Silver dropped .70 in about 15 minutes after the Nikkei opened and now it has come back to only down .12. Gold is making a similar move. If there are no margin calls out of Europe and forced selling we may get a nice squeeze tomorrow.
The carnage has just begun. It's going to be a wild ride as I indicated yesterday. By the time it's over we're below 20, if not below 18. And that's assuming no equity crash. It that occurs all bets are off, you could even see 12 again.
dave, where you getting that price figure? On bloomberg metals, I see Gold down $39 and Silver down 1.14...I see SLV under $21 tomorrow. I will get a forced sell under $20. I am cutting it really tight now.