Silver Monitoring Thread £ (GBP) only.

[Roy]

Just now, ZRPMs said:

Just like to keep between 8 to 12 times silver to 1 Gold. Roughly the ratio that silver is produced

It's turned you a good profit since purchase 👍

[ZRPMs]

Just now, Roy said:

It's turned you a good profit since purchase 👍

Knowing my luck, When I need to move it on, we'll be in an other 10 year dip

[bobski]

Current Price

£25.54

Live Change

0.48% £+0.12

Live high £25.59

 

Live low £25.38

[bobski]

Current Price

£24.79

Live Change

-1.40% £-0.35

Live high £25.14

 

Live low £24.64

[Agaupl]

[bobski]

£24.80

[FriedrichVonHayek]

Shanghai

21 May 2024 

AM USD 36.08

PM USD 35.46

[Gordy]

6 hours ago, bobski said:

Might also have a Silver-zinc battery

I heard they run on duracell 

[FriedrichVonHayek]

A few people don't seem to be convinced that due 13% VAT in China that the arbitrage between the Chinese markets and Western markets is worth it.

That's assuming everyone plays by the rules.

https://www.bbc.co.uk/news/world-asia-68761514

They Indians like a bit of smuggling too.

https://timesofindia.indiatimes.com/city/ahmedabad/svpi-sees-65-rise-in-gold-smuggling-241kg-seized/articleshow/110286845.cms

All of this Gold will have been bought cheaper in the West.

Edited May 21 by FriedrichVonHayek

[theman73]

6 minutes ago, FriedrichVonHayek said:

A few people don't seem to be convinced that due 13% VAT in China that the arbitrage between the Chinese markets and Western markets is worth it.

That's assuming everyone plays by the rules.

https://www.bbc.co.uk/news/world-asia-68761514

They Indians like a bit of smuggling too.

https://timesofindia.indiatimes.com/city/ahmedabad/svpi-sees-65-rise-in-gold-smuggling-241kg-seized/articleshow/110286845.cms

All of this Gold will have been bought cheaper in the West.

I'm coming from an ex-communist country, not sure what you know about communism but I can tell you for sure that the state overcontrols the precious metals.

If you think that you can import silver into China and have an arbitrage with the West you are wrong. Communism is a closed system, you like a normal person don't have access to things like PM markets.

[stefffana]

5 hours ago, Agaupl said:

Hi, @bobski!😘

[stefffana]

Just now, theman73 said:

I'm coming from an ex-communist country, not sure what you know about communism but I can tell you for sure that the state overcontrols the precious metals.

If you think that you can import silver into China and have an arbitrage with the West you are wrong. Communism is a closed system, you like a normal person don't have access to things like PM markets.

Probably Shanghai is a little like Yugoslavia under Tito, with a kind of pseudo-capitalism. But over all you are absolutely right about government's control.

[Agaupl]

6 minutes ago, theman73 said:

I'm coming from an ex-communist country, not sure what you know about communism but I can tell you for sure that the state overcontrols the precious metals.

If you think that you can import silver into China and have an arbitrage with the West you are wrong. Communism is a closed system, you like a normal person don't have access to things like PM markets.

And the Turks … not communist but the potential arbitrage is severely state limited. 

Edited May 21 by Agaupl

[silversky]

Indian tax on gold shows what it's like when a government wants to keep you using their toilet paper.  

[silversky]

Bit lively up at these levels...  looks like its forming a temporary trading range with a 4% swing.  Lets see if it holds the 24.5 level.  Maybe even there's more upside surprise to come.

[FriedrichVonHayek]

20 minutes ago, theman73 said:

I'm coming from an ex-communist country, not sure what you know about communism but I can tell you for sure that the state overcontrols the precious metals.

If you think that you can import silver into China and have an arbitrage with the West you are wrong. Communism is a closed system, you like a normal person don't have access to things like PM markets.

I'm sure if there's money to be made people will take a risk.

[Spyder]

11 hours ago, James32 said:

Is it a key date?

Kilos are now reaching £850 + post and counting 

 

James edit this photo as you were logged in on your eBay account and showing your postcode

Edited May 21 by Spyder

[ArgentSmith]

2 minutes ago, Spyder said:

James edit this photo as you were logged in on your eBay account and showing your postcode

PM him lol

[Darr3nG]

2 minutes ago, Spyder said:

showing your postcode

Derry or Londonderry? I'm confused!

[stefffana]

35 minutes ago, Spyder said:

James edit this photo as you were logged in on your eBay account and showing your postcode

 

[stefffana]

40 minutes ago, Darr3nG said:

Derry or Londonderry? I'm confused!

Now I'm more confused than you, dude!

Checking @James32's postcode on Google Earth, is showing this image. I think it's a mistake somewhere...

 

 

Edited May 21 by stefffana

[silversky]

That doesn't look right.  Not enough storage there... 

Edited May 21 by silversky

[silversky]

Chards offering £1 above paper spot right now to sell.  Interesting to see the paper spot price so far diverged away from physical reality.

What's the most anyone's ever seen?  I don't recall seeing more than this divergence in the roughly 9 years I've been paying some attention.

[James32]

Just now, silversky said:

Chards offering £1 above paper spot right now to sell.  Interesting to see the paper spot price so far diverged away from physical reality.

What's the most anyone's ever seen?  I don't recall seeing more than this divergence in the roughly 9 years I've been paying some attention.

How'd you mean? I see paper vrs physical very close actually. 

Paper £25

Physical £26.50-£27

[stefffana]

1 minute ago, silversky said:

Chards offering £1 above paper spot right now to sell.  Interesting to see the paper spot price so far diverged away from physical reality.

What's the most anyone's ever seen?  I don't recall seeing more than this divergence in the roughly 9 years I've been paying some attention.

If they offers @£25.50 now, is because the mints are asking for more probably at the moment and it's cheaper for them to fill the shelves with second-hand silver. I think it's only temporary.