• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

any explanation for today's jump in silver?

Started by delta,

24 posts in this topic

GoldFinger1969

GoldFinger1969

Posted
Posted
I'm sure many of you noticed silver was up today about 5%, a bit over a buck per ounce, to $21.56, any particular suggestions as to why?

 

Expectations that next week's FOMC minutes will confirm Fed Chairwoman Yellen's dovish comments today.

 

The slower the monetary taper, the better for precious metals.

 

Also, risk assets (stocks, high-yield bonds, emerging markets) have been in a week-long rally.

 

Last but not least, I was going to buy some silver tomorrow. So of course it rises beforehand. After I buy, it'll go back down. :grin:

Link to comment
Share on other sites
rmpsrpms

rmpsrpms

Posted
Posted

 

Last but not least, I was going to buy some silver tomorrow. So of course it rises beforehand. After I buy, it'll go back down. :grin:

 

That seems a bit arrogant. The real reason is that I sold on Wed...:wink:

Link to comment
Share on other sites
RWB

RWB

Posted
Posted

Spot markets on silver are largely speculative - they no longer connect to real commodities and meaningful business transactions. In a speculative market there does not need to be a rational reason for change.

Link to comment
Share on other sites
delta

delta

Posted
  • Author
Posted

That's what I've been wondering, if this jump was due to activity by even a single large entity, not connected with particular outside events, perhaps to be followed next week by a gradual slump in the market price, back to previous levels.

 

 

Spot markets on silver are largely speculative - they no longer connect to real commodities and meaningful business transactions. In a speculative market there does not need to be a rational reason for change.
Link to comment
Share on other sites
RWB

RWB

Posted
Posted

It could easily have occurred when a trader decided to boost their bid....not due to market factors but possibly a desire to artificially increase the value of inventory.

 

Most public commodity markets no longer relate to real goods and materials

 

Link to comment
Share on other sites
orifdoc

orifdoc

Posted
Posted

Since Jan 1, 2013, in a single day, silver has jumped more than 5% four times.

 

It's fallen 5% or more six times.

 

It's a volatile market, and like RWB says, moves are not always attributable to discoverable facts.

Link to comment
Share on other sites
RWB

RWB

Posted
Posted

After watching Ms. Pikus-Pace during several interviews yesterday, if I were an officer at any of the major media companies, I'd hire her right away!

Link to comment
Share on other sites
Raybo55

Raybo55

Posted
Posted
After watching Ms. Pikus-Pace during several interviews yesterday, if I were an officer at any of the major media companies, I'd hire her right away!

 

She's such a mope, I wish she would cheer up a bit.

Link to comment
Share on other sites
GoldFinger1969

GoldFinger1969

Posted
Posted
Spot markets on silver are largely speculative - they no longer connect to real commodities and meaningful business transactions. In a speculative market there does not need to be a rational reason for change.

 

In the short-term that is certainly true, and silver has become the plaything of small retail investors.

 

But over time, the commodity markets do reflect supply and demand.

Link to comment
Share on other sites
e1cnr

e1cnr

Posted
Posted
Spot markets on silver are largely speculative - they no longer connect to real commodities and meaningful business transactions. In a speculative market there does not need to be a rational reason for change.

 

In the short-term that is certainly true, and silver has become the plaything of small retail investors.

 

But over time, the commodity markets do reflect supply and demand.

 

 

I thought it was 4 or 5 very BIG banks

Link to comment
Share on other sites
RWB

RWB

Posted
Posted

"But over time, the commodity markets do reflect supply and demand."

 

Revised for accuracy: "But in the past, the commodity markets reflected supply and demand. Now they do not."

Link to comment
Share on other sites
jom

jom

Posted
Posted
"But over time, the commodity markets do reflect supply and demand."

 

Revised for accuracy: "But in the past, the commodity markets reflected supply and demand. Now they do not."

 

More accurate quote: "All markets go up...until they don't."

 

jom

Link to comment
Share on other sites
GoldFinger1969

GoldFinger1969

Posted
Posted
"But over time, the commodity markets do reflect supply and demand." Revised for accuracy: "But in the past, the commodity markets reflected supply and demand. Now they do not."

You don't think they are reflecting prices right now in a steady-state equilibrium ?

 

Where do you think the 'fair' price of gold and silver should be then ?

Link to comment
Share on other sites
GoldFinger1969

GoldFinger1969

Posted
Posted
Far more volatile than gold. Just stay tuned to kitco and Zero Hedge for explanations.

 

Zerohedge has some interesting posts from time-to-time but they also go off the deep end.

 

Remember, Tyler Durden is a composite name not a real person.

Link to comment
Share on other sites
Go to topic listing