gonna call marcus on monday morning
question: someone mentioned they are selling generic silver bar, but from their website, it seems like they are selling PAMP SUISSE too?

This post has been edited by property101: Sep 24 2011, 05:28 AM

Gold Drops; Silver Falls Off a Cliff
By, DARYL MONTGOMERY
Sep 23, 2011

Silver prices collapsed on Friday, dropping by more than 17% at one point. Gold was also down by more than $100 an ounce at its low. A short-term rally should be expected soon, but there is now a certain amount of technical damage that needs to be worked off in the charts. Prices can still go lower.

The silver market had a major crash on Friday -- there is simply no other way to put it. Spot prices were down as much as 17.1% or $6.18 an ounce. Gold was damaged as well, but not nearly as much. At its worst, it was down 6.3% or $108.60 an ounce. Both gold and silver traded below previous lows set earlier this year.

The drop in silver was truly spectacular. It was down by double digit amounts on Thursday and then by an even greater amount today. The main silver ETF, SLV, has two huge gaps on its chart. The spot price low of $29.76 reached an area of major support. There is chart support, moving average support and a Fibonacci retracement at that level. A tradable bounce should take place soon and the gap in the chart from today is likely to be covered in that move. Those with a longer-term investing horizon might want to wait before buying. The next level to keep an eye on is around $26 where there is chart support and another Fibonacci retracement.
The silver selloff is much more advanced than is the one for gold. Silver peaked in April and had its first big selloff in May. It made a double bottom in May and July and didn't trade below those levels until today. Gold on the other hand made a double top in mid-August and early September. It confirmed that double top today by trading below its August low. Spot gold fell to $1628.60 an ounce at its worst point, breaking its support in the lower 1700s by quite a bit.

The precious metals charts are showing technical damage, with silver in much worse shape than gold. Gold broke its 50-day simple moving average yesterday for the first time since June. Today, silver pierced its 325-day simple moving average -- an important support level for any commodity. The DMI technical indicator gave a sell signal for SLV on the daily charts today and was about to do so for the major gold ETF, GLD. In the short term, both are very oversold however.

The huge price drops in silver and gold can only be explained by substantial hedge fund selling that smacks of credit crisis panic. Both of these markets have risen on highly leveraged buying. Once a few overextended funds are forced to sell because of the financial turmoil in Europe, things can go downhill pretty fast. Stops get taken out and this causes more selling, which in turn takes out more stops and leads to more selling. After this, a rally will follow and there should be a test of the low. If it holds, then a sustainable rally can take place. We are not nearly at the point yet.

source: http://www.etfguide.com/research/662/23/Go...ls-Off-a-Cliff/

boss, i talked to marcus, can bank in to lock down price. he will give u info on the bank acc

yup! i'm in!

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Added on September 26, 2011, 1:48 pm@3think, any prediction of how hard the fall?

if it breaks the 26 resistant level, whats the next number?

This post has been edited by property101: Sep 26 2011, 01:49 PM

mysmartgold are selling hong kong (no cert) and indonesia (with cert) silver bar now because Pamp Suisse is always out of stock.

what do u think about their hong kong and indonesia silver bar?

dead cat bounce now?

1stopgold no longer want to pick up call it seems...

This post has been edited by property101: Sep 27 2011, 09:30 AM

be frank i found 1stopgold is not pleasant to deal with - after buying 3 bars from them.
i got attracted to them initially because they provide among the lowest spread and their bars are reputable with certificate.
unfortunately the dealing experience with them is so unpleasant that i do not find exciting to deal with them anymore.

i have now switch to mysmartgold. at this stage of dealing, i find it more than acceptable, lets call it satisfied to deal with mysmartgold.

could you please enlighten us how do u see wave 4?

these 2 days US silver market seems to be quiet?
most of the movement happen during asia trading time?

This post has been edited by property101: Sep 28 2011, 07:39 AM

anyone has directly buying from Oneasia Gold Mint? their office is in klang
they seem to have their own mintage with 3 characters OGM on the bar.

This post has been edited by property101: Sep 28 2011, 11:46 AM

ok, my guess 30.23
i wan ASE too, hantam only la

is there a Like button for this?

This post has been edited by property101: Sep 30 2011, 07:15 PM

i hope bigwolf (26.82) would win

actually how does one thread can be qualified to open V2?

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Added on September 30, 2011, 8:16 pmagree
but...just hope mah

This post has been edited by property101: Sep 30 2011, 08:16 PM