by Mark O’Byrne, GoldCore: – Silver prices ‘flash crash’ before rebound – Silver hammered 7% lower in less than minute in Asian trading – Silver fell from $16 to $14.82, before recovering to $15.89 – Silver plunge blamed on another ‘trading error’ – Gold similar ‘flash crash’ last week and similar recovery – Hallmarks of market manipulation as $450 million worth of silver futures sold in minute – Trading ‘errors’ always push gold and silver lower. Why never higher? – ‘Flash crashes’ increasingly frequent in precious metals, yet rarely happen in stocks and bonds – Rapid recovery from frequent raids bodes well for precious metals – Silver coins and bars accumulated on dips by ‘stackers’
Silver prices got a bit of a jolt this morning when spot silver had yet another so called ‘flash crash’ and fell by between 7% and 10% before recovering and bouncing sharply higher to not far below where the attack on the price began.
In a repeat of what happened to gold last week, a bout of massive selling hammered silver prices lower momentarily. Having hit an early session high of $16.18/oz, the spot silver price fell from $16 to as $14.82 in less than a minute. The price recovered as quickly as it crashed, rebounding to $15.89/oz.