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Silver has well and truly broken down but the volatility in precious metals at the moment is off the charts. Silver is going through some wild swings, which can make for good trading as long as you are on the right side of those swings.

Hard to know where silver is going in the short term. I keep waiting for it to bounce back but the bearish mood at the moment is keeping a lid on things. Too many sellers right now and many buyers are on the sidelines waiting to see where things go. The US$26.50 area is proving to be good support and if that failed I could see silver going back towards US25, but I'm not convinced that it will get back there. My gut feeling is some larger players are buying heavily at current levels. I'm thinking mints and industry are probably taking advantage of the softer prices and securing the supply they need. The silver supply deficit is still very real and I feel it will limit the downside from here.

<blockquote data-quote="greggles" data-source="post: 1291911" data-attributes="member: 94">Silver has well and truly broken down but the volatility in precious metals at the moment is off the charts. Silver is going through some wild swings, which can make for good trading as long as you are on the right side of those swings.Hard to know where silver is going in the short term. I keep waiting for it to bounce back but the bearish mood at the moment is keeping a lid on things. Too many sellers right now and many buyers are on the sidelines waiting to see where things go. The US$26.50 area is proving to be good support and if that failed I could see silver going back towards US25, but I&#039;m not convinced that it will get back there. My gut feeling is some larger players are buying heavily at current levels. I&#039;m thinking mints and industry are probably taking advantage of the softer prices and securing the supply they need. The silver supply deficit is still very real and I feel it will limit the downside from here.</blockquote>

[QUOTE="greggles, post: 1291911, member: 94"] Silver has well and truly broken down but the volatility in precious metals at the moment is off the charts. Silver is going through some wild swings, which can make for good trading as long as you are on the right side of those swings. Hard to know where silver is going in the short term. I keep waiting for it to bounce back but the bearish mood at the moment is keeping a lid on things. Too many sellers right now and many buyers are on the sidelines waiting to see where things go. The US$26.50 area is proving to be good support and if that failed I could see silver going back towards US25, but I'm not convinced that it will get back there. My gut feeling is some larger players are buying heavily at current levels. I'm thinking mints and industry are probably taking advantage of the softer prices and securing the supply they need. The silver supply deficit is still very real and I feel it will limit the downside from here. [/QUOTE]

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