Silver Monitoring Thread £ (GBP) only.

[simon13]

The £ will take a hit, i'm sure, until certainty and confidence can be restored. If No, I think the £ will strengthen, and maybe overshoot a little. Time to buy PM's. If Yes, be glad you have PM's.

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[a_a]

wow, under £11.50 again, keep going!

[FTYBR]

Whammy!!

Wasn't planning to buy this week but salivating at the price drops. Notice the premiums increasing at silver bullion dealers over past month.

Although there'll generally be plenty of availability for us peasants in coins etc., the Shanghai exchange inventory is getting emptied. For those of you who don't know, Shanghai exchange is an actual physical silver (delivery) market - the only one. Comex/SLV are all paper contracts (delivery in cash settlement)

This time last year, inventory stood at 462,000kg. It's now 93,300kg.

As I understand, there's about 1 or 2 months left of physical silver. Once that's gone.... (Anyone's guess but I think it might be massively bullish in dollar terms).

Edited September 11, 2014 by FTYBR

[FTYBR]

If you're boring like me, here's how to track the inventory...

http://www.shfe.com.cn/en/MarketData/dataview.html?paramid=week

Choose a date and select 'Weekly Inventory'

[Keithoil]

I can feel the lure of a tube of Goats......

[ukstack]

Spot is at 11.48 dealers spot is 11.55 + premium booooooooooooooo 

[craig12]

if it gets to £11.15 ish  it would be  a 4 yr low 

Edited September 11, 2014 by craig12

[silversword]

if it gets to £11.15 ish it would be a 4 yr low

Everyone here except Pete would probably be quite happy with that.

[ukstack]

Anyone know why its dropping like it is atm ?

[HighlandTiger]

Anyone know why its dropping like it is atm ?

Probably because the dollar is on the rise. 

[Pete]

Everyone here except Pete would probably be quite happy with that.

 

Very observant my friend !!

Not a nice feeling sitting on a mountain of silver worth half its cost.

I blame my addiction on following the Aussie stackers site and naively taking on board all the optimism at the time before the crash.

Just a warning to others who get hooked on the shiny metal.

[Danny-boy]

Very observant my friend !!

Not a nice feeling sitting on a mountain of silver worth half its cost.

I blame my addiction on following the Aussie stackers site and naively taking on board all the optimism at the time before the crash.

Just a warning to others who get hooked on the shiny metal.

Pete, it certainly is good to have somebody on here to tell the "other side" of the silver story.

As I have said before, I do feel for you being underwater, but you will have your day matey along with the rest of us hopefully.

Certainly good for new stackers to understand there could be downsides and not just upsides.

[craig12]

i think the £11.25 caused a stir some while ago  if it goes lower then  who knows 

[craig12]

im sure that if silver was purchased at higher costs then it would feel at the time as it was going even higher, i know someone who bought a house in 2006 and swore blind the house prices couldnt go down , but it was a frenzy all over the news  everyone was told to buy a house there and then ,  i would have thought that the guys who paid a lot more then could pick up some silver at sub £12 to try and get some gains back

 

my only fear is sub £10  not that its a bad thing , but would it be spiralling out of control  and take years to come back

Edited September 11, 2014 by craig12

[HighlandTiger]

Very observant my friend !!

Not a nice feeling sitting on a mountain of silver worth half its cost.

I blame my addiction on following the Aussie stackers site and naively taking on board all the optimism at the time before the crash.

Just a warning to others who get hooked on the shiny metal.

Ah, but if you buy loads now, you can get your price per oz down, and instead of being 50% down you might get to being only 25% down. 

 

You just cant trust them aussies with their shiny perth mint premium coins......  (says the man looking to buy Perth Mint Stock Horses   )

[HighlandTiger]

my only fear is sub £10  not that its a bad thing , but would it be spiralling out of control  and take years to come back

I'll be happy to wait 15 years for it to come back. Bring it on.....

[craig12]

i do get a bit peeved at the drops on spot but not much change on the coins, i think golds took a bit of a battering but atkinsons still £197 for a mixed date sovereign , im sure they were that price before the drop in gold

Edited September 11, 2014 by craig12

[craig12]

I'll be happy to wait 15 years for it to come back. Bring it on.....

i would to sir , its just the human instinct for wanting prices to rise quick

[garthy]

Anyone know why its dropping like it is atm ?

 

I still say this is deflationary, inflation's dropping here and the US but in Europe I'd say they're now negative, governments are terrified of deflation especially with so much debt, this is the lowest most commodities have been for a long time, I say we're going lower still.

[craig12]

could i ask a  question ?

how low are we going to go before christmas

anyone think £11 is unachievable

Edited September 11, 2014 by craig12

[Fluttershy]

though I sort of feel for those that bought at £20 or more, there`s been some good advice about more Now to bring the overall average down.

Personally I see it as just Noise, short term noise at that, the Overall Signal is still sound.

 

for me, i`m just a bit disgruntled not that i bought last week at a low of 11.67, but that I blew all my remaining cash on my hedge plan Against silver, and am now effectively broke for the next week or 2 in terms of fiat.

 

my cost average is still roughly 50p a gram, and I have over 5 kilos (which isn`t a Lot!), we`re ALL still a little better off than the person next door that knows nothing about this, even if you only have a single ounce of 999

 

Craig, I`m not bothered if we see £1 an Oz for the next 5 years, the maths is still good!

[Carpe Diem]

could i ask a  question ?

how low are we going to go before christmas

anyone think £11 is unachievable

 

no one has a scooby craig, if they say they do then they're telling porkies.

[Fluttershy]

well, to be honest, $11 or any other value is perfectly possible by Christmas or even tommorow morning!

 

just sayin` 

[Keithoil]

Oh look now you said that its going back up!!!

[HelpingHands]

My average will be some way over £20 per oz but I bet I could sell most of my coins for what I bought them for.

A move up of just a few quid would be no use to me. Either go to £100+ per oz or stay low.

Edited September 11, 2014 by Helping Hands