HonestMoneyGoldSilver

There's a reason why it keeps bouncing off $32 and change

The 14 day 70% RSI is right around that level and we saw what happened last week (it went to $32.63 then reversed to just above $30)

Still a way to go to book $30, don't get carried away. The 1-month low is sitting at $26.05 and we need that to be $30+, which requires consolidation. As is my usual mantra, slow but steady. Getting hotter than $32.50 or breaking the yearly high of $32.63 is likely to result in a reversal until after we consolidate

3 minutes ago, Thelonerangershorse said:

?? I don't see anything wrong with Krugs per se, I'm just biased because of the CGT problem.

Same colour as modern sovs (916.7 gold) with none of the charm of CGT-exemption. The others are all 999+ and have the classic colour of, you know, gold.

I was going to suggest "aggressive tubing" but Jimbo is here and might get overly excited by the description

Maybe someone got their coins stuck in a tube and shook them violently to get them to release?

Perth Mint Kookaburras are pretty spectacular in 1/10th. It's almost like Perth Mint have quality controls and care about the product they give to consumers. They only do fractional in Kookaburras so the design is best suited to those smaller coins. Many of the other popular designs are primarily produced for larger coins (1oz, 1/2oz) and condensed to fit on 1/4 and 1/10

Here's a good comparison site for the premiums on various 1/10ths

Tenth Ounce Gold Coins - Buy 1/10oz Gold Coins | BullionByPost

14 minutes ago, Roy said:

Look at that chart @Gruff,

A £4.80 / Oz low/high this month.

Is that the definition of volatility?

Silver is behaving like crypto 😂

The average daily volatility for BTC in the past few years is roughly 4% although this has lessened in recent months and is now closer to 3% than 4%. Today we're currently +4.65% in silver in USD and +4.29% in GBP

It really is unusual what's been happening with metals in the past year. It used to be that a price alert would go off if metals moved 5% in a month, now we're getting used to +/- 5% in a day. Is this meme investing? If you know you know:

It's up more in USD as GBP is strengthening, currently sitting right at the top of the bands (Bollinger/Keitner Channels) at $1.275. It's weird that GBP is appreciating with the backdrop of the GE and the utter freakshow our country is fast becoming. Maybe the assumption is the UK is deteriorating more slowly than the USA, which is a probably a fair assessment, but not filling anyone with confidence. One might argue a pre-Brexit (2016 vote) exchange rate in the region of 1.50-1.65 is a possibility, but then again so is parity, and analysts are split on where it will end up. Makes a big difference to our gold and silver prices in the UK

GBP to USD | British Pound Advanced Charting - WSJ

2 minutes ago, Thelonerangershorse said:

If this is from Endor where are the Ewoks?

I'd explain but your attention span can't handle it 🤷‍♂️

The latest TA from YouTube on silver:

£62 to get the ball rolling   end this auction

Protestant heaven

£97

£88 💪🤗

44 minutes ago, Roy said:

Is that because house prices are too expensive, wages are too low, or a combination of both?

It's because of mass migration, like every other problem in our country. That's why nobody can get a house, especially the British people on benefits, and why the wages are too low. Deport 5-7 million people from MENAPT countries and all of the UK's problems are solved overnight

Silver though, massive result. Booked another weekly close above $30. Next target is close May above $30 then add 3 more weeks to fully establish $30 as the new floor over the summer. That's roughly £23.57 for those who don't like dollars

9 minutes ago, Gypsy said:

Dragon and Yale please

7 minutes ago, Metal237 said:

The remaining QBs please

Just now, johnthebeard said:

All beasts sold pending payment 

😢

Great price on the QBs, congrats to the lucky buyers!

Welcome, you are in the right place

10 minutes ago, wilky1 said:

Gas engineer, plumber apprenticeship then worked with the future father inlaw building and ended up pretty much doing all trades except sparks, but you try and get a kid that's just left school to listen let along learn anything.....they just don't have the skills to do so its all an inbuilt entitlement mentality. 

Only ones who want to do well are immigrants who will do 12hrs work in 8hrs.

I'm not sure many of us know what we want to do at 18

If all of their friends are going to university to drink, take drugs and fornicate study for 4 years with loans, overdrafts, credit cards and the bank of mum and dad, then they are going to do it too. We have been indoctrinated that if you don't go to university you are wasting your life. Back in the 70s about 5% of people went to university and they were in high demand for professional jobs when they graduated. Today it's closer to 67% who go to uni and nobody wants to give them a job when they graduate, especially not if they have degrees in David Beckham Studies or Queer Musicology (these are real UK degrees btw)

What they should do is take those loans, ditch the classes and go buy silver 😁

To keep us remotely on track, we're flirting with $30 right now (£23.75) which is no bueno. Let's hope we close the week above $30 to book that back-to-back. Losing $30 isn't the end of the world but if it starts to edge towards $29, it would give off serious bearish signals

Hello there weary traveller. Welcome to the Hotel California The Silver Forum

Buy like there's no tomorrow

I'm expecting a dip this summer unless the Fed cuts in July. Without a rate cut we should expect the typical seasonality in metals. I will consider it a huge success if gold maintains $2300 from now until September. If silver holds $30 until September I will throw a party

Nothing rallies in a straight line. Corrections are not just to be expected but healthy. The key is we set new ATHs in gold and silver and held close to the ATH for a while, we did it twice, the current run up and the previous one in April. The 3rd time's a charm and I anticipate this will be in September. The low in September could perhaps be the low point for metals for the rest of our lifetimes. If that low is $2300 in gold and $30 in silver, anyone already stacking is gonna be a big winner.

14 minutes ago, BackyardBullion said:

Let's all not forget that this is against a backdrop of the executive team earning big bucks.

£378k for Anne Jessop.

 

Are you sure "earning" is the verb you meant to use?

It will be negligible either way in terms of global metal prices

The Asia-Pacific region is currently responsible for 55%+ and growing of the total global trade in precious metals

The UK demand dynamic has the power to move the price in % terms in low single digits. If we went on a monster buying spree or re-elected Gordon Brown, this would effect prices in the short term but not enough to be a consistent driver of global markets

In domestic terms, however, destroying or boosting sterling could make a massive difference to UK citizens and businesses in the metals trade

If we all get poorer under the new PM, all else being equal, that would reduce premiums on everything other than fractional

From a UK perspective the issues are FOREX in terms of global spot and then premiums when it comes to us actually buying physical. How that will shake out is too complex for me to be able to accurately predict but I get the feeling it will work out to be neutral.

If they destroy the economy and sterling, making us all poorer, premiums would go down, however, this would encourage more people to buy metals which would push the premiums back up again. So neutral is my guess. The big one is FOREX. A significant dip in GBP will make gold a lot more expensive for us to buy but will make those currently holding gold in the UK wealthier relative to the rest of the population, as happened during Liz Truss' brief tenure. 

Ah we're still good on silver. A close above $31 is bullish. A close above $30 is still acceptable. It's currently $31.03 even after the dip today

If we get out of the summer above $30 it's a massive win. In irrelevant Brit tokens that's £23.50, give or take

1 minute ago, timsk said:

In short, the RM show little short of complete contempt for their customers and have completely lost my respect and confidence; I won't be buying anything more from them ever again

This is the general response RM gets from customers and they remain obstinate, oblivious to criticism

1 hour ago, Baldasaneagle said:

Hello, 

Newish to stacking but have been lurking here but hoping you all can explain something. I see on some websites that products are listed as "pre-order" or "pre-sale", usually on third party websites but sometimes on the manufacturers website as well (like The Royal Mint). I don't get it - I can buy the product based on the metal price at the time of transaction so what is "pre" about it? Is it just that shipping is slightly delayed as they haven't got stock in yet? Why don't they just say that.  Can someone explain - whats the point?!

One reason is so that people can secure the items they want. Another reason is "scalpers". They will pre-order items they believe will have high demand in the hope these items will become sold out upon release. They'll then go on 3rd party sites like eBay and sell the items at high mark-ups. It's the coin collecting equivalent of PlayStations and Xboxes. Not without risk as you can buy a bunch of items that don't end up being popular

It's the same with lots of items these days, pre-order to secure yours in case demand is high upon release and you're unable to buy it. It's particularly important when it comes to collecting items in a series or new releases that you intend to start collecting