Silver price about to plummet

[TonyS]

7 hours ago, Bullionbill01 said:

Hold on tight - think silver might actually break out - I reckon we’ll see £18 per ounce by end of year.......

I hope not, I’m still buying.

[Gildeon]

Yes need it to stay low for 6-12 months, to complete my stacking targets. Then go as high and as quickly as possible! 😎

[TonyS]

I’ve just drawn up my want list for the next twelve months, at this rate it’s likely to get severely edited.

[Ablist]

On 18/07/2019 at 17:06, DarkChameleon said:

I bought a bunch, added1/3 to my stash at 14.30, we were all over it, some panicked and thought it was doom n gloom while a lot were running and buying with everything they had...they could buy and sell on here there were no worries about a lack of buyers and sellers...as for selling now, they can sell here too for about spot with no commision being charged by tsf....offer 20 lot of generics or eagles or brits on here and see how long they take to buy them, ask for spot...finding buyers isn't a problem.

Wow so they sold a 20 lot of silver. That went up 2 bucks a pop. Hey they made $40 bucks! ...  Yawn. Who has time for that?? Are you serious??  Not trying to be rude here, but seriously man. If that’s the level it’s at you may as well be begging on the street. I could make more money that way. These recent market moves mean nothing in the short run, and they aren’t meaningfully profitable. 

[Ablist]

I will give Winger an ounce of silver if it goes to $4. I think they were going to make an episode on Vh1s where are they now. But not enough people remembered who he was.

 

[DarkChameleon]

1 hour ago, Ablist said:

Wow so they sold a 20 lot of silver. That went up 2 bucks a pop. Hey they made $40 bucks! ...  Yawn. Who has time for that?? Are you serious??  Not trying to be rude here, but seriously man. If that’s the level it’s at you may as well be begging on the street. I could make more money that way. These recent market moves mean nothing in the short run, and they aren’t meaningfully profitable. 

For people who got worried about loses and not getting their profit out then it's ok for them...I would sound silly if I said to load up the books with monster boxes but that would be $1000 a box if they have a dozen of them but who does that cover, for people who worry easily it's best to get out before their ulcers kick in...I have not sold an ounce in over 5 years

[Ablist]

1 minute ago, DarkChameleon said:

For people who got worried about loses and not getting their profit out then it's ok for them...I would sound silly if I said to load up the books with monster boxes but that would be $1000 a box if they have a dozen of them but who does that cover, for people who worry easily it's best to get out before their ulcers kick in...I have not sold an ounce in over 5 years

Semantics aside we are on the same page. I don’t want to be a kill joy for the small guy. Positive is positive. 

[Ablist]

And I’m one of the small guys by the way: I’m not a cartel banker, not a rocky etc. 

 I just have a different approach than this get rich quick windfall gain deal.

[DarkChameleon]

33 minutes ago, Ablist said:

And I’m one of the small guys by the way: I’m not a cartel banker, not a rocky etc. 

 I just have a different approach than this get rich quick windfall gain deal.

I mix it up, collecting and base stashing, I have a couple of hundred I could dump but I'll not do it till the money's right or to get something I really like, same with gold...but to far too many they got in on stories of nice returns and now are frightened by dollar rises or falls...but they can buy and sell instantly on here cos there are more buyers and sellers both sides of the swamp.

 

Really they should be chasing paper where a small rise and fall can be handled quickly and not wait for shipping, etc...but people do what people do.

[HawkHybrid]

9 hours ago, DarkChameleon said:

Really they should be chasing paper where a small rise and fall can be handled quickly and not wait for shipping, etc...but people do what people do.

 

you can only take profits on paper gold if you

actually own some paper gold to sell. that

requires a pre thought out strategy and not

fumbling along happy go lucky. besides many

still hold to the 'you don't own it if you don't

hold it'. true but irrelevant in this case as the

intention is to 'trade it' as opposed to 'own it'.

 

HH 

[STONE]

On 25/07/2019 at 17:31, Ablist said:

I will give Winger an ounce of silver if it goes to $4. I think they were going to make an episode on Vh1s where are they now. But not enough people remembered who he was.

 

Winger, Wonger... Whats the difference.🤣

[TonyS]

On 23/07/2019 at 15:47, TonyS said:

I’ve just drawn up my want list for the next twelve months, at this rate it’s likely to get severely edited.

At the moment the list is terminally edited.

I could go back to playing cards, at least I know I'll win.

[Alex]

I hate silver,I really do.Gold went up considerably but silver went down.I hear people talking about GSR and that silver has more potential than gold.Wake up people GSR it`s just going to get higher and higher.Silver is a waste of time and space.

[HawkHybrid]

1 hour ago, Alex said:

I hate silver,I really do.Gold went up considerably but silver went down.I hear people talking about GSR and that silver has more potential than gold.Wake up people GSR it`s just going to get higher and higher.Silver is a waste of time and space.

 

it's never too late to wake up to actual facts.

what fundamental analysis don't tell you is when

will cheap stop getting cheaper. (gsr indicators

takes maybe decades to play out)

 

look on the bright side, you are now better

equipped than you were yesterday.

'one day rodders, we'll be millionaires'. (del boy)

 

HH

[sixgun]

3 hours ago, Alex said:

I hate silver,I really do.Gold went up considerably but silver went down.I hear people talking about GSR and that silver has more potential than gold.Wake up people GSR it`s just going to get higher and higher.Silver is a waste of time and space.

Well i would not be so sure the GSR is simply going to rise and rise. Let's look at what is actually happening.

Here we have the 'medium term chart' - the GSR breached the blue horizontal and then has since pulled back and gone under.

Now let's take a closer look - see the previous high acted as resistance to the GSR going higher. Price was rejected from the underside of the line - we will have to see how this pans out - could be the GSR has topped out. i hear some sovereigns are accumulating silver as well as gold and they have plenty of vaulting space. Silver is a strategic metal as well as treasure.

 

[Shaunbarry]

Yea silver hasn't gone down like everyone thought it would all the big hype from FED in USA and it's around the same price lol

[HawkHybrid]

1 hour ago, sixgun said:

could be the GSR has topped out.

 

they said that at 75, 80, 85, 90... all along the

trend channel that started 2017. (keep on

calling for a trend change cos the channel is

still intact, why let no new data stop you)

people are constantly betting against the

trend because they think they are smarter than

the market. the market must be wrong each

and every time they lose the bet.

 

the fact is that those calling for a trend change

have been consistently wrong.

 

I don't know what the future will bring. what I do

know is I won't be listening to those who have

been consistently wrong and show no signs of

improving.

 

1 hour ago, sixgun said:

Price was rejected from the underside of the line

this is plain untrue.

we moved all the way from 87.x to 90.x  and then

gives back a fraction of the move. hardly what I

call a rejection of higher numbers.

you're way too early making that call. the fact that

the last green candle is probably close enough to

to an engulfing candle of it's immediate prior candle

get to go unnoticed. but then again that would not

be cherry picking the case for a lower gsr.

 

HH

[sixgun]

@HawkHybrid What i said is plainly true - you didn't quote the entirety of what i said.

"the GSR breached the blue horizontal and then has since pulled back and gone under."

It did that price went above the horizontal at the previous high of 2008 and then pulled back under that horizontal. 

This was shown in the longer term chart and then a close-up of recent times is shown

"Now let's take a closer look - see the previous high acted as resistance to the GSR going higher. Price was rejected from the underside of the line.."

Price having pulled back and gone beneath the horizontal has another run up but finds resistance at this horizontal and is rejected. It turn around in midair it is exactly on the line.This is rejection whether you see it as such is another matter to yourself. 

These are the facts. Then i say we will have to see what happens next.

Price could have topped out - it has historically topped out at around this level - we have seen the suggestion of resistance at this decadal high. 

Yes it is too early to be anything other than watchful - the GSR has trended for years at a time when it does - so i agree be cautious.  

[HawkHybrid]

the problem is you're stating all these 'could'

scenarios that are way too early to tell yet you

leave out glaring facts such as the engulfing

candlestick which is already a fact.

 

fact: unbroken trend channel

fact: engulfing candlestick

 

a lot of what you are saying is hand waving on

what might happen.

until the above facts are negated you'd be

stupid to bet on a trend change. (cautious is

not the word I'd use for those currently betting

on a lower gsr. we haven't even taken the first

step towards a trend change yet, this is a fact.)

 

HH

[Caratacus]

The drivers of silver and gold prices are probably more independent of each other than they have been for a very long time, following the Basel redefinition of Gold as Tier 1 risk giving an official signal to accumulate Au. Whereas, currently silver isn't to my understanding, regarded the same.

I guess depending how much gold is taken out of common circulation and the price rises and stabilises at a higher level, we may eventually see a transfer of public demand to cheaper silver for jewellery etc- but I suspect there is a lag here before any price rise....... it was only a few months ago Gold was 20% cheaper and they tell me, we are only just approaching the gold jewellery buying season

Outside the strengthening US dollar environment the impact is much more obvious...

 

[Zhorro]

19 minutes ago, Caratacus said:

The drivers of silver and gold prices are probably more independent of each other than they have been for a very long time, following the Basel redefinition of Gold as Tier 1 risk giving an official signal to accumulate Au. Whereas, currently silver isn't to my understanding, regarded the same.

I guess depending how much gold is taken out of common circulation and the price rises and stabilises at a higher level, we may eventually see a transfer of public demand to cheaper silver for jewellery etc- but I suspect there is a lag here before any price rise....... it was only a few months ago Gold was 20% cheaper and they tell me, we are only just approaching the gold jewellery buying season

Outside the strengthening US dollar environment the impact is much more obvious...

 

Over the past couple of years I do see some fundamental changes having taken place in relation to gold:

·         The desire of some countries to minimise their exposure to the US dollar.  We have seen Russia and China selling American debt and buying gold. 

·         Central Banks around the world (apart from in the West) seem to be building up their gold reserves.

·         The desire to circumvent the Petrodollar with Oil-for-Yuans (backed by gold).

·         Basel III reclassifying gold as a Tier I asset for banks’ balance sheets.

·         The possibility of the development of gold-backed crypto-currencies.

Gold looks to be getting a new lease of life as a medium of exchange, and I am surprised that it has taken so long for these developments to be recognised in the gold price.  So, this may be just the start of an upward trend in the price of gold.

When it comes to silver, I can’t see any new reasons that would justify a substantial up-lift in its price, and I am starting to wonder whether the often cited gold to silver ratio is an irrelevance in this day and age.  

[Caratacus]

47 minutes ago, Zhorro said:

Over the past couple of years I do see some fundamental changes having taken place in relation to gold:

·         The desire of some countries to minimise their exposure to the US dollar.  We have seen Russia and China selling American debt and buying gold. 

·         Central Banks around the world (apart from in the West) seem to be building up their gold reserves.

·         The desire to circumvent the Petrodollar with Oil-for-Yuans (backed by gold).

·         Basel III reclassifying gold as a Tier I asset for banks’ balance sheets.

·         The possibility of the development of gold-backed crypto-currencies.

Gold looks to be getting a new lease of life as a medium of exchange, and I am surprised that it has taken so long for these developments to be recognised in the gold price.  So, this may be just the start of an upward trend in the price of gold.

When it comes to silver, I can’t see any new reasons that would justify a substantial up-lift in its price, and I am starting to wonder whether the often cited gold to silver ratio is an irrelevance in this day and age.  

Most of us agree there is a dynamic shift of power taking place away from the "West"; and China's ownership of the States is  colossal (due to earlier failed US international economic policies).  Trumpism has come to late on the scene; China has been astute and has been able to buy cheap gold with the millions of dollar the US sends it every week to pay those debts. It is clear that most Americans (or indeed Europeans) haven't the foggiest how much money pours out of the West not just in trade but in debt repayment

[Ablist]

Strong trajectory towards Wrongers $4 price. Sell, Sell, Sell before you lose it all! 

[AgCoyote]

On 23/07/2019 at 04:05, Gildeon said:

Yes need it to stay low for 6-12 months, to complete my stacking targets. Then go as high and as quickly as possible! 😎

That's what I'm hoping for as well. I can get to >1000 ounces in a year. After that let's get silver to the moon.

[sixgun]

$18 just reached - boom - i did hear this was a threshold price for silver.