Silver Market Manipulators Are Desperate
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.
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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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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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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?
!BBH
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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.
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!
!PIMP
!BBH
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