No logical reason whatsoever, but I have a gut feeling that it's gonna bottom out at under TEN dollars.Not buying the Soros impact theory. Silver continues its plummet. Now trading below $35.00.
HA! If you are right, I'm gonna be a buying fool!No logical reason whatsoever, but I have a gut feeling that it's gonna bottom out at under TEN dollars.
I dont ever see $10 silver in my lifetime but I would love to see it...i would be a buying fool as well.HA! If you are right, I'm gonna be a buying fool!
I was listening to the radio the other day and someone (I think it may have been Glenn Beck) had mentioned that it was due to a change in the silver buying process. Before, a speculator could put up 20% and effectively take "possession" of the silver (on paper only). After that, they get the profits if the silver goes up or pay the difference if the silver goes down.
They've since changed it (according to the source of whoever it was I was listening to) so that the amount you have to put up is larger. This means that people were selling off large amounts of silver in order to put up the additional capitol needed to keep the rest of the silver.
I didn't research it to see if it was legit or not but it makes sense if it is. It also explains the freefall in silver as more of it is coming on the market as people are selling.