Gold, Silver Futures Slump in New York as Dollar Strengthens Against Euro | SILVER SHORTAGE

Wednesday, May 11, 2011

Gold, Silver Futures Slump in New York as Dollar Strengthens Against Euro

Another bad day today for the precious metals , The price of silver losing a further 8%, gold sinking back to the $ 1,500 level. The prices of silver and gold have recorded significant losses today. The CME Group the company that manages the NYMEX (New York Mercantile Exchange), has announced two further increases of the initial deposit required to secure transactions on the futures on silver. The news sparked a new shower of precious metals sales. The expiring July futures on silver at the NYMEX closed in fall of 8% to $ 36.24 an ounce. It was the strongest drop in session since December 2008. Since last Friday the price of silver has lost 25.4%. The gold futures expiring in June ended in a fall of 2.2% to $ 1,481.40 an ounce. It's been three weeks that the gold price did not close at these levels. To add to downward pressure on the precious metal was now also the strong recovery of the dollar. The greenback has appreciated against the euro by about 2%. The jump in the dollar weighed on all commodities in general.

MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

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Silver is a vital commodity to our way of life. Silver is a precious metal that is being trashed as an industrial metal. As a result, it is within years of becoming the first metal to become extinct according to the USGS. At some point the shortage is going to become so obvious, that people are going to rush to turn in their depreciating dollars for real silver money. That is just the monetary demand of silver, the industrial and strategic demand is another huge factor we should consider.Silver is a precious metal a monetary metal and an industrial metal, Industry alone requires over 900 million ounces each year , Silver has antibiotic antibacterial anti fungal and anti microbial properties . Silver is used in Dentistry Photography electronics Mirrors optics Medicine and in clothing , Silver is the best thermal conductor of all metals and The Best Electrical Conductor ,Silver is also an important catalyst in chemical processing.As far as getting it out of the ground, that will take energy which seems to be only getting more expensive,China is now the world’s third largest silver miner after Mexico and Peru, and the world’s largest Silver refiner,Get in on the bonanza and get your physical silver today while it is still available at a affordable price. In the next few years you may loose your ability to get in on one of the greatest investments that will protect your financial security when the dollar implodes and economic chaos appears in your area - you will be happy you did .USA geologist society have predicted that Silver will be the first element of the periodic table to run out by 2020. Physical silver outperformed the mining stocks by 4 times during the last bull market .Only about 2% of COMEX silver contracts are actually settled by physical delivery, and the rest are settled for cash or rolled over , Decades of market manipulation has made silver the most underpriced commodity in history Be thankful that you have realized this in time to capitalize.JPM and HSBC are behind the Big Silver Short.Get yourself some physical silver and take possession if you want any certainty of cashing in before the paper silver derivatives become worthless.The COMEX does not have the 103 million ounces they claim to have.