Silver Monitoring Thread £ (GBP) only.

[Leonmarsh]

Having had both gold and silver and now have none, not a bean, and there is more gold in a gold leafed tomhawk steak there is nothing like a a kilo bar of silver 

[ZRPMs]

7 minutes ago, Leonmarsh said:

Having had both gold and silver and now have none, not a bean, and there is more gold in a gold leafed tomhawk steak there is nothing like a a kilo bar of silver 

What about a 5kg bar 🧐

[James32]

Just now, ZRPMs said:

What about a 5kg bar 🧐

Of gold? Never had one tbh, but each to their own

[HonestMoneyGoldSilver]

19 minutes ago, Bigmarc said:

I am on here loads, never noticed and you don't come across this way, I block anyone that actively goes out of their way to cause conflict in someone's own personal investment choice. 

The only exception is @HonestMoneyGoldSilver around crypto as find it amusing. 

I am top heavy on silver but I would say it was more of a passion and I have done pretty well out of it (compared to my other choices). Have a hand full of sovereign's but haven bought in ages

Glad to be of service 😂

I usually add a disclaimer that it's more profitable not to listen to me when it comes to crypto, at least in the short term. Crypto is a scam though and it's only a matter of time before this becomes evident. What am I saying? It's already become evident. The largest entities in the cryptosphere are corrupt as all F:- 3AC, Celsius, Terra, FTX, Binance, Tether ...

Silver and gold are where it's at - HonestMoney 👼

We're still good on silver to keep thread on track, +0.56% today in GBP from £19.59 to £19.74 currently

[Bigmarc]

5 minutes ago, HonestMoneyGoldSilver said:

It's already become evident. The largest entities in the cryptosphere are corrupt as all F:- 3AC, Celsius, Terra, FTX, Binance, Tether

It's already become evident. The largest entities in the precious metals sphere are corrupt as all F:- JP Morgan, deuche bank, HSBC, Morgan Stanley, Barclays..... 

As long as an individual understands the market they are operating then can be profitable.

[HonestMoneyGoldSilver]

5 minutes ago, Bigmarc said:

It's already become evident. The largest entities in the precious metals sphere are corrupt as all F:- JP Morgan, deuche bank, HSBC, Morgan Stanley, Barclays..... 

As long as an individual understands the market they are operating then can be profitable.

Don't make me talk about crypto 😂

I agree trading in crypto can be highly lucrative (volatility of any kind, up or down = profit), the thing is you have to know they are a scam, get in, make your money, and get out. That's different to gold and silver which you can hold forever and expect to break-even or better in real terms. I do like some cryptos like XMR but these will never be allowed to flourish. The crypto hardcore advocates and the crypto exchanges themselves do not promote XMR or any privacy coin. The exchanges want everyone on blockchains they can effectively analyse or in their ecosystem, just like Apple. Get them in, keep them in and milk them for all they are worth. FTX tokens anyone? Binance coin? 

Crypto is a get-rich-quick scheme. Nobody wants to hold it forever, they want to transition back into actual money - USD. Gold and silver we want to hold forever, pass on to the next generation. We don't have to transition into fiat or any other asset because gold and silver ARE money, the only real money there has ever been and the only real money there ever will be

[Bigmarc]

25 minutes ago, HonestMoneyGoldSilver said:

Crypto is a get-rich-quick scheme. Nobody wants to hold it forever, they want to transition back into actual money - USD

Exactly zero use case and 100% on sentiment and what people "think" is going to happen. Same as gold. Silver follows in the footsteps of its big brother and gold is driven by sentiment. 

I am a massive fan of sliver and to be honest I am probably emotionally attached (don't know why) but I will sell when the sentiment swings. I have been burnt on shares and will never touch them again. Luckily I have never been sold fake gold yet and not been scammed with silver. Crypto is a cess pool of degenerates and strangely enough I am quiet comfortable there, most probably be burnt at some point.

 

 

 

[Earthmetal]

VHS V Betamax. VHS won despite Betamax being better.

[SidS]

12 hours ago, Darr3nG said:

Spectrum v Commodore 64

Oasis v Blur

Same as it ever was...

Betamax 😁

[Zinho]

13 hours ago, HonestMoneyGoldSilver said:

Glad to be of service 😂

I usually add a disclaimer that it's more profitable not to listen to me when it comes to crypto, at least in the short term. Crypto is a scam though and it's only a matter of time before this becomes evident. What am I saying? It's already become evident. The largest entities in the cryptosphere are corrupt as all F:- 3AC, Celsius, Terra, FTX, Binance, Tether ...

Silver and gold are where it's at - HonestMoney 👼

We're still good on silver to keep thread on track, +0.56% today in GBP from £19.59 to £19.74 currently

It doesn't stop you from hopping on the merry go round and then hopping off when it looks like the music is about to stop. 😃

[HonestMoneyGoldSilver]

3 hours ago, Zinho said:

It doesn't stop you from hopping on the merry go round and then hopping off when it looks like the music is about to stop. 😃

It does if jumping on that merry go round creates negative consequences for the society you live in. If you sell at the peak and make a killing that means some sucker bought at the peak and died. I am an ethical investor, I put my money in things I want to see succeed and that will benefit society. The march towards cryptocurrencies and CBDCs is a march straight into hell - BTC is a trojan horse created by the CIA to acclimatise the masses to CBDCs

I didn't always feel that way. I used to only think in terms of my own greed and not care about anything else as long as I got my cut. In a nutshell that's the problem with the whole world, right? Be the change you want to see

I want to be free and I want to sleep well at night. I do not want to rely on subscription this, digital that, the just-in-time philosophy of the neo-liberal nightmare. Owning gold and silver instead of cryptocurrency and debt instruments helps ease my mind

Sorry for the rant people really shouldn't poke my cage on crypto 😂. Apologies if anyone took offence.

Silver is actually up so far today due to normal trading but flat due to the strengthening USD (DXY), same for gold:

[ArgentSmith]

Up 1.3% today, circa 474% per annum. 

😃

[Zinho]

7 hours ago, HonestMoneyGoldSilver said:

It does if jumping on that merry go round creates negative consequences for the society you live in. If you sell at the peak and make a killing that means some sucker bought at the peak and died. I am an ethical investor, I put my money in things I want to see succeed and that will benefit society. The march towards cryptocurrencies and CBDCs is a march straight into hell - BTC is a trojan horse created by the CIA to acclimatise the masses to CBDCs

I didn't always feel that way. I used to only think in terms of my own greed and not care about anything else as long as I got my cut. In a nutshell that's the problem with the whole world, right? Be the change you want to see

I want to be free and I want to sleep well at night. I do not want to rely on subscription this, digital that, the just-in-time philosophy of the neo-liberal nightmare. Owning gold and silver instead of cryptocurrency and debt instruments helps ease my mind.

 

With all due respect, that's not entirely how markets work. Yes there is always a taker, but just because I sold my bags at the top and someone may have just bought it, in an asset class with an increasing market cap not everybody gets reemed out. 

[silversky]

19.99 and knocking on the £20 door.

[silversky]

5 min chart...

[HonestMoneyGoldSilver]

12 minutes ago, silversky said:

19.99 and knocking on the £20 door.

[HonestMoneyGoldSilver]

1 hour ago, Zinho said:

With all due respect, that's not entirely how markets work. Yes there is always a taker, but just because I sold my bags at the top and someone may have just bought it, in an asset class with an increasing market cap not everybody gets reemed out. 

If you sell at the peak by definition your counterparty has booked a loss

[Zinho]

21 minutes ago, silversky said:

19.99 and knocking on the £20 door.

Holding above £21.6 for 3-6 months is when we can begin to crack open the champagne 

[silversky]

43 minutes ago, Zinho said:

Holding above £21.6 for 3-6 months is when we can begin to crack open the champagne 

When this finally pops, it could easily put on 20% in USD in a matter of weeks.  In GBP, that could be anywhere around the £23 handle very quickly.

[Bigmarc]

58 minutes ago, HonestMoneyGoldSilver said:

If you sell at the peak by definition your counterparty has booked a loss

From Feb to April 2021 the spot price of silver was lower than it is today yet bullion was selling at £30 per ounce. Today I can pick some up at £24 per ounce. All this was due to a "supposed" shortage of blanks and the silver squeeze chaps.

I may or may not have off loaded a little at this point but what would the spot price have to reach before my counterparty sees a return? Would I have been wrong to try and maximise my profit?

[theman73]

2 minutes ago, Bigmarc said:

From Feb to April 2021 the spot price of silver was lower than it is today yet bullion was selling at £30 per ounce. Today I can pick some up at £24 per ounce. All this was due to a "supposed" shortage of blanks and the silver squeeze chaps.

I may or may not have off loaded a little at this point but what would the spot price have to reach before my counterparty sees a return? Would I have been wrong to try and maximise my profit?

Nothing is real, all is manipulated to serve one side or another.

[silversky]

In a couple of hours time, the monthly gold chart is about to be painted with an all time high close.  And the closes matter.  It's only a short push to all time intraday highs, and if it breaks through, then there will be a big reach upwards over a long time frame.  High inflation has been chipping away all around the world for a couple of years now, and the pressure to devalue all fiat currencies against PMs is real.  Silver will be pulled up in tandem, and this is why I think 20% in short order is easily possible.  Perhaps even upwards of 35% in a big lunge.  The last big leg up in Silver was in March this year.  It put on 30+% in USD and 25% in GBP.  Those moves will likely be eclipsed when the next pop happens.  Three big peaks in gold is a little ominous though, and a third failure to continue higher would signal a deep retracement.  I'm 70/30 on the break upwards.

 

Edited November 30, 2023 by silversky

[gji25]

On 29/11/2023 at 16:31, ZRPMs said:

The problem with silver is the VAT issue. I don't mind silver. In fact I have far more silver than gold, but why put myself in the hole for 20%

Vat ?

 

[ZRPMs]

6 minutes ago, gji25 said:

Vat ?

 

The bit that HMRC skim of the top of anything new and those selling second hand try their best to recover from the new purchaser that is on top of spot but not classed as premium.

Edited November 30, 2023 by ZRPMs

[HonestMoneyGoldSilver]

1 hour ago, Bigmarc said:

From Feb to April 2021 the spot price of silver was lower than it is today yet bullion was selling at £30 per ounce. Today I can pick some up at £24 per ounce. All this was due to a "supposed" shortage of blanks and the silver squeeze chaps.

I may or may not have off loaded a little at this point but what would the spot price have to reach before my counterparty sees a return? Would I have been wrong to try and maximise my profit?

Semantics but we were discussing crypto not silver. The idea with crypto is to pump and dump, that's what it's all about with perhaps the exception of BTC - not due to inherent value in BTC but because when people pump and dump other digital assets they re-transition back to BTC (or ETH). Look at NFTs historically or Ordinals today. Cristiano Ronaldo and Binance - Ronaldo is being sued for > $1 billion due to losses suffered on the NFTs he pushed on behalf of Binance. The original sale price was $79 and the current price is less than $1 if I remember correctly.

I have friends who made fortunes from NFTs and cryptos (they were part of the admin group front-running NFTs). I've asked them straight would they buy those items for the price they sold at or do they wish they still owned those items. Can you guess their response? Indeed. They knew their NFTs were intrinsically worth nothing and they were using momentum, FOMO and "community" to essentially con people into paying tens of thousands, even hundreds of thousands, for nothing of intrinsic value in return

That's different from your silver example. It's virtually certain that silver bullion will exceed £30/ounce within our lifetimes or a period much shorter than that. You didn't try to deceive anyone by flogging them an asset with zero intrinsic value. You offered a trade for fair market value and they accepted. There's nothing wrong with profit or managing your own risk. IMHO you should treat your counterparties as you would like to be treated so that rules out one-sided trades. Everybody should ideally benefit and certainly nobody should be ruined

What is the purpose of a business? If you answered, "to make money", sorry, wrong answer. The purpose of a business is to serve and through service you make sustainable profit.