It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Strange Dip in Silver Trading

page: 2
1
<< 1   >>

log in

join
share:

posted on Nov, 26 2008 @ 01:00 PM
link   

Originally posted by Moonsouljah
reply to post by blowfishdl
 


Have you or anyone else witnessed or heard of an instance when such a manipulation occurred and then was covered up on the charts?
After Kitco adjusted the chart- within the hour- I assumed it was an error on their part.


The only time I remember the Fed manipulating the market - documented in a NY Times article in 11/87 that I have framed in my home office - was the day after the crash in '87.

On that day, the Fed walked in and bought the hell out of a index futures contract (it wasn't the S&P) causing the the futures contract to go to a huge premium over the underlying basket of stocks. This allowed the arbitrage gang to sell the futures contract and buy the underlying basket thus locking in a spread for themselves.

The effect of this manipulation was to suck up the prices of equities and thus preventing a full blown meltdown.



posted on Nov, 26 2008 @ 01:11 PM
link   
Looks like some people on Kitco forum noticed the dip:

www.kitcomm.com...


So I called the General Inquiries number and the staff directory only had four names listed all of which were Chinese sounding--pretty useless information but I never would have guessed the head staff was so small. Nobody knew what happened- I'm sticking with graphing error.



posted on Nov, 26 2008 @ 06:14 PM
link   
reply to post by Moonsouljah
 


Computer glitch.

It happens.

It's hilarious when it happens on the NYSE. WHAT DOW IS AT 4,000??? ... oh, glitch!


There was a glitch just last spring now that I recall that made the markets all fubar..



posted on Nov, 26 2008 @ 06:20 PM
link   
Just an FYI.... the "stated price" may be 7 to 10 bucks but try to buy and oz of silver.

At work today, a few of us decided to check to see what it costs at the metals exchanges & dealers in our city.

Nobody has silver except at huge huge mark-ups in price.... silver 1 oz coins are in the $20 and up range and the cheapest we could find was 100 oz silver bars for $1,350.00 + tax and they only had one left.



posted on Nov, 26 2008 @ 07:26 PM
link   
reply to post by infolurker
 


Just like anything the smaller the purchase the higher the mark up. Der. Silver is a material to purchase, not a Dollar Exchange.



Buy in bulk and you will save. Your a fool to buy just a few OZ of silver. (Silver should be purchased by the 100's of oz), quite unlike Gold. Though it would be stupid to buy an oz of Gold to..

Whatever.



posted on Nov, 26 2008 @ 11:18 PM
link   

Originally posted by Moonsouljah
reply to post by blowfishdl
 


Have you or anyone else witnessed or heard of an instance when such a manipulation occurred and then was covered up on the charts?
After Kitco adjusted the chart- within the hour- I assumed it was an error on their part.


You remember when the stock market dipped to -777? Yeah, that was insider knowledge cashing out big time.



posted on Nov, 26 2008 @ 11:55 PM
link   
These are great links to see what is happening to gold and silver on Ebay. Here you can find auctions that are both ongoing and completed with the average prices computed. It is clear to see what the real market price of these metals is. No doubt, there is manipulation going on. How much is from institutions needing liquidity and how much is pure manipulation is difficult to know.

[url]http://www.24hgold.com/english/buy_sell_gold_coins.aspx?co_id=0[url/]

[url]http://www.24hgold.com/english/buy_sell_silver_coins.aspx?co_id=0[url/]



posted on Nov, 26 2008 @ 11:58 PM
link   
These are great links to see what is happening to gold and silver on Ebay. Here you can find auctions that are both ongoing and completed with the average prices computed. It is clear to see what the real market price of these metals is. No doubt, there is manipulation going on. How much is from institutions needing liquidity and how much is pure manipulation is difficult to know.

[url]http://www.24hgold.com/english/buy_sell_gold_coins.aspx?co_id=0[url/]

[url]http://www.24hgold.com/english/buy_sell_silver_coins.aspx?co_id=0[url/]



posted on Nov, 27 2008 @ 04:04 PM
link   
I think it may have been an electronic glitch as prices don't just halve and then increase by 100% in an extremely minute amount of time. More would be talking about it if it wasn't some electronic glitch.

I got to tell you guys, after I am done with Ford stock, I am getting out and buying commodity ETF's in January-February when prices decrease once again when the "rallies" recede back into cash.



posted on Nov, 27 2008 @ 06:35 PM
link   
That day the US GDP numbers were announced and they weren't good.
Looking at the chart, their was a big run up in price so the downward spike was a result of massive selling...trying to capture the higher price.
Not all that unusual...remember, buy low , sell high.

These prices are for futures prices of silver....not necessarily current bullion prices. You'd have to have sold a futures contract at the price, that day to capitalize on that price.


If you went anywhere and tried to buy they'd push your delivery out until the price returned to something in which they could profit.
This is what I'm hearing that dealers are doing. Avoid Kitco at all costs for that matter. They'll certainly take your money but the delivery is way into the 2 month timeframe if at all.
If you try to get your money back, they charge you a cancellation fee, of course.



posted on Nov, 27 2008 @ 10:59 PM
link   
Kitco live-charts, and their K-cast stream, track the front-month...ie, spot price of Gold/Silver...not the futures...and they have proven to be notoriously unreliable, especially during volatile sessions. For a free live-streaming quote system, the netdania.com QuoteList might be the preferred choice for reliable Gold/Silver spot prices (java required). Futures prices and contract details are available at the nymex.com homepage (click Markets>>Metals>>Silver/Gold/Platinum etc).

Current anticipation surrounds the possibility for a declaration of force majeure in the December Gold contract, as an army of PO'd foreign interests, and price conscious arbitrage hawks stand for physical delivery. First-delivery notice for the Dec contract is tomorrow, Nov 28...so we'll know soon enough...and where Gold goes...up/down...the volatile little sister follows...sometimes in dramatic fashion as we recently witnessed.

GL



new topics

top topics



 
1
<< 1   >>

log in

join