The Single Most Incredible Week in Gold and Silver

This past week in precious metals has been astounding. We experienced the biggest two day drop in the precious metals market in 30 years.

One curious item to note and think about is how the regulators were absent in halting the slide as they do in the stock market. A few hours to stop the panic selling would tell a different story. All this on a Sunday night when North America was sleeping.

Here are some quotes from this week:

Gold is the first victim of deleveraging, the sharp selloff is a sign of things to come in equities, as Europe fails to meet its debts it will sell its assets, this is the real opportunity in the market, buy as Europe sells.

- Shayne Heffernan HeffCap

Over the weekend, I warned of coming shortages; and they are already here. We are seeing shortages in silver rounds, silver maple leafs, and American silver Eagles. But when it comes to junk silver coins, there simply aren’t any available.

-Bill Haynes, CMI Gold and Silver

In that one chaotic hour when we saw a remarkable 155 tonnes of PAPER gold sold, Central banks stepped in and bought a remarkable 55 tonnes of PHYSICAL gold. And that is just what they bought here in London.

-Andrew Maguire

Gold and silver only have this type of selling when there are extreme shortages of the physical metal. I am totally aware that before this takedown occurred there was an imminent LBMA default.

-Andrew Maguire

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April 19, 2013 | View: 804 | Tags: precious, metals, silver, gold, investing, drop

The Single Most Incredible Week in Gold and Silver

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The Single Most Incredible Week in Gold and Silver

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