Silver appears to be popping again

[pmbug]

Looks like it awoke from a long slumber. Trading news seems to have a consensus view that it's the start of a bull run that has legs to run for a while.

 

[pmbug]

lol... Jinx!

Roughly one hour after posting the OP, silver drops nearly 5% in minutes. Ah silver, your volatility just makes me laugh.

 

[pmbug]

...
Someone just decided this was the perfect time to dump over $2 billion worth of notional paper gold onto the markets...

Over 16,000 gold contracts (and 7,500 silver) were dumped in that 5/10 minutes segment.
...

http://www.zerohedge.com/news/2016-04-21/precious-metals-puke

You idiot! Get back in there and sell! Sell! Sell! /Mortimer

 

[Maxibillion]

Thats what I love to hear

I purchased around 10,000 oz of silver about 5 years ago and have yet to cash any in so I'm ready for the price to go up!

 

[rblong2us]

Wow Maxi a third of a tonne, you must be hurting

I purchased around 1600 ozt of silver in 2011 to spread the risk between metals and am still waay down

Im patiently waiting for a serious pop in silver before I will risk getting smug and stop blaming Max Keiser ffftt:

Good job SRSrocco is in there to keep us steadfast

 

[singleshot]

Another buying opportunity I cannot resist. Au=1270 and Ag=17.90 :flail:

 

[pmbug]

... moments ago Bloomberg blasted a headline which surprised market watchers, according to which none other than the ECB may follow the BOJ in tapering its QE next.

ECB SAID TO NEAR CONSENSUS ON NEED TO TAPER QE BEFORE IT ENDS
ECB QE TAPERING SCENARIOS SAID TO INCLUDE SLOWING BY EU10B/MTH
ECB TIMING ON TAPERING SAID TO DEPEND ON ECONOMIC OUTLOOK
...

http://www.zerohedge.com/news/2016-10-04/eur-surges-report-ecb-near-consensus-taper-qe-its-end

lulz. This looks like more "non-news" just like all the noise from the Fed about raising rates. Headlines moving markets and the "news" isn't going to be realized imminently if at all.

So yeah, looks like a reactionary dip and buying opportunity IMO.

 

[11C1P]

Wonder if it pops down under $15 again for any length of time. Really hope so, the wife got a temporary gig making $100/hr and some 12 hour shifts. but only for a 2-3 weeks. 4 days in and shes made about $2k. So finally when I have some extra cash PM's are down. This MUST be TEOTWAWKI.

 

[11C1P]

Hey bug, maybe you could make a thread saying silver has CLEARLY hit bottom. That should ensure I can get a heck of a deal. :wave: Then I'll let everyone know when I place a big order, cause then it will take another big dip.

 

[pmbug]

Here's to our recent "farcical paper market ceremony":

... from Mint Partners' head of capital markets Bill Blain ...
...
If the ECB’s trillion-billion bond buying largesse is over – then get set for the European sovereign debt crisis Part Two as markets focus back on debt fundamentals.

And this time.. it will be serious.
...

More: http://www.zerohedge.com/news/2016-...se-over-get-set-european-debt-crisis-part-two

... and in case you thought the financial elite were really serious about raising rates (or reversing course on propping up markets with interventions)...

Former U.S. Treasury Secretary Lawrence Summers floated the idea of continuous purchases of stocks as a potential ingredient in a recipe for the developed world to strengthen economies struggling with subdued growth and inflation.

Among the proposals that deserve “serious reflection” is the purchase of a “wider range of assets on a sustained and continuing basis," Summers said in a lecture at a Bank of Japan conference in Tokyo Friday. "I’m not prepared to make a policy recommendation at this point,” he told reporters later.

Summers, who also served as a top economic adviser to President Barack Obama, reiterated his concerns about “secular stagnation,” where trend economic growth rates have been reduced and neutral interest rates are lower than historic norms. To the extent that low neutral rates are in part the consequence of investors preferring fixed-income assets and steering clear of riskier options, policy makers can combat that by buying risk assets, he said.

Japan has “engaged in that type of transaction to much greater extent than other countries,” Summers said, pointing out among its initiatives the BOJ’s purchases of exchange-traded funds. “It is something that economic logic suggests should be considered in other places where the zero lower bound is a potentially important monetary policy issue,” he said, referring to the perceived lower limit for benchmark rates set by central banks.
Political Questions

“There are obviously important political and economic questions associated with government ownership of companies,” Summers noted. Some critics could term such a policy as “socialism,” he said, while others could highlight that governments already buy stocks in other ways, such as in the U.S. for federal employee pension funds.
...

http://www.bloomberg.com/news/artic...-idea-of-sustained-government-stock-purchases

Or they could, you know, buy gold...

 

[drAGonfly47]

End of year adjustments may grant your wish of $15 or less I suspect.
TPTB must keep metals down, in purchasing power.
Which do they seek metals to inflationary move from, lows? or highs?
I dare say lows.

 

[pmbug]

Silver back above 17 for this morning. Been a while since it was in this area. Gold still bouncing around 1350. The gold-silver ratio has dropped under 80 for the first time since early February. It will be interesting to see if this holds or continues as a trend.

 

[BigJim]

GSR-77.93/1 per coininfo as of this post.

 

[mmerlinn]

Looking at the Gold/Silver ratio chart, I see nothing to stop it from climbing to 100 to 1 again.

If it does get back to 100, it would be time to sell the farm and buy silver. Or dump gold to buy silver.

It will take a few weeks before we know for sure that the ratio will keep climbing, but at the moment I see no other alternative.

Time will tell.

Another longer term chart

 

[pmbug]

Well, that didn't last too long. Looks like big movement in the USD pushing down the metals today.

 

[pmbug]

Yeah, so we're right back where we were a month ago.... Investment dollars chasing yield sure are silly as they slosh around hither and yon.

 

[singleshot]

lol... Jinx!

Roughly one hour after posting the OP, silver drops nearly 5% in minutes. Ah silver, your volatility just makes me laugh.

That's the same thing that happens every time I buy I buy silver, the price drops immediately after.

 

[MarcLacroix]

Looks like it awoke from a long slumber.

Or maybe the shorts had a BrainFart and lost their grip for a bit.

Marc