Afternoon everyone…..
To hardcore stackers the spot price does not mean that much when it fluctuates a dollar or two one way or the other. Most stackers are waiting for history to repeat itself, and are waiting for the over $40 per ounce number.
The way the market has been getting beaten down, I mean the precious metal market. This is actually a good buying opportunity. The premiums are still very high, but they have come down on generic bars and rounds. American Silver Eagle premiums are still ultra stupid, but that’s what they can charge because people are still buying them.
In the last two weeks of trading silver has dropped over $2. It’s also taking a complete beating early in today’s trading. It has breached the $25 barrier, currently standing at $24.89. Which is down $.26 on the day.
It makes zero sense, but I’ve given up trying to analyze it anymore. The fiat printing press is working overtime, yet a tangible asset such as silver is going down in price.
That only means one thing……
Take a look at this chart from the bullion vault. Silver looks like it fell off a cliff.
