Silver is Steadily Declining - Down over 22% in Seventeen Days

[NazTheGreat]

HEY! He looks like the guy from the Jeepers Creepers movie!

[AudiophileTubes]

Oh really Mr. Shortsightedness... it's at about $37 an ounce as of today (March 30, 2011)!!!

[photon1138]

Nice - 12 months later and I am looking at $34... do your homework so that you can use market timing after differentiating between price and value.

[wtsc9]

2/11  30.00 oz

[TheBgcheez]

Silver, gold, beans or toilet paper doean't matter. When the shtf my neighbor being the retard he is believes Jesus will save him and his family will be trading his brand new truck for a bag of beans. See all these items value will be what we set not JP Morgan or anyone else. It will be us, because if I have something you don't and you want what I have I set the value of the trade. Don't believe marktet value, believe trade value we will set in the near future.

[RayAir1]

When the dollar collapses and the REAL economic crash happens, silver and gold will save your Jew ass.

[candersona1]

Send me every ounce you have I'll pay 18 bucks an ounce

[redcat362]

I paid an average of 13.29 out the door a few years back. So at 30 bones per now. I don't feel bad about not paying the 8 per that it fell to in '08. Up ward and on ward to the moon now baby.

[nyanga4338]

Well, today is Nov. 21, silver sits at $27.47 ..3 weeks ago Ag was $29.66. Last month jp morgan and hsbc have BOTH BEEN CHARGED with manipulation of the Ag market the RICO act has been imposed. Your explanation for it's volitility .WRONG ! Ag's up &down ZIG & ZAG movement is due to jp morgan & boyz, hsbc & some help from their other gangster buds the CME..NO Au does not have more uses... No this was not a NATURAL CYCLE. Im glad you like Ag but all your reasons for AG volatility has been exposed!

[damienrockaterror]

Quit valuing your silver in dollars. The US Dollar is worthless now but only a few of us have figured it out. It is only a matter of time. The price of silver will go to INFINITY.

[SuperGink]

i looked 4 silver bar,coins about 3mos ago there was a lot of silver on e bay.

now there not as much just coins and some stuff.i hope silver gose down some more so i can get more at a good price!my friends started when silver was 4 bucks!

i am late in the game but i will not be left out!!!

[stybarrow]

anyone who offers this kind of investment advice, is probably not going to be around in a year. nice poster, by the way.

[johnywinslow]

Dude , as long as its under 25.00 an oz BUY BUY BUY, its all a house of cards of manipulation, it will fall,and when it does, the dollar fails, and our only options are to bow to the banking cartels and accept a world currency or amero, OR we reclaim america and go back to the gold standard, either way silver will make regular people wealthy in the future. thanks for your vids !

[davfritz]

Don't count on its use as mirror finnishes. It tarnishes, and requires either a glass top or a protective coating. This being so, alluminium can be used. If its price is too high, rhodium can perhaps become competitive if its production increases, being non-tarnishing. The pioint is, there are alternatives. No boom in solar may occur, we don't know yet. As far as mirror collectors are concerned, they are only good on a grand scale in dessert areas. The finance needed is increadible.

[davfritz]

much adoo..... just buy as much as you can while you can. Thats all we need to know. A worldwide stuff up is comming, and it will shoot up then. Thats it.

[Monarch3436]

I'll agree with the latter... it's an insane world.

[drey983]

I have been in the investment biss for 30 years I own alot of natural gas properties. Believe me the only people that will come out of this better is to own hard assetes (sorry for spelling my office lady is not here LOL ) I started buying silver and natural gas proprities in 1980 I will buy silver all the way down to 0 There is no recorvery the stock market crash of 2010 will come. In December of 09 we went into our office one morning and triger sell orders for over one million dollars

[GuildF40]

be fun when it does 22% UP in one day :o)

[GuildF40]

Also i have noticed that as the price dips the OVER SPOT is going up to balance the loss.I agree I mean if spot gold hits $50 are you really going toget it at $50 NO WAY. The con is unfolding as I type :o)

[geniusmarketing08]

yeah, we are really seeing the beginnings of a wake up phase to PM's now as US silver eagles have sold more in January than any other January since 1986 when first produced. Also, if you look at the higher premiums now on bullion rounds, even with lower spot price, it's a sure sign that this is very temporary and demand is still up! I wouldn't be surprised to see silver drop further still though and when it does, Ill be buying baby!

[geniusmarketing08]

These recent European debt problems in Greece etc. in theory should have seen a flightt o true safety (gold and silver) however due to the long term propoganda of the (paper) dollar being a safe haven, so a flight to the dollar ensued creating a downward pressure on PM's. Eventually though there will be a flight from the dollar to PM's and then you have Huge rises in value when you have similar problems in future globally :)

[TheAntigov]

Just went to APMEX. They want $18.19 per eagle, minimum of 20. Add shipping and your paying close to $20.

[bluediamond2077]

yeah there eagles are high what's up with that? I remember when spot was higher then it is now and I got them for cheaper then they are today. The 5 oz bars are a good deal now though.

[davincij15]

Msg me and I will explain how Apmex and coin dealers can sell silver at a 22% discount from 3 weeks ago and still see profit.

[streetmoney21]

Apmex took eagles off the shelf in the morning hours of trading. when the price went back to 15 they had eagles for sale.

[cosmicguerilla1]

check it out !

markets , gold and silver all have a hammer on the daily

are we all trading a software programe ?

[JustAnotherDisguise]

Ted Butler hit it on the nail too about these future contracts... they are supposed to be discovering prices based off of supply and demand, not dictating and manipulating markets. Only 1% of silver transactions deal with physical bullion. The rest is "paper", just like the derivatives... and the same thing is about to happen. Just remember, "Paper is poverty... it is only the ghost of money, and not money itself." These bullion companies and foreign governments are done playing this game.

[JustAnotherDisguise]

It's not secret that metal ETF's are manipulating the markets. They have been for 15/20 years but that is soon coming to an end. The big bank institutions barely have money to create big sell offs anymore to force people out of these, never the less, the shorts have been larger then ever. This only buys more time for people to still get in before the ship completely sinks! As long as silver is below $20 it's a bargain, keep stacking!

[35slave]

all Commodities are down, Energy, Metals, Grains & Cereals. dollar up? 9.7 unemployment wtf. something stinks.

[BLynchCAN]

No matter what silver will be good.

[solojam]

derrick as silver goes down, the US dollar goes up so if your money is in CDN funds then you are not getting hit as bad as say US funds

[vention4wh]

I bought my silver for 4 reasons, emergencies, to protect wealth from inflation, to keep some money invisible to government and the legal system (just in case I get into legal trouble someday), and to spend during retirement. I could give a rip where silver goes until then.

Right now I'm putting everything I have into my mortgage. If I do that I'll be free of it by December. If silver drops to 14 bucks an ounce though I'll delay the mortgage and load up on silver.

[vention4wh]

2. Having some of your wealth outside the system could be important someday. Let's say I crashed my truck and got sued for everything I own and lost. If that horrible situation happened, I'd still be able to take some silver down to the coin shop and cash it in. That adds a nice backup to my normal finances that are visible to the government.

[solojam]

@vention4wh also teh wife doesnt have to know how much u got in silver also

hehehe

[dlmaniac]

Google "Ed Steer's Gold & Silver Daily". He had a special analysis on Fed 5th regarding silver tanking. His past analysis was well worth reading as well.

In short, it was bullion banks' dirty play on paper contracts to drive silver price down. I'm not panic. I'm waiting for the right spot to get in and load more.

[PorscheB06]

How far do you think the price of Silver will go this time? $10.00, $8.00, $5.00?

[donniebrasco24]

in nov-dec 08 when i purchased most of my silver it was trading at 8.90 bucks an ounce. The prenium at apmex for a 100 oz bar was about 3.29 over spot now the same bars are at about 79 cents per oz premium. Thats what will happen if it hits 10 again or lower per ounce. You will still pay more than 10/oz. the price whether you buy at 14/oz or 10 /oz will be virtually the same due to a fluctuating premium...

[donniebrasco24]

this doesnt mean crap. People are still paying 20/oz for physical silver on ebay. maybe they know something we dont???

[joeymackaroni]

screw ebay go to Apmex. I wouldn't trust ebay anyway

[DontTread0nMe1776]

@joeymackaroni ...Agreed, Apmex is great to deal with, the one time there was a mix up in one of my orders they gladly corrected it with no problem.  It is also worth checking out Gainesville Coin, they are the only other place I have personally dealt with, sometimes they beat Apmex prices a little especially if you are paying with credit card.

[donniebrasco24]

unless you're buying over 10k worth of silver, expect to pay more from apmex,than ebay especially when you factor in shipping and extra fees if youre using a credit card...

[fluttervalve]

APMEX has a sale for .79 cents over spot for 5 oz bars. I bought 300oz from them and only paid 24 dollars shipping thats a total of .87 cents over spot. Cant beat that

[bluediamond2077]

true there credit cards fees are NUTS .

[manwithbreasts]

the dollar is the place to be -

Prechter is right - gold/silver are in the first stages of collapse

[jamezbond78]

Even with the spot price down, Apmex is not inclined to lower the premiums. I think it's because the demand is high and sellers are rare, it's just the big banks that are manipulating the price. If anyone is selling they must be insane.

[devience666]

I have a hard time agreeing with anyone on $1000 an oz for silver. Not that I dont think it cant go that far given the metals fundamentals and the nature of inflationist fiat currencies. My arguement is if silver is selling for 1000 an oz why would you ever want to sell it. If silver is 1000 then gold is waaaaay up and all other commodites have an inflated value as well. Silver 1000? Then oil 5000 a barrel. You havent made any money just preserved your purchasing power.

[bobdrake]

Great buying opportunity for silver. I love it!

[1989kirby]

im not buying anny more silver until it is less than12.40usd/oz.

I have $1500 in emergency money. i will use it at 12.40/oz

i only have $1500 so i figure

12.40/oz.+2.50 over spot+$25 shipping should do it.

Also $30/oz silver would get me double my money

[jamezbond78]

2.50 over spot? That's insane. Why not just buy from Apmex. Bullion is only $1 over spot.

[exquisiteinvestment]

The silver and gold prices will continue to drop. The truth is in the last

year specuation has driven the price up along with a weak dollar. In addition

with the slow down in the tech sector which are the major consumers of silver

the manufacturing demand will continue to decrease. We are now in a global

deflationary environment which will last for years. Inflation is many years down

the line so at this point it is not a worry. Silver will hit $7 before spring & gold back down to $700.

[January132005]

Dead wrong.  Regardless of the basis of your analysis leading to the conclusion that there will be years of deflation, it fails in one critical aspect. THE FED WILL NOT ALLOW DEFLATION! They will print and print and print and print and print until your deflation goes away. Then you will see the Weimer Republic, American style.

[jamezbond78]

You're right as long as people believe that pigs can fly and that a piece of paper is more valuable than silver/gold.

[harveybirdmannequin]

The drop in Ag in a relatively short period shows how much speculation plays into the price either to the up/down side (volatility). The drop was because of a rise in the USD. This shows the speculation was done on leverage and it's a reverse USD carry trade. It all comes crashing down or spiking up when physical delivery kicks in. Like every other commodity it should be worth infinity $ because you can create as much as you like. As least in the old days you were limited by the number of trees.

[harveybirdmannequin]

Look at this news story:

Nunavut has gold mine operational. Construction on a mine owned by Agnico-Eagle Mines Ltd. at Meadowbank, located about 110 kilometres by road north of Baker Lake in Nunavut's Kivalliq region, is complete. The mine will produce 450,000 ounces of gold a year for 10 years.

I know I'm buying.

[hash4guns]

I checked with three of my local dealers,

and they are all sold out damnit!!! I did end

up buying some junk silver though.

Interesting thing is that they have orders

stacked and they are not willing to part

with the little silver they have left.

Regards,

[hiphopsocnroc]

Today I went to Apmex to re-up on some silver eagles, and interesting enough, they were all out. So I thought to myself, I came here about two weeks ago, and they were stocked ready to go, now they are ALL out, huh, either they don't want to sell at these low prices (and take a hit) or people bought all that silver, and I tend to think its the former. They know the price is going to go up, thus avoiding to sell physical. peace

[exquisiteinvestment]

Wrong gold and silver has been a huge bubble. People are getting killed left and right. Silver will be $7 an ounce by April.

[hash4guns]

OK then. Hope you are right. I've been

buying silver for years. Predictioins come

and go. In the long run US and dollar

is screwed, and you can take that to the

bank if there is any left open.

Regards,

[frenchy137]

lol id like to see that hehe

It could happen, who knows :)

If it does ima stack a huge amount of silver lol

[Hendo1974]

yes, pigs fly and I'm the Next James Bond that is going to shag Paris Hilton! Your comments is utter BS! U sound like Soros, Jnr! Gold in a bubble, only real money!U keep hold on your Fiat rubbish and the rest keep their silver/gold and we see who is right in 12 months!

[GovWillKillU]

its not any type of market dynamic. just speculation; anyone who rode out 2008 and held knows this. you buy and hold silver because you dont want to be in debt based fiat currency. lower the price, the more attractive it becomes, the more supply get sucked away, the slower the miners dig... all setting up scarcity.

[GovWillKillU]

no bubble. no bubble in metals confirmed. plus it'll hurt the miners if it keeps dropping, assuring some scarcity over time. works for me.

[bastardchildofmary]

cool! now I can buy more for the same money before it goes crazy. long term fundamentals are the way to look at silver, nothing else in my opinion. More dips are great for buying!!!

[demensha23]

APMEX just increases the premiums..They know it will go up in price..Been through all this before in late 08 and early 09. Remember the shortage of bullion?

[MrColt45acp]

Hell Yeah, Silver is on it's way to $1,000.00 per ounce!!!

WOOOOO F**king HOOOOOO!!!!

I'm going to be a millionaire.

Gas might be $300.00 per gallon, and milk $500.00 per gallon, but who cares?

I'M GOING TO BE A MILLIONAIRE!!!

What? You said silver dropped in price?

uh-oh.

[exquisiteinvestment]

you are the man!~

[wsarris424]

I hope it does go down farther, I'm planning on buying the hell out of it already

[hiphopsocnroc]

@wsarris424 Buy while its still low, who knows how long it will stay this low, peace

[Kika2Lamonte]

who is this moron??

[drutter]

Great video Derek, 5 stars again!!

As for the coins in your hand being worth 22% less, maybe. In relation to garbage paper money, yes. But they haven't lost any intrinsic value as a metal, imo. In fact, the intrinsic metal value is always going up, as we find new uses for it, and the supply keeps shrinking!

This is the buying opportunity I was looking for. Early next week I'll be loading up. I think it will dip even more by then, which is awesome!

[dpla5762]

I don't understand why people would be willing to pay the crazy prices on ebay. I can go to several coin dealers within a few miles from my house and pay .70 over spot. People are paying 25 for a silver eagle on ebay. Boston bullion sells them for slightly over 16.

[return135]

i hope it goes down lower, so i can buy a lot more.

[Instrumentally]

Me too.

[donharlan1]

I think silver will continue down for the next several months giving those of us who are silver accumulators a great chance to dollar cost average in at lower prices. That said, I would advise anyone that is buying silver to have at least a years worth of cash to pay bills with in case you lose your job prior to over-weighting silver.

[drutter]

@donharlan1

You advice people to hold a year's worth of cash? Strongly disagree! Have a small amount of cash on hand, but never hold large amounts of cash like that! Invest in silver when it dips low like this, and THAT is your savings. It's a horrible time to be holding large amounts of paper.

[donharlan1]

And if you lose your job and only have silver with a little cash, then you will have to liquidate your silver at the current spot price. With unemployment still going up, cash will actually become scarce. Why do you think every time there is debt crisis the market and commodities tank? Because cash is king. Most people don't get that, but they will when they run out of cash.

[donharlan1]

When silver tanked in 08, APMEX increased there over-spot prices. For silver eagles, the over-spot was as high as $4.99 when silver was trading around $9/oz. Yesterday, APMEXs over-spot price was $1.99 and today it is $2.49.

[jonah70757]

Back to 2006 prices...for a little while

[BGBurch]

Something to worry about if you bought at the higher price. I still appreciate having something that's real. I look forward buying more soon.

[drutter]

@BGBurch

It's nothing to worry about unless you need to sell your silver now. If you were buying a few months ago to sell now for a profit, your strategy sucked imo! If you bought recently to hang on to for a year or more, that's good strategy, and you'll do well with it.

The metal hasn't lost any value at all. This is ETF dropping, not real metal. Your metal is worth more than it was a month ago, not less!

[BGBurch]

Yes, According to Ted Butler it's the COMEX that are pulling something off here for the reason for the lower price. Again the supply is limited but the demand is the highest January for Silver Eagles in 23 years - I sure hope the folks that have the paper products will demand delivery and then we'll see some real prices. Liquidation has taken place as well. I don't plan on selling anything until I absolutely have to for survival or a very very good reason. Thanks for the encouragement Drutter.

[xurbancampx]

Gah I just bought silver a week ago, and after that it made a huge decline :D bad luck with timing.

[LynxSteam]

Silver is down because those who are selling in the last couple of days hold this paper too. I seriously doubt thousands of people took their silver into coin shops selling like crazy. We are just flushing out the worthless paper speculation, making a silver rally all that much more likely.

[goodagofilms]

Your right about Silver and all comdaties. They need to spook the sheep to panic, and sell their stores.

[jnadreth]

The physical does not have a problem...its the paper Silver thats the issue. Thanx Derek...you have reassured me a lot about my investments over the past few months. Its people like yourself who allow us to prepare for the worst in the best possible way..for that I thank you :):):)

[Instrumentally]

@jnadreth Yea that's why it's still around 20 bucks for 1 oz piece on ebay right now.

[dpla5762]

I have no idea why its 20 on ebay. Don't people have local dealers. Check out boston bullion. Buy in person, don't pay shipping or these ridiculous prices.

[Instrumentally]

@dpla5762 That's what people value it at I guess. I don't buy on ebay unless it's a good deal or something I really want, I also use cashback and that most of the time covers my shipping cost. I don't buy locally here because we have a hefty sales tax here in Cali and were taxed to much as it is so I'd rather pay 5 in bucks in shipping rather than another tax.

[demensha23]

My local dealer had 2010 SE's for 19.30 today, and spotty coins for 16.30 Spot price in no way reflects the "real" price..Silver has done this before..Don't panic just yet. If you find a good deal BUY.

[WttrW2012]

paper vs physical?

more sold coins in jan. than in entire '95?

dollarrally? right -> 3.2. foreign bids on treasury 0!!!

dead cat bounce!

[GypsyHustled]

I read that the Mayans liked silver a lot more than gold.

[MORCOPOLO0817]

So did the vikings!