Metals are getting hammered today. Sliver has dropped 20% in the last week. Dollar still falling, interest rates still falling, long term bonds falling. Very weird.
Glen Beck said that people who have not yet invested in gold or silver should watch the market. He said that there would be a sharp drop before the collapse of the dollar and that was the time to jump into the market, because after that, the dollar would collapse and the gold and silver would start moving back up.
It's actually even weirder, long term bonds have been rising sharply with the dollar falling. We don't want your currency but we really want your bonds backed by that same currency?
Silver getting destroyed. Down to $35/oz today after last week’s high of $49.
That’s a 28% drop in one week!
“The exchange has announced five margin increases in the past two weeks.”
“The minimum amount of cash that must be deposited when borrowing from brokers to open new positions will rise to $21,600 per contract after May 9, CME Group Ltd., Comex’s owner, said yesterday. That’s up from $11,745 two weeks ago. Open interest in futures has tumbled about 15 percent since the exchange began raising margin requirements on April 25.”
Article here: