HonestMoneyGoldSilver

The minimum expectation of the previous generations (anyone currently aged 50 or older) is to retire aged 60-65 with zero mortgage or debts, to be able to spend the rest of their lives on a cruise ship or enjoy foreign holidays. For wealthier professionals and savvy investors or frugal workers, they would also expect enough money to guarantee their children be able to do the same without ever having to work. Those are reasonable expectations for those generations The aspirations of the current generation are to be able to afford rent and groceries if they work every day until they die at the new retirement age of 75 It's the young people who most desperately need to buy gold, silver and ::cough:: crypto with their spare change, but they are the ones least able to do so. The cost of education, healthcare and housing is extortionate compared to 30 years ago. The cost of everything is on a different planet to when I was a kid.

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

IDK your situation but on the face of it you sound quite blessed. You have houses, land, livestock, perhaps even a vegetable or two. Most importantly you have a family I think you will hit your debt-free target sooner than you think if all you need is for gold to hit £2,133. That target is more than attainable this year. Major voices who aren't particularly keen on metals - like Goldman Sachs - gave an end of year target of $2700, which is roughly £2,122 in terms of gold spot. That was before the recent boom so perhaps their new estimates will be in excess of $2700 Goldman Sachs gave $30+ as their end of year price target for silver before the recent boom. We've already surpassed that before rate cuts and before the seasonal good times for metals in Sept-Nov. We should be in a consolidation phase for metals in terms of seasonality but we keep going up. If we remain above $30 in silver and above $2300 in gold before we get to Sept, I'll be shocked if you don't meet your target this year for gold. Silver reaching £49.74 will maybe be a thing in 2025/26

And yet somehow it doesn't sound as divorced from reality as half the stuff Dave just said I don't get the stipulation that every investment has to make you "rich" to be a successful investment. Warren Buffett made his fortune by compounding 20% returns over 50 odd years (1965-today). The market itself averaged a 10% return so all Buffett did was outperform the market by 10% or double the annual returns Have precious metals made more than the market this year, more than 10%? I believe yes, they have. If you keep investing and keep making twice the average market return, a few decades from now you will also be wealthy. Metals are not a get rich quick scheme, they are insurance and preservation of wealth As for the concept that you can buy something, add zero productive work or benefit to society, and walk out the other side with enough money to retire, well, there is so much wrong with that I barely know where to begin. Try scaling that up over a country or the planet like these braindead crypto shills keep saying. Everybody's getting rich doing zero productive work, oh OK, so who's ya know, doing the work? Last I checked you can't eat crypto or live in a crypto house. Not saying you shouldn't invest in crypto or that it won't make you money, but it's fairly obvious there is a fundamental limit to how many freeloaders the planet can handle before we starve.

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

you guys are getting coins? I got a horse's head!

Well on the plus side I see you bought coins with the patented Royal Mint security feature - Milk spots ®️™️ - to guarantee their authenticity I have all of these coins and yours look legit Expectations on quality? Ah, I quite like the Noah's Ark. The only thing I dislike about mine is some of them have milk spots. Otherwise they are a nice coin for the price point (if you buy on TSF). Made by Geiger Edelmetalle (Germany) and are decent bullion IMHO. They sell for high prices on dealer websites As for Goddess Europa and Bull & Bear, these are made by Bulmint (Bulgaria). They are more than acceptable if perhaps not as high quality as some other mints. These also sell for high prices on dealer websites/eBay. I've bought several tubes of these and while they were great when received, all of them milked to some extent The Somalian Wildlife coin is made by Bayer Mint (Munich) and this series is considered to be above average bullion. Your coin looks to be in below average condition though with toning and milking. I would hope the condition was accurately described with words and pictures Whether or not they are "mint new" shouldn't affect their definition. An old silver coin should have the same definition as a new silver coin provided it hasn't been handled, mistreated or stored incorrectly We learn on our coin collecting journey. As you buy more coins you'll discover which mints/coins you personally rate and which ones you don't like If you want wow factor coins you have to buy proof versions (expensive) or buy premium bullion like Perth Mint, RAM, Germania, KOMSCO, Le Grand Mint, etc The best advice is to buy from this forum

It's been a pleasant surprise to everybody then that silver didn't get smacked down today? There's been lots of selling, lots of dips, heavy selling started around $29.15. Silver has taken everything on the chin and continued to march forward. Almost surreal We're close to the limit (£25.40/$32.30) of what it will take for today IMHO My hope is for consolidation. Closing above $31 today and holding above $30 until July would be a perfect scenario, give us our sea legs for the voyage to the moon in Sept-Dec 2024 and all of 2025

I'm not trying to day trade I just want a general idea of what the price is likely to do If you were trading paper with your own money or professionally you would build a model that incorporates every conceivable variable including longs/shorts and every other data point you can get your hands on. These days you'd use AI to build a bot or use a proprietary in-house bot/algo For me buying physical and not looking to sell, the macro picture is more important than TA or short-term swings. It's just a bit of fun really

It got some of those figures wrong and is matching different datasets in an inappropriate manner. It's using the silver futures price (SIN4, $31.775) as the current silver price as opposed to the current spot price ($31.46 or the price shown below of $31.43, different exchanges, different delivery times, different prices). I believe it also picked the wrong 1st Resistance point. The general magnitude of movements are correct for our purposes though and it seems to have picked the correct middle and top points in both directions based on below. It was my fault by mis-specifying or not specifying the different data sets in the model. If you want to try your hand at TA yourself then reference these: XAGUSD - Silver Forex Trader's Cheat Sheet - Barchart.com Silver: Technical Analysis Chart | | XAGUSD | MarketScreener Silver Futures Technical Analysis - Investing.com Technical Analysis of Silver Futures (COMEX:SI1!) — TradingView https://chatgpt.com/auth/login

Continued Bullish Momentum: In case of a continued bullish trend, the price could be expected to rise based on key resistance levels and the recent trend in price movement. Resistance Levels: The pivot point and resistance levels indicated: First resistance: around 31.82 USD (pivot point resistance). Second resistance: around 32.876 USD (pivot point 2nd level resistance). Third resistance: around 34.211 USD (pivot point 3rd level resistance). Recent Price Action: The current price of silver is approximately 31.775 USD. Given the strong bullish momentum indicated by multiple technical indicators, a reasonable target for continued bullish momentum might be the first significant resistance level around 32.876 USD, representing an increase of approximately 1.10 USD (or about 3.5% from the current price). Potential Price Rise Estimate: Conservative Estimate: Rise to 32.876 USD. Optimistic Estimate: If the bullish momentum is very strong, reaching the second resistance around 34.211 USD could be possible, representing a rise of about 2.44 USD (or approximately 7.7% from the current price). Pullback/Consolidation: In case of a pullback or consolidation, the price might fall towards key support levels: Support Levels: The support levels indicated: First support: around 30.819 USD (price 1 standard deviation support). Second support: around 30.097 USD (pivot point 1st support point). Third support: around 29.577 USD (previous close). Potential Price Fall Estimate: Conservative Estimate: Fall to 30.819 USD, representing a decrease of approximately 0.956 USD (or about 3.0% from the current price). Pessimistic Estimate: If the pullback is stronger, the price might fall to the second support around 30.097 USD, representing a decrease of about 1.678 USD (or approximately 5.3% from the current price). Summary: If bullish momentum continues: Conservative estimate: Rise to 32.876 USD (about 3.5% increase). Optimistic estimate: Rise to 34.211 USD (about 7.7% increase). If a pullback occurs: Conservative estimate: Fall to 30.819 USD (about 3.0% decrease). Pessimistic estimate: Fall to 30.097 USD (about 5.3% decrease).

Like triple cooked chips

That's roughly what I paid for mine including capsules and SD when spot was £20ish GLWS!

I agree - Orange Men are never bad 😁 If anything it's Biden that's causing gold to spike - $4 trillion of mostly insane economic stimulus packages, the complete breakdown of law and order, mass migration, ecological disasters and two major global conflicts Trump is a factor but not a complete disaster for America like Biden. My favourite Biden quote, "I don't care if you think I'm Satan reincarnate". Just as well mate! The biggest catalyst will be if Trump DOESN'T get elected or gets silenced by politically-motivated and corrupt legal proceedings. Some think if Trump is denied his 2nd term against the wishes of the majority of the population, there will be civil war If Trump enacts even half of his election pledges (he tried to follow all of them during his 1st term), that will be bad for gold as America will cease becoming such a basket case

This is just as likely to be on the instruction of the Ayatollah as Mossad or a technical error. Old Khomeini has a thing for upgrading officials if they give him lip. Helicopters are pretty notorious though, Colin McCrae, Kobe Bryant, etc

Read the TL:DR! 70-80% chance of it going up with 20-30% chance of it going down Given market dynamics it might be better to take that over a weekly view rather than just focussed on Monday, as we know metals are more likely to consolidate/pullback at the start of the week and go up towards the end of the week. I didn't ask the model to consider the weekly seasonality but we can see from the charts that sell-offs on Monday are a thing after a major rise wed-friday of the proceeding week.

DISCALIMER: This is not just any BS, this is M&S BS TL:DR - Final Probability of silver price action on Monday: Probability of Silver Going Up: High (70-80%). Probability of a Pullback/Consolidation: Moderate (20-30%). If you haven't tried the new GTP-4o yet, you should check it out. It can access the internet and analyse uploaded charts and documents. I uploaded these charts below and asked for the probability of whether silver is going up or down on Monday. GPT before the latest iteration was already one of the finest technical analysts in the world (GPT 3.5/4). The new model is definitely an upgrade. Many traders and investment houses are using similar models or even GPT itself to ask the same questions, so, without further ado, here's a monster TL:DR filled with graphs and AI generated content 😂 Based on the provided charts and technical indicators, it appears that silver has a strong bullish momentum. Here’s a detailed analysis: Technical Indicators: RSI (14): The RSI value is 88.445, which indicates that silver is in the overbought territory. This suggests strong buying pressure but also indicates a potential for a short-term pullback. Stochastic (9,6): The stochastic oscillator is at 78.41, which also suggests overbought conditions. Stochastic (14,3): At 100, it’s highly overbought, reinforcing the possibility of a pullback. MACD (12,26): The MACD is at 0.463, indicating a bullish crossover, which is a positive sign for upward momentum. ADX (14): At 72.591, the ADX indicates a very strong trend, likely upward given the current price movements. Williams %R: At -3.778, it is in the overbought region. CCI (14): The CCI is at 130.8463, which is also overbought. ATR (14): At 0.2545, this indicates high volatility. Ultimate Oscillator: At 78.067, this is in the overbought range. ROC: At 5.981, this shows positive momentum. Bull/Bear Power (13): At 1.508, it indicates more bullish power. Moving Averages: All the simple and exponential moving averages (MA5, MA10, MA20, MA50, MA100, MA200) indicate a "Buy" signal, suggesting that the price is above these averages, which is a strong bullish indicator. Pivot Points: The current price is above the pivot point levels, and the resistance levels are higher, indicating a bullish trend. Technical Analysis Summary: Short Term, Mid Term, and Long Term Trends: All are bullish. Resistance and Support Levels: Resistance: 29.76 (short and mid-term), 29.99 (long-term). Support: 27.46 (short-term), 26.34 (mid-term), 21.59 (long-term). The spread between current prices and resistance/support levels suggests significant room for price movement, especially upwards. Chart Analysis: The chart shows a strong upward movement with the price currently at 31.49. The RSI is also in the overbought territory, reinforcing strong buying momentum but also cautioning about potential corrections. Summary: Strong Buy Indicators: The majority of technical indicators and moving averages point to a continued bullish trend. Overbought Conditions: Multiple indicators in the overbought zone suggest the possibility of a pullback or consolidation. Probability Analysis: Given the strong bullish indicators across multiple technical metrics and the consistent upward trend, there is a high probability that silver will continue to rise when markets open on Monday. However, due to the overbought conditions, there might be a minor pullback or consolidation before continuing the upward trend. Final Probability: Probability of Silver Going Up: High (70-80%). Probability of a Pullback/Consolidation: Moderate (20-30%). Given these factors, it’s important to monitor the market closely for any signs of reversal or consolidation due to overbought conditions, but overall, the trend is strongly bullish.

This is kind of me too, except for the 6 figure part, I'm still stuck way down in the 5 figures I used to waste my money on all sorts of c**p until I started buying metals a few years ago. Buying physical is the ultimate savings account

£103

I'll do you a tube for £37/each 😁

Can you give sources for your calculations? Below are some figures for the UK: From above the average cost for a complete system of 2m^2 solar panels like the 1-2 bedroom option is approx £5000-8000 for 5-8 panels (10-16m^2). That's roughly £1,000 per panel including installation, ignoring any potential excess costs like the type of solar panel, installation complexities or extra equipment The size of the panels is important. It's not accurate to state you can just increase the size of the panels using silver alternatives and not accrue cost penalties elsewhere due to the extra mass and dimensions of the panels, plus manufacturing costs. Re-modulating a factory or network of factories to produce a solar panel with different dimensions in itself could massively outstrip any potential cost savings from using cheaper materials. From the above, it's not unreasonable to state the effective cost of a set of 2m^2 panels is £1,000 per panel and you need a minimum of 5 to create a viable system. If we assume each panel uses 20g of silver that equates to £16 per panel, £80 for the total system, or roughly 1.6% of the total cost of installation and operation of the system That's at the current silver price. If we quadruple the cost of silver to £100/oz, then excluding all other factors, the cost of silver would represent roughly 6.4% of the total system. Of course if silver goes to that price we must assume other metals, including base metals, alloys and composites, will also increase, as will various other factors. If we were to substitute for copper, well, copper is up roughly 34% in 2024 YTD and aluminium is up roughly 11%. We've also seen (minimum) wage increases, along with a dramatic rise in energy and shipping costs over the past few years. The biggest factor for solar is government subsidies and regulation which can be 30-50% of the installation ticket price. I'm not trying to be argumentative but it's not correct to say that a mooning silver price will have a substantial influence on the effective holistic cost of silver-intensive electronic products, including solar and EVs. The effect on things like electrical switches, computers, phones and so forth is negligible. If it takes 0.34g of silver to make an iPhone it doesn't matter if silver costs $30 or $300/oz, the cost of the silver content is negligible to the manufacturer, theoretically rising from $0.34 to $3.40 per device (assuming $300/oz silver), out of a sale price of $1200 (iPhone 15 pro max base model, no cover or accessories) - this would make silver content equivalent to 0.28% of the sale price, it's currently 0.028% which is barely a rounding error Specifically with regards solar technology, the latest advancement on the scene is perovskite composite cells. These cells theoretically reduce the silver content in panels by a factor of roughly three compared to traditional silicon solar cells. This reduction in silver usage can lower the silver constituent as a percentage of the total research and development, manufacturing, installation, and operational costs of a solar system

Are these coins 925 or 999? 2015 Battle of the Coral Sea Australia 1/2oz coin - £16 each Spitfire / Hurricane / Tornado / Phantom 1oz coins - £27 each 2012 UK / Rose 1oz - £27

Glowing. To celebrate I'm off to frolic in the sunshine 😁 You really should post more mate, you're kind of wasted in the NBS as only a few people can see what you post

This is inaccurate IMHO It might add a few pennies to low cost electronics but the silver price is negligible compared with the price of an iPhone (0.34g of silver) or a laptop. It would affect solar panels (20g+ for an average 2m^2 panel) and EVs (a few ounces) but silver is not the primary cost driver in those technologies. The manufacturers can shrug off silver mooning but they can't shrug off oil, labour, shipping costs or regulation/taxation Silver is used in electronics due to its unique chemical properties, not because it is cheap or scarce Solar panels and batteries are all about efficiency. It is simply not possible to replace silver in those technologies without compromising the entire product, especially for solar panels but also for batteries where a few % in real world efficiency gains is considered revolutionary.