Silver Monitoring Thread £ (GBP) only.

[Shinus73]

Just now, Rains said:

How do you mean?

I mean that a 4% move down at the open, on no specific news, is not normal. Beyond that, I know nothing.

[Minimalist]

4 minutes ago, Shinus73 said:

I mean that a 4% move down at the open, on no specific news, is not normal. Beyond that, I know nothing.

Its all manipulated, sir.

[James32]

10 minutes ago, Shinus73 said:

Silver 4% down at the open. Even by crazy silver world standards, that’s an extreme move. Something is definitely afoot.

Still seems the same price as yesterday?

[Rains]

2 minutes ago, Minimalist said:

Its all manipulated, sir.

I think all  pms are but silver seem very underpriced feel like its should be about £200 per toz not £19 

[Minimalist]

Just now, Rains said:

I think all  pms are but silver seem very underpriced feel like its should be about £200 per toz not £19 

Its the most manipulated out of them all. Gold stands a slight of heading towards a real price given the weight of China and Russia buying up physical.

[Shinus73]

1 minute ago, James32 said:

Still seems the same price as yesterday?

The Kitco charts show a vertical 4% drop at the open and a vertical spike all the way back up again 50 mins later (5 mins ago). Who knows?

[silversky]

45 minutes ago, Shinus73 said:

The Kitco charts show a vertical 4% drop at the open and a vertical spike all the way back up again 50 mins later (5 mins ago). Who knows?

Click on the charts tab here on tsf.  These charts don't show that.  Must be kitco glitch.

[Shinus73]

8 hours ago, silversky said:

Click on the charts tab here on tsf.  These charts don't show that.  Must be kitco glitch.

Still showing on the Kitco chart.

[Gruff]

12 minutes ago, Shinus73 said:

Still showing on the Kitco chart.

JPM and BofA wish and dream.  
Looks like just a glitch in the matrix 

[silversky]

5 minutes ago, Gruff said:

JPM and BofA wish and dream.  
Looks like just a glitch in the matrix 

Perhaps they were feeding the AI with its manipulation orders for todays close, and they accidently hit 'execute now' instead of 'perform gradual decline'  

[Gruff]

2 minutes ago, silversky said:

Perhaps they were feeding the AI with its manipulation orders for todays close, and they accidently hit 'execute now' instead of 'perform gradual decline'  

I think we're in for a tumultuous couple days in the Silver market. Trying to slam it down for the close of the month as it comes into the end of the quarter for which the US banks need to report profits or losses. So it'll be 2 months back to back where we see wild swings into the month end

[silversky]

28 minutes ago, Gruff said:

I think we're in for a tumultuous couple days in the Silver market. Trying to slam it down for the close of the month as it comes into the end of the quarter for which the US banks need to report profits or losses. So it'll be 2 months back to back where we see wild swings into the month end

It certainly looks like a trip back to 18 and possibly lower is on the cards.  Amazing really that gold hasn't got further than it has over the last month.  Especially given the world changing economic sanctions.  The implications are probably bigger than anything since august 15th 1971.  It's hard to comprehend a world where silver is cheap, inflation is roaring and energy is seriously expensive.  I guess that world is one where there isn't enough food and finished products and savings become less important.  You can't eat those Britannias after all.  Production costs must be way up and yet paper silver is down.  I guess it'll take a few months for production cuts to feed through, and then it'll suddenly and rapidly change.

[Gruff]

31 minutes ago, silversky said:

It certainly looks like a trip back to 18 and possibly lower is on the cards.  Amazing really that gold hasn't got further than it has over the last month.  Especially given the world changing economic sanctions.  The implications are probably bigger than anything since august 15th 1971.  It's hard to comprehend a world where silver is cheap, inflation is roaring and energy is seriously expensive.  I guess that world is one where there isn't enough food and finished products and savings become less important.  You can't eat those Britannias after all.  Production costs must be way up and yet paper silver is down.  I guess it'll take a few months for production cuts to feed through, and then it'll suddenly and rapidly change.

Anything is possible in these controlled and manipulated markets. I think if Russia and China or eastern Eurasia (to include other countries) come out and support a more tangible backed currency that will destroy the CME/LME crime syndicate. But they've managed to keep the game rigged for the last 40 odd years, so it could go on another 10. I've been saying the financial market is ripe for a crash since 2016 and so far they banksters have kicked the can down the road. However what has become more apparent is that they are having to use more and more manipulation and FIAT debt creation for an ever diminishing return.  Added to the fact that a lot more people have woken up to the con. 
I think what we're going to see more of is wilder and wilder price swings as these global currencies die. The death throws will be painful, we haven't seen anything yet.

I fully expect food and energy prices to double in the next 12-18 months. As you mentioned with all the geopolitical wrangling's and sanctions flying about it's going to make it tough for us "regular/normal folk" 

I agree that with China closing down manufacturing regions again and the tightening/lack of supply of base materials, we'll see inflation head higher still. Perhaps even into "official" double digits in the next quarter or two. We all know that inflation is raging at 12-15% and has done so for the last 6-8 months. Food and energy costs have ensured that
 

[silversky]

9 hours ago, Shinus73 said:

Still showing on the Kitco chart.

It appears that the kitco chart has "fixed itself".  It must embed as a live updating window, because I distinctly remember the vertical drop on it when you posted it earlier.  And that has disappeared!!!

[Gruff]

4 minutes ago, silversky said:

It appears that the kitco chart has "fixed itself".  It must embed as a live updating window, because I distinctly remember the vertical drop on it when you posted it earlier.  And that has disappeared!!!

Interesting, good to know. Either that or they had someone go in and edit the data to reflect the lack of flash crash

[silversky]

9 minutes ago, Gruff said:

Interesting, good to know. Either that or they had someone go in and edit the data to reflect the lack of flash crash

Yeah it was originally showing a drop to the 24.2 area where it wandered about for a bit.  Certainly not an instantaneous down and up.  The charts here on tsf definitely did not show that drop for the same time period.  Almost like a different commodity's chart.  Odd.

[gji25]

8 hours ago, silversky said:

Yeah it was originally showing a drop to the 24.2 area where it wandered about for a bit.  Certainly not an instantaneous down and up.  The charts here on tsf definitely did not show that drop for the same time period.  Almost like a different commodity's chart.  Odd.

have you refreshed your browser (F5) 🤣

[silversky]

6 hours ago, gji25 said:

have you refreshed your browser (F5) 🤣

Not sure how that will help kitco's chart error from 36hrs ago. 

[silversky]

Gold and Silver now back at pre war levels!  No idea where this spike low will stop out.  All the stops on paper Gold and Silver longs must be getting smashed right now.  Once cleared I don't imagine the low lasting for too long.

[Gruff]

9 minutes ago, silversky said:

Gold and Silver now back at pre war levels!  No idea where this spike low will stop out.  All the stops on paper Gold and Silver longs must be getting smashed right now.  Once cleared I don't imagine the low lasting for too long.

Currently looks like Silver stopped out at exactly the $24 mark. That's indicative of the banks jumping on the bandwagon. But time will tell. I suspect they'd want it pushed lower still. 

[silversky]

Brent has dropped sharply, probably on news of the slightly positive talks in Turkey.  But no matter what happens, I can't see the sanctions being lifted anytime soon.  And nor do I see a change to the planned requirement by Russia for their energy sales to be paid for in Roubles.  You can't just steal a nations foreign reserves and make a blatant attempt to destroy their currency, then expect to say it's all cool now and put that genie back in it's box.

This is now about escaping the leverage of the USA for many nations.  Having set up alternative payment methods, they're not about to abandon them on a whim.  The west is refusing to pay in Roubles, and this will be the next big clash if Russia turns off the O&G because of non payment issues.

[Gruff]

2 hours ago, Gruff said:

Currently looks like Silver stopped out at exactly the $24 mark. That's indicative of the banks jumping on the bandwagon. But time will tell. I suspect they'd want it pushed lower still. 

Looking more into this

Bouncing off the $24 handle. If I'm not mistaken that also touched the 200 Day MA as well. 

I bet a lot of paper shorts were closed out by the banks

[Spark268]

22 hours ago, silversky said:

Almost like a different commodity's chart

well arguably it is - trying to get ahold of the shiny stuff at the stated price is a fools errand !

[HerefordBullyun]

18 minutes ago, Gruff said:

Looking more into this

Bouncing off the $24 handle. If I'm not mistaken that also touched the 200 Day MA as well. 

I bet a lot of paper shorts were closed out by the banks

probably option expiry day though i havent checked

[GoldStandardPartyUK]

21 minutes ago, HerefordBullyun said:

probably option expiry day though i havent checked

Or the perception of it by participants