Gold and Silver have been selling off hard since Friday with Gold well below $1,400 and Silver trading below $24.
There are a variety of theories as to what has triggered the massive sell-off:
• Forced Selling of Gold in the Euro Zone
• Optimism Over the US Recovery
• A Break in Technical Trading Levels
• Forced Liquidation by a Major Bank
• Manipulation by the Fed to Discredit Competing Currencies
• A Macro Signal that a Deflationary Collapse is Coming
ZeroHedge has been doing some great reporting, with an especially good article from ZeroHedge contributor George Washington. It rounds up the possible reasons for such intense selling and the opinions of all the various gold and silver gurus: Why is Gold Crashing?
The community over at TF Metals Report will also keep you updated throughout the day, with robust discussion and valuable contributions from some of the friendliest gold and silver bugs found on any gold and silver blog. Follow discussion in each daily thread, posted by the big, yellow hat wearing precious metal blog-master himself: Turd Ferguson.
Regardless of the reason that gold and silver are down, dealer inventories are rapidly declining and premiums on gold and silver bullion for the retail investor are rising. Reports that many online gold and silver dealers are not able to sell, or have run out of inventory altogether are flowing. In other words, it is paper gold and silver in the spot and futures markets that are selling, not necessarily physical gold bullion or silver bullion. Physical dealers are seeing record sales, as coins, rounds and bars are flying out the door.
Watch Spot Gold and Silver Price Live Charts:
Additional Gold and Silver Resources
If you are looking to track the spot price of gold or current silver spot prices, PMBull has you covered with our live price charts, linked above, or accessible from the tabs at the top of the site. If you are looking to follow news updates and opinion pieces, check out updates from Google News, ZeroHedge, the ultra-bullish King World News and the silver specialty site, Silver Doctors, with article summaries and links in PMBull’s Gold and Silver News Feeds.
Let us know what you think about the current collapse in gold and silver prices? Is it a buying opportunity? Will you buy, and if you are waiting, what is the right price or time to buy? Weigh in with your opinions in the comments below.