Originally Posted by mikeman
Holy shit! Silver down 5 bucks!
That is amazing! A 10% drop from Friday close to today's international market opening.
You do realize this loss ( drop ) is as of now (6:16 PM ) on the world spot price market, and in all probability it will recover most of the loss when the NY spot market opens and closes tomorrow.
A corresponding 10% drop in gold would be $150!!!!!!
Here is Kitco.com prices.
It will be changing but Silver has already recovered to a 9.17% loss in the few minutes that I have been posting.
Also, as iamatt points out ( not in Gold and Silver, but in investing in general ), there is a huge difference in trading and investing. If you are worried about daily, or hourly % changes in precious metals you are a trader. If you hold for a while ( whether in physical form, ETF, or whatever ), you are an investor and should only worry about your average basis of acquisition, and your exit strategy.
BTW: Silver has recovered a little more to a 8.74% drop as I end this post. If you watch changes hourly or less you will go nuts. Or why not just learn day trading.What goes up must come down.
Or so they say. Silver is probably solid but no way will it match the last 12 months gain of approx. 150%.