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Is Silver Starting to Plunge?

Started by MunkyMan95,

7 posts in this topic

MunkyMan95

MunkyMan95

Posted
Posted

Ok, so I go to kitco.com today to see the spot chart. I scroll down, and I see that black line plummet! What happened??? It's gone down $0.14 in the last 5 hours! At this rate, silver will be FREE by Christmas! AAH! Is this just a slow market day, or is silver really heading down already? Any thoughts would be appreciated. Thanks!

 

silver.gif

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TJ'S Coins

TJ'S Coins

Posted
Posted

These appear to be normal corrections in an otherwise impressive upswing in the past year. Many are writing that silver should continue to climb and narrow closer to its traditional ratio with gold. You can't judge the market by a one day swing. Many are also predicting that gold will continue an upward trend to at least $600 per ounce. That will be good for silver too.

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cladking

cladking

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Posted

Ignore short term moves in markets. This is especially true in silver because of its historic volatility.

 

Of course this means try to ignore about the last $2 in gains as well since it's not impossible they'll evaporate. If you're in it for the short term then these changes can be more disconcerting but they'll happen in any case.

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