Silver Monitoring Thread £ (GBP) only.

[HerefordBullyun]

Huge sell off going in the SPY and gold is being clubbed havent even looked at silver yet as its going to brutal the Jobless print was bigger than expected 9.6 mil than the projected 8.8 mil

[HerefordBullyun]

Gold is moving up now as the jobless print is sinking in! So expectation for silver to follow

[BLOOMMAN101]

I'm happy to sit on my hands for a few weeks

 

eta

I'm on heavy-duty painkillers and other c**p atm,not conducive with short-term trading last time I put a bet on 15 seconds later I couldn't remember I was short or long

Edited October 3, 2023 by BLOOMMAN101

[HerefordBullyun]

Its really mixed bag today though although the Jobless print was higher than expected bond yields and Dollar is strong this strength is going to continue.

Soloway knows his stuff and Im glad @Stacktastic posted it. The metals and miners are certainly in the buying opportunity zone, Im down 12% on my miners but am I selling? No I am just going to dollar cost average and buy teh dip becuase when the metals rise - its viva las vegas baby!  

[Stacktastic]

 

18 hours ago, HonestMoneyGoldSilver said:

 it might be a good idea to wait a week or 2 if you want physical. 

Yeah as dealers will be buying inventory right now. 
Private sellers that hold inventory will be selling. 
Often better to wait a week or so assuming it does not shoot back up to the highs again. 

Which it seems to be doing - I trust Solloway's judgement tbh.
He is not always right though, but AG purchase is already 4% up. 

Might be quarter end window dressing & tax loss selling IMO from funds that bought in the banking 'crisis'

Edited October 3, 2023 by Stacktastic

[FriedrichVonHayek]

I don't usually like buying 1oz Silver coins due to the premiums and VAT but I'm having a hard time buying scrap at the moment, so I've been buying 1oz Silver Bullion.

I think Bullion coins under £24 are a bargain.

[Zhorro]

On 22/09/2023 at 10:13, Zhorro said:

The paper to silver ratio continues to fall.  It is now 254.88:1.  Back in March is was 364.29:1.  So, in the last 6 months some 30% of paper silver has disappeared (or I suppose silver production could have increased!). This would seem to be a significant amount but I have not seen any discussion of this development or its implications for the price of silver.

The paper to silver ratio continues to fall.  Two weeks ago it was 254.88:1, now it is 242.67:1.  Back in March is was 364.29:1. Yet, it does not appear to be having much impact on the spot price of silver.

[dmcac]

1 minute ago, Zhorro said:

The paper to silver ratio continues to fall.  Two weeks ago it was 254.88:1, now it is 242.67:1.  Back in March is was 364.29:1. Yet, it does not appear to be having much impact on the spot price of silver.

That's because of QT right? 

[Zhorro]

2 minutes ago, dmcac said:

That's because of QT right? 

I was thinking it was due to the fear of being left holding paper.

[HerefordBullyun]

Just now, Zhorro said:

I was thinking it was due to the fear of being left holding paper.

Indeed!

[silversky]

Interesting little drop and bounce when the Non farm payrolls and unemployment rate came out.  I personally think that this is a 4th wave in a corrective elliotwave C wave.  One more leg down to complete a 5th wave in the larger C wave correction.  A week or two of subdued battle upwards to complete this 4th wave, before the USD price will target the previous low.  The UK chart will end up wherever due to fx rates.

Further out from here, a base will be built before attacking the downward trend line which is loosely forming a sloping inverted head and shoulders.  Probable break upwards in the first quarter of next year.  But who knows with Silver.  

The faked data has been coming out a little better than expected for a while now.  It's a sign that things are not quite as doom and gloom as zerohedge likes to imagine.  In reality of course, debt is impossibly out of control, and real inflation is far worse than the con job numbers put out by every global institution.  Eventually it WILL come time to pay the piper.  But for now, it appears to me as if they have the situation loosely under control.  The train is still hurtling towards a broken track, but it's not going to come off on this bend.

[theman73]

16 minutes ago, silversky said:

Interesting little drop and bounce when the Non farm payrolls and unemployment rate came out.  I personally think that this is a 4th wave in a corrective elliotwave C wave.  One more leg down to complete a 5th wave in the larger C wave correction.  A week or two of subdued battle upwards to complete this 4th wave, before the USD price will target the previous low.  The UK chart will end up wherever due to fx rates.

Further out from here, a base will be built before attacking the downward trend line which is loosely forming a sloping inverted head and shoulders.  Probable break upwards in the first quarter of next year.  But who knows with Silver.  

The faked data has been coming out a little better than expected for a while now.  It's a sign that things are not quite as doom and gloom as zerohedge likes to imagine.  In reality of course, debt is impossibly out of control, and real inflation is far worse than the con job numbers put out by every global institution.  Eventually it WILL come time to pay the piper.  But for now, it appears to me as if they have the situation loosely under control.  The train is still hurtling towards a broken track, but it's not going to come off on this bend.

 

[ArgentSmith]

18 minutes ago, silversky said:

Interesting little drop and bounce when the Non farm payrolls and unemployment rate came out.  I personally think that this is a 4th wave in a corrective elliotwave C wave.  One more leg down to complete a 5th wave in the larger C wave correction.  A week or two of subdued battle upwards to complete this 4th wave, before the USD price will target the previous low.  The UK chart will end up wherever due to fx rates.

Further out from here, a base will be built before attacking the downward trend line which is loosely forming a sloping inverted head and shoulders.  Probable break upwards in the first quarter of next year.  But who knows with Silver.  

The faked data has been coming out a little better than expected for a while now.  It's a sign that things are not quite as doom and gloom as zerohedge likes to imagine.  In reality of course, debt is impossibly out of control, and real inflation is far worse than the con job numbers put out by every global institution.  Eventually it WILL come time to pay the piper.  But for now, it appears to me as if they have the situation loosely under control.  The train is still hurtling towards a broken track, but it's not going to come off on this bend.

I believe the multi decade bull run has one more VERY BIG leg up to go (Blow off top we haven't seen) but some pain short term no doubt.

[SidS]

I expect the gold price to drop, hold (like William Wallace... "HOLD! HOLD!") and then it's going to go up and up some way I suspect. This all feels very familiar.

And where gold goes, silver sometimes follows... Sometimes.

Edited October 6, 2023 by SidS

[Stacktastic]

 

16 hours ago, FriedrichVonHayek said:

I think Bullion coins under £24 are a bargain.

I dont. £21 or ideally £20 a coin are a bargain longer term, given that silver has not long been at £10 an ounce.  
I love an 1kg unicore personally these days.  

7 hours ago, silversky said:

Interesting little drop and bounce when the Non farm payrolls and unemployment rate came out. 

Is it me but if we are entering stagflation - who cares who has a job or not?  
If a loaf of bread doubles & mortgages go up 50% & wages stay the same people will be fookked wont they?
I dont trust these figures at all & its a load of rubbish if you ask me. big turning point coming IMO. 
Like a mafia war it has to happen to pull out the bad blood.

A florist today said her mortgage went up £500 a month as they fixed it at 4% for 5 years. 
Ima a lucky bugger for fixing mine for 10 at 2% as even I would be finding it a bit tricky. 
I have no other debt too. 

Edited October 6, 2023 by Stacktastic

[Silverman2U]

8 hours ago, Stacktastic said:

 

I dont. £21 or ideally £20 a coin are a bargain longer term, given that silver has not long been at £10 an ounce.  
I love an 1kg unicore personally these days.  

Is it me but if we are entering stagflation - who cares who has a job or not?  
If a loaf of bread doubles & mortgages go up 50% & wages stay the same people will be fookked wont they?
I dont trust these figures at all & its a load of rubbish if you ask me. big turning point coming IMO. 
Like a mafia war it has to happen to pull out the bad blood.

A florist today said her mortgage went up £500 a month as they fixed it at 4% for 5 years. 
Ima a lucky bugger for fixing mine for 10 at 2% as even I would be finding it a bit tricky. 
I have no other debt too. 

Debts bad only if you’re paying it. Ie. Your own mortgage. Interest goes up on a BTL, rents go up, not effect on Landlord. I suspect not much on MPs either, the last people in society to be left out of a pay rise I suspect  

Inflation always hits the lower echelons of society more than the upper. 

And in it only social uprising with brute force that disrupts this for relatively periods of time in between. And you don’t want to be around when it does. 

French revolution is a classic section of history. They use to terminate bankers for what is deemed perfectly legal by today’s standards! Bring back the guillotine I say!

[silversky]

5 hours ago, Silverman2U said:

Debts bad only if you’re paying it. Ie. Your own mortgage. Interest goes up on a BTL, rents go up, not effect on Landlord. I suspect not much on MPs either, the last people in society to be left out of a pay rise I suspect  

Inflation always hits the lower echelons of society more than the upper. 

And in it only social uprising with brute force that disrupts this for relatively periods of time in between. And you don’t want to be around when it does. 

French revolution is a classic section of history. They use to terminate bankers for what is deemed perfectly legal by today’s standards! Bring back the guillotine I say!

Be careful what you wish for.  Robespierre set about guillotining others in the reign of terror, before falling victim to it himself as the elites rotated in and out.  Utter chaos.  I seem to remember gold setting things straight in the end...

[SidS]

56 minutes ago, silversky said:

Be careful what you wish for.  Robespierre set about guillotining others in the reign of terror, before falling victim to it himself as the elites rotated in and out.  Utter chaos.  I seem to remember gold setting things straight in the end...

That's guillotining talk... Off with his head!

😁

[Silverman2U]

1 hour ago, silversky said:

Be careful what you wish for.  Robespierre set about guillotining others in the reign of terror, before falling victim to it himself as the elites rotated in and out.  Utter chaos.  I seem to remember gold setting things straight in the end...

…like I said… just don’t be around when it happens.  

There was a famous Italian family that’s been around for like 5 centuries… and they asked them how through all the wars in the world they did not loose their wealth? Their reply…

buy gold, art and property. Load up the art and gold and move it to a safe location away from war zone on the back of a wagon… then return after the war with deeds and reclaim your land… and maybe a few others on the cheap with your gold!  

…. they survived 2 world wars, the French Revolution, and a few other wars too.  

 

 

 

Edited October 7, 2023 by Silverman2U

[silversky]

IMPORTANT ATTACHMENT

The short book attached in this post is called "Fiat Money Inflation in France" by Andrew Dickson White, Professor of History at Cornell University.  It was published in 1912, and it is an extraordinary account of the disaster caused by fiat in France.

It is one of the best accounts which I have ever read of the French Revolution, because it is written specifically from a fiat currency point of view.  Most interesting!

It gives anyone interested in precious metals an excellent historical understanding of the madness of paper money, and details just how the chaos unfolds, who benefits at first, before themselves falling into the grinder as well.  It's only a 79 page document in reasonably large font, and it's more than worth an hour or two of anyone's time to read it.

Interestingly at the end when Napoleon takes charge, he's asked how he intends to fix the mess?  He replies, "I will pay cash or pay nothing"!!!

Enjoy. 

 

 

Fiat Money Inflation in France_2.pdf

[SidS]

1 hour ago, Silverman2U said:

…like I said… just don’t be around when it happens.  

There was a famous Italian family that’s been around for like 5 centuries… and they asked them how through all the wars in the world they did not loose their wealth? Their reply…

buy gold, art and property. Load up the art and gold and move it to a safe location away from war zone on the back of a wagon… then return after the war with deeds and reclaim your land… and maybe a few others on the cheap with your gold!  

…. they survived 2 world wars, the French Revolution, and a few other wars too.

You've been reading Jim Rickards - I remember the example as well.

[CANV]

silver will have its day.. alas it may only be a 'day' so be ready ! 

[Stacktastic]

2 hours ago, CANV said:

silver will have its day.. alas it may only be a 'day' so be ready ! 

It did in 2021 - literally 1 day.  
This is where my knowledge of swing trading will come into its own I hope? Sitting on a laptop sniping mining stocks like AG, whilst watching the spot like a hawk worked well as there was a few sections delay open the mining stock vs the spot price. When it tops buy a short & hold back to $30..  

I dont think we have long to wait actually with the state of the banking system, & shadow banking systems debt right now! 
Whist everyone scrabble for £3000+ gold the rest will swallow up silver I think?

Depends on the derivatives market really as its such a con. 
Its making me re think my physical silver collection as i must have at last 10-15kg? 
Sold a load when silver spiked in March, have not added it up since. 

Edited October 8, 2023 by Stacktastic

[Gruff]

5 hours ago, Stacktastic said:

It did in 2021 - literally 1 day.  
This is where my knowledge of swing trading will come into its own I hope? Sitting on a laptop sniping mining stocks like AG, whilst watching the spot like a hawk worked well as there was a few sections delay open the mining stock vs the spot price. When it tops buy a short & hold back to $30..  

I dont think we have long to wait actually with the state of the banking system, & shadow banking systems debt right now! 
Whist everyone scrabble for £3000+ gold the rest will swallow up silver I think?

Depends on the derivatives market really as its such a con. 
Its making me re think my physical silver collection as i must have at last 10-15kg? 
Sold a load when silver spiked in March, have not added it up since. 

Physical in your own possession, however much you can afford will go along way to helping with your financial situation when the SHTF event occurs

[silversky]

I have a feeling that all technical analysis of the PM's is out the window as of this weekend's terrible events.  What do people think gold and Silver will open at this evening?