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Title: HTF did silver drop 10% in an hour?
Source:
Kitco
URL Source: http://www.kitco.com/market/
Published: May 1, 2011
Author: me
Post Date: 2011-05-01 18:49:23 by Critter
Keywords: None
Views: 299
Comments: 17
I checked melt value on $13.60 face value of 90% silver US I bought the other day. I noticed at www.coinflation.com/coins/silver_coin_calculator.html that silver was showing a value of $43.19, but last I had seen it was at about $48. I thought they were using dated data, so I checked at kitco, and sure enough, in the hour or so that the market is open, silver dropped 10%. Talk about manipulation!
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#8. To: Critter (#0)
It's doubtful you'll get get that price by the time the markets open here in the morning. If you can, it will probably be the last decent buying opportunity you'll ever get. Not really sure what's going on in Asia right now, but it looks like it's coming back up pretty quick. Gold may be in play tomorrow, saw a couple of stories about China wanting to buy a trillion bux worth. That'd leave them with ONLY two trillion in worthless judeo-Amerikkan paper.
Silver fell sharply early in thin Asian trading on Monday, retreating further from a record high set last week. It fell about 10 percent to $43.36 [XAG= 43.32 -4.48 (-9.37%) ], well off a peak of $49.51 set last Thursday. Trading is expected to be very thin with many markets in Asia shut for public holidays. The move came after data last Friday showed speculators had scaled back their bullish bets in COMEX silver futures and options to the lowest level since early February. It also followed news last week the CME had raised margins on Comex 5000 silver [SICV1 44.14 -4.444 (-9.15%) ]. Australian Dollar Below 1.10 The Australian dollar fell below the 1.10 level against the U.S. dollar after that collapse in silver prices. The Australian dollar extended declines in early Asian trade, last trading at 1.0943 [AUD= 1.0978 0.0006 (+0.05%) ]. Markets will also have their eye on the Reserve Bank of Australia's (RBA) rate decision on Tuesday. The central bank is widely expected to keep the cash rate on hold at 4.75 percent, though traders will be looking to the post-decision statement for direction.
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Only thing I'm buying right now is food. Bought a big honkin' deep freezer at Lowe's today, to be delivered Tuesday. I'll have it filled Wednesday. I'm dumping dollars as fast as I can. All Lowe's Energy Star rated appliances are 15% off plus free delivery right now.
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