbles are financialization Ponzi schemes unmoored from fundamentals.
- hckrnrd 8mo agoEnergy and Materials were among the most notionally net sold US sectors this week, GS Prime Book: US Long/Short Ratio (MV) driven by both short and long sales. Collectively, this week's $ net selling across the two sectors was the *largest since April '25* and ranks in the 96th percentile vs. the past five years.
- wodenokoto 8mo agoI am super confused about the markets stance on gold, silver and the dollar. Did the market consider Powell the cause of a weak dollar and not Trump? I thought Powell was what was standing between the dollar and complete recklessness.
- KellyCriterion 8mo agoRise your hand if you have been holding a leveraged positions which is now vaporised :-D
- alecco 8mo ago"The last full, comprehensive audit of Fort Knox's gold reserves was in 1953". This was one of Trump's broken promises. Unless you have physical metal you are just gambling on a videogame playing against the dev studio.