Silver Market Manipulators Are Desperate

bulliontools in Silver Gold Stackers • 3 days ago

Silver news is a hot topic to follow right now. Even those who don't see silver as a monetary metal can't deny its huge industrial demand. The price has been going up and down ever since it peaked at $121.64 in January. The silver futures markets manipulators got spooked, and they've been desperately trying to hammer the price down ever since.
(Created with Bing)

I was in the drive-thru at Dutch Bros this morning when I decided to see what silver price was doing. I smirked when it had been hammered down to a little above $68/ounce. It was trading around $85/ounce the night before when I had gone to bed. Fast forward to the time of this post and it's now at $74.59/ounce. Nobody in their right mind would believe for a second that it dropped $17/ounce in 10 hours, then rose $6/ounce in 14 hours.

This is today's silver chart according to Kitco.

Buy the dips while you can, but make no mistake. The manipulators are desperate to keep trying to hammer the price down. Eventually, their bag of tricks will run out and silver is going to run farther than anyone can imagine. We're witnessing history in the making, and I'm having a good laugh at the manipulators' expense as they spit into the wind.

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3 days ago in Silver Gold Stackers by bulliontools

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builderofcastles 2 days ago

I really wish i could buy the COMEX silver, but they won't ship it to me. To many regulatory hurdles…

When the COMEX price is shown to be shtupid, will the coin shops get together and say "this is the price"? Or maybe the smelters?

Or will we have to deal with COMEX spot + a markup that used to buy a whole ounce of silver, forever?

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bulliontools 2 days ago

I think eventually COMEX will become irrelevant other than for those who only want to gamble paper, while the price is set from maybe some sort of average between Shanghai, maybe multiple quotes from actual mining companies, and maybe major refiners.

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ssg-community 3 days ago

You received an upvote of 95% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem!

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kerrislravenhill 2 days ago

If I were either the Indian or Chinese Industrial Ministers I'd be reading this price drop as a message, "COMEX silver for sale!" and buy up all the remaining registered silver inventory. We'll see how this develops as we approach April when the notices are made.

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bulliontools 2 days ago

Right? Only fools wouldn't be jumping at the chance to take delivery!

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pizzabot 2 days ago (edited)

PIZZA!

$PIZZA slices delivered:
bulliontools tipped kerrislravenhill
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kerrislravenhill tipped bulliontools
bulliontools tipped bozz
thebighigg tipped bulliontools

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fiberfrau 2 days ago

!BBH

Posted using The BBH Project

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bozz 2 days ago

Interesting, so you think this is artificial and it really wants to go higher? I just wrote about it in my post today that I kind of don't care, but it has been interesting to watch.

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bulliontools 2 days ago (edited)

I think it's a hybrid. Some of this is genuine reaction to the chaos in the commodities markets as a whole due to the war in Iran and the Fed announcement causing the dollar to strengthen. Overall, most of the banks typically short silver and manipulate the market to make quick money with impunity, so I'm sure they have a hand in it also.

I think this is a temporary correction and we're going to see it go back up, but only if a floor forms around $65. If it drops below that, we could see it drop further as more contracts holders are forced to liquidate.

!BBH
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1 vote

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bozz 2 days ago

I trust your assertion. You have been doing this much longer than I have!

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bulliontools yesterday

Well, don't take my word for it. All anyone has are best guesses. If you're not in a hurry to sell, you're much better off than paper traders. For stackers, all we can do is buy when we can and try to catch some of the dips. 🙂

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bozz yesterday

Yeah, definitely not in a hurry!

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thebighigg 2 days ago

They are desperate to keep that price down, but won't be able to do so forever. The shortage is very real and isn't going away. The funny thing is this sort of manipulation is still "legal" by our government. COMEX is slowly losing all control!
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bulliontools 2 days ago

I think we're witnessing history in the making as far as silver goes. The manipulators should be locked up.

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!ALIVE

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