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The post, #13874, is a cut and paste from the Investors Paradise web site.
Today gold closed down $16.10 at $866.10 and silver closed down .45 at $16.68. So far this week gold is up $2.10 and silver is down .11.
In the 1st week of December the stock price was .016. It is currently .004. That is a 75% drop. I stop in after several weeks and what do I see? Why do you continue to pump this stock?
2-20-08---"Cheap shares are just about gone people!!! It will be above a penny by the end of next week, imo".
2-25-08---"Selling is over, imo. This week we should see it start to rise back up to over a penny. Easy money people"!!!
3-28-08---"Next week should be real interesting, imo".
4-11-08---"Healthnostics Inc. (HNSO) Turning the Corner, This Time With Volume"
4-11-08---"Watch today's close. I think it might hit a penny. Maybe we will see some nice news next week that will help move it back to where it was for the last year. .016 or higher"
4-14-08---"This one will be a huge gainer in the near future, imo".
4-16-08---"I think we are about to see this one come back very strong".
4-25-08---"Very nice volume today. I think tomorrow will be similar. Next week my fingers are crossed. I really think something big is in the works".
5-12-08--- "I think this might be the week we see some major price movement people. JMHO"
Today gold closed down $1.80 at $882.20 and silver closed up .34 at $17.13.
Sorry about the late response. I just got back from the club. I believe that gold will end up on the plus side before the end of the day. The US dollar is weakening against the euro today. The bullion banks have been trying very hard to hold the price of silver in check. They may have decided to let up for a while. Your guess is as good as mine.
Gold price gives huge boost to DRDGold's quarterly earnings
For the March quarter, DRDGold's EBITDA rose to R127.1 million (US$16.4 million) from R35.4 million ($4.6 million) in the December quarter. This was achieved despite production losses arising because of the Eskom power cuts in January, and a very sharp fall in grades at the old, and deep ERPM mine. Group CEO, John Sayers said it was estimated that, had it not been for the power cuts, the company's operations would have produced an additional 3,000oz - worth around another R21 million in revenues.
Today gold closed up $1.00 at $884.00 and silver closed down .04 at $16.79. For the week gold is up $28.40 and silver is up .43.
It looks like the paper players are running scared. The drop in gold and silver comes at a time when the US dollar is down against most major currencies including the euro.
In the 1st hour gold has dropped $15.10 and silver has dropped .50.
The NY metals market does it again. The price of silver dropped 20 cents in the 1st 15 minutes.
Today gold closed up $15.20 at $883.00 and silver closed up .23 at $16.83. So far this week gold is up $17.40 and silver is up .47.
Today gold closed down $7.80 at $867.80 and silver closed down .24 at $16.60. So far this week gold is up $12.20 and silver is up .24.
Today gold closed up $1.60 at $875.60 and silver closed up .15 at $16.84. So far this week gold is up $20.00 and silver is up .48.
After the NY market opened silver went down 11 cents in 7 minutes and 16 cents in 11 minutes. A bit later the price took off.
Today gold closed up $3.70 at $855.60 and silver closed up .21 at $16.36. For the week gold is down $30.40 and silver is down .48.
Silver has dropped a little over $5.00 from it's high of around $21.30. I would hope that that would be it. It has already dropped further than I thought it would.
In the last several years the most that I have seen silver go down is $1.58 in one day. The most it has gone up is $1.02.
The claim is that it is because of a rise in the US dollar. That will not last long.
After one hour the price of silver is down .58 from the opening.
In the 1st hour of trading the NY metals market has dropped gold by $8.90 and silver by .33.
Today gold closed up $5.90 at $876.60 and silver closed up .32 at $16.84.
I've been watching him on Fox News.
Boomer and I get along just fine but both of us have a hard time tolerating the US Government.
Today gold closed up $7.20 at $893.20 and silver closed up .15 at $16.99.
Today diesel is $4.67.
Atotalbum, the last time that I saw a diesel price here it was $4.39. Decades ago I remember when diesel was 1/2 the price of gas. I have no idea what could have made the price change so dramatically.
Bobby, my wife filled up our sons diesel VW in the London, England area and it cost $152.00 US.
Today gold closed down .60 at $886.00 and silver closed up .10 at $16.84. For the week gold is down $30.20 and silver is down $1.00.
Today gold closed down $17.30 at $886.60 and silver closed down .27 at $16.74. For the week gold is down $29.60 and silver is down $1.10.
I think that you are right Kevin. I feel much more relaxed as a long term investor.
Kevin, that has been the situation for years. It is almost as if the rest of the metals markets around the world do not count. When the US has a holiday Kitco does not recognize a closing price on that day but uses the price as a continuation of the NY market when the NY market opens.
This morning silver fell .40 in the 1st 10 minutes.
Today gold closed down .90 at $916.20 and silver closed up .09 at $17.51.
Kevin, the bottom should have been established for the current swing. There could be one more week with a tight range and then we should see the next leg up.
Good for you Kevin. The PM's have been a great opportunity to make a lot of money if you can call the swings. If you have been keeping weekly records you will find that the swings are not that hard to predict.
The last four weekly closing prices for silver:
3-28-08---$17.88
4-4-08----$17.74
4-11-08---$17.74
4-18-08---#17.84
Kiwisteve, before I reply to your post, my wife is a kiwi and will return home tomorrow after three weeks in Europe.
Alex Wallenwein doesn't really give a reason for the drop unless I missed it. He calls the reasons given by many others as hilarious and smoke and I agree. I believe that the reason that this takes place in NY nearly every time is that the Bullion Banks are struggling to keep the price down and get their money back from the paper players. Alex also states what I have been saying for a long time, we are in the middle of a supply crunch in silver that is only going to get worse. Following ia a line from the article:
"Until then, what happened today is no threat to your wealth if you are solidly invested in physical gold and silver".
Kevin, the last time there was a large drop in the price of silver it stabilized within a small range for about five weeks before continuing up. As you know, as a long term investor, I only take into consideration the weekly closing prices. This time the price went from $20.67 on 3-14-08 to $17.21 one week later, 3-21-08. Silver has been in a range of $17.74 to $17.88 for the past four weeks. That is only a 14 cent variable in four weeks. That is a great example of why I do not pay much attention to daily moves.
Crude oil prices jumped more in the past 24 hours than it cost 10 years ago.
This morning silver dropped 20 cents in 20 minutes immediately after the NY market opened.