vand

This rocketship has well and truly left the launchpad now.

I'm beginning to think that $28|£20 and GSR below 60 this year is not just possible, but likely.

It hasn't even doubled yet. I am not even tempted to sell for what will be a mere blip on a very large move on the y axis.

300-500% peak to trough move is coming - MINIMUM. It bears repeating that bull markets always run longer and further than anyone thinks they can, even the early adopter/smart money guys end up selling WAY too soon and end up missing out on the really big moves. 

I will consider selling after 6 years, not 6 months!

Need we reminding...? 

Good luck if you want to buy flatware. I seem to remember than it was acutally ME who piqued recent interest in eBay flatware, at least most recently, so I consider that I've done my homework.  Personally I found that it I was not really willing to invest the time and energy getting into bidding wars on ebay. Everyone's time is ultimately worth a lot to them.

If you are buying/selling vaulted silver without any intention of ever taking delivery, is it really any different to placing a spreadbetting on it? At the end of the day you will never see an oz of the metal, yet one is 10 times cheaper.

There are many ways to gain exposure to silver. Having a long term strategy and picking whatever one holds the most interest to you is ultimately how you will do best from the bull market in my opinion. And the biggest mistake is to think that there is only one "best way" to do it. I own physical. I own some flatware, and I also spreadbet both long and short!

23 hours ago, Paul said:

Remember folks............................

 

 

I like this version because it includes the classic "bull" and "bear" traps.

Yes. If your are trading/flipping silver/gold, then do it via the paper market (and pay 0.2% spread rather than 20%). I sometimes do myself.. I would say that if you are tempted to sell for less than a 50% (upside) move then you should be doing it by paper rather than physical. Silver can easily do that - it has already done so since mid Dec. @Pipers is quids in

We are currently at 3yr GBP highs for silver. If that's not a bull market then I don't know what is. Remember that bull markets run higher than further than nearly anyone thinks they can (even/especially the early "smart money" participants who usually end up selling way too early).  This party's just getting started. When it's done you or I won't care too much if we paid £10, 12, or £15 for our coins, because the fiat price will be so high it will that we will all curse that weren't remortgaging our houses to buy it while it was so relatively cheap.

18 hours ago, HawkHybrid said:

hold insurance in hand(physical gold/silver). things that you

plan to flip on market fluctuations should be lowest premiums

and most liquid, eg paper pms and junk. the risk on low

premium silver is you must get it right or there's a long wait

before you're in profit. those who bought junk silver in 2011

have some waiting before breaking even. your buying

preference and volume should be determined by your strategy.

 

HH

If premiums were the only thing that mattered then no one should buy smallcap or AIM shares by the same argument.

Don't lose sight of why you buy silver - it is better to pay a 20% premium on something you think will go up 500% than a 5% premium on something that you think will go up 200%. That's just maths.

36 minutes ago, HighlandTiger said:

But are you getting 43% more today on your semi numis and government rounds than you were when you bought them?

Not a hope in hell

I'm buying, not selling, and I can assure you that my fiats don't buy as many ounces at they did on Jan 1st.

Hey, try selling some of your spoons and let us know how you get on after Ebay and paypal have taken all their fees!

19 minutes ago, HighlandTiger said:

It's a shame none of us were buying an ounce of silver at that price. Most people buying coins or semi numi stuff, are just about breaking even at best when comparing buying prices to scrap prices. 

Well I'm pretty sure that some of us (not me alas) were buying silver for below that price, as there was ample opportunity to do so throughout 2015.

And true, you can't buy Eagles or Brits at spot and never have been able to, but I'm pretty sure that anyone selling them at the moment is getting much better than spot on the secondary market anyway. If you are buying coins and then selling back to dealers for the spot then you are not doing it right.

Worth taking a breather and looking how far we've come just year alone:

Silver 31st Dec 2015: £9.32

Silver today: £13.40

That's a 43.7% increase YTD.

If stocks were doing that they'd be swinging from the rooftops on Wall St.

Currently

Silver £13.27
Gold £984

In my view, the price action we are seeing in the days following Brexit and the sustained move above key levels is much more telling than the initial spike that happened in the hours of the Referendum count. Normally when a market has a knee-jerk reaction it can mark a short-term top and then we head back down lower for a period of consolidation, but that doesn't seem to be happening this time.

While I'm personally sitting on my hands for now, the longer it goes on the more it will just look like a catalyst on the way to much higher prices in the medium/long term. I'm happy that I've been stacking hard for the last few months, but I I'm sure not the only one who, no matter how many oz your hold, wishes that he owned more!

On 6/24/2016 at 11:04, PureGold said:

I 100% won't be selling gold is still undervalued

+1.

When the day comes that gold is fully valued (Gold:Dow at least in low single digit, under 100oz for a standard house) of gold  then this week's price action won't even be distinguishable as a blip on the overall chart. 

Buying fiat currency with real money is the craziest thing that you can do right now.

Carney has pretty much just said that they're prepared to do "whatever is necessary to stabilize financial markets" ( = codeword for more fiat currency dilution). That's all they have in their locker, and they're about to wheel out the bazookas and heavy artillery.

Er, so.. did we touch £13?

6 hours ago, piddlinginsilver said:

Today I got 2 pandas. One 2013 for $24 and one 2014 for $24.50. I also got a 2016 kookaburra. I really like the 2016 kookaburra look. 

Love the 2016 kooks also.. and they are surprisingly affordable, with premiums also comparable to brits, but you also get the capsule as standard so it's really a bargain.  I have already amassed about 35 of them and will be buying more each month. Great coin.

51 oz order just placed of Kooks, ASEs, Elephants and a few others other premium coins @ £14.8 average... all paid for out of my ill-gotten matched betting gains.. see other thread if interested. Will be my only purchase this month.

29 minutes ago, Aoutp said:

What exactly drives the prices down at the moment ? I struggle to understand how the fundamentals (supply/demand, metal rarity etc...) are explaining the current prices. 

If you mean the largish drop on Monday then that was purely GBP strength, thus everything priced in USD getting cheaper. 

GBPUSD now $1.47. Dragged itself off its nadir of around $1.37 earlier this year.

I like to buy when there's a bit of a selloff, but frankly once I've hit that "confirm" button and the order has gone through, I don't really care if the price goes up or down a few percent either way. It's difficult to catch the bottom, so what normally happens is that I'll buy it when it's tanking and the price will fall a bit further, but then after all the selling is done it bounces back and makes further highs. 

New GBP highs...

http://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GBPUSD&p=D&b=5&g=0&id=p77276900203

So I finally received my humongeous delivery of 300oz of silver that I have accumulated in the Celticgold vault over the last 3 months.

It seems so much, and yet so little. Volumetrically, perhaps the size of 1 house brick.

Brings me to 500oz for this year, well ahead of schedule for my 1000 oz year end target. 

4 hours ago, Stu said:

Poised to breach the £12 mark again?

Almost certainly will take out £12 and I wouldn't be surprised to see £14+ in the coming weeks. We had 4 weeks of correction and now if we have started a new daily cycle then it is still very early into the cycle. 

On 3 June 2016 at 16:57, DRooster said:

The Euro is more toxic than the dollar : vote leave!
 

Getting rather off topic, but the EU is not the same as the Euro!

The markets have long moved on from the Brexit question and have clearly written off the chances of a "leave" decision (rightly, in my view).  The bookies have been slashing their 'stay' odd for the last few weeks - the result will be a very convincing "stay". 

I personally think that UK and EU with BOTH lose if we vote leave. Why? Because free trade is MUTUALLY BENEFICIAL. If you erect walls that make trade more difficult then everyone loses. Trade is one thing that ALL economists understand and agree benefits both sides. Remember this truism when you hear some news that countries want trade embargoes imposed on a particular country or for eg, China to boycott trade with Iran... Why is it in China's interest to trade less with Iran? It's in both their interests that trade between them happens, and if that is true (as it must be) then less trade between them will hurt them both, not just Iran. 

Anyway, the Brexit question was the tail wagging the dog. GBP/USD is usually driven by The USD daily and weekly cycles. The short term USD bounce should be topping around now, and I would expect further dollar weakness over the summer to drive both PMs and GBP higher.

General PM selloff and a stronger GBP has seen silver back in my buying range.

Spot current at £11.15 and Celticgold have 2015 Maples @ 16% over. Complete no brainer - pulled the trigger. One of my cheapest batches ever. Very happy to secure more oz at such a low price.

12 hours ago, sovereignsteve said:

Possibly just a kneejerk from the FOMC committee meeting report that suggested a US interest rate rise sooner rather than later. Will be interesting to see how the metals go over the next couple of days.

Yes, it's all smoke and mirrors. The Fed will not raise rates other than to save face and be able to say "we said we were going to raise rates, and therefore we're raising them."

It does, however, give the market players a narrative to follow and for gold to move lower over the short term while the "possibility" is still on the table. My guess is that commodities will move lower into the June FOMC and then whatever they do, it will bottom around that time. If the Fed does end up tacking on a quarter point then that will be it, not only for this year but for this entire economic cycle. 

Another good treeshake today, and more tellingly the miners got absolutely whacked, which I think means the odds favour further downside in the short term.

Could possibly see sub-£11 again, especially if GBP continues to improve. I think I'll stop my buying for a month or two as or until I think we're close to an intermediate bottom.

Another tranch ordered today.

Mainly 2016 Maples @ 18% over spot from my usual dealer.  Have to arrange delivery next week. It's gonna be epic!

Good beatdown today, should flush out some of the weak hands. Mining shares are WAYYYYY overstretched and need to correct a fair bit.

I don't know if any of you follow Gary Savage (smartmoneyblog). I've followed him for a few years and he makes pretty good calls based on his cycle analysis method.

http://blog.smartmoneytrackerpremium.com/2016/05/caution-next-week-metals.html