Silver Monitoring Thread £ (GBP) only.

[DarkChameleon]

Hits $23 again

[DarkChameleon]

2 minutes ago, dicker said:

I can see the Daily Mail “this is money” section this weekend with an article on gold with big pictures of ingots.  I recon they re use the pictures and articles each time the price spikes

When its talking about gold crossin 1900 or silvers record pace onmost of the tv channels the buying will go hectic...ask peirs morgan, he made a pretty penny insider trading on mediahype.

Edited July 22, 2020 by DarkChameleon

[ChrisSilver]

4 hours ago, vand said:

**** your watch, I'm a ******* compass mate

Please do not try to get around the bad word filter by using other letters.

I am trying to keep the forum a friendly place without the need for members to swear at each other. Several members who have been disrespectful / sworn at other members were banned in the past. 

[Russell]

My initial plan was to trade between silver and gold using the GSR.  However as part of my research as a new silver stacker,  I have found there is a concensus that silver could become the "New Gold" in terms of scarcity which totally surprised me.  Even before the mines closed and the pandemic silver in 2019 became more in demand through new technology and yet harder to source from the ground.  I am now leaning more to the idea of just being a silver stacker and not bothering with gold.

Edited July 23, 2020 by Russell

[Paul]

silver below £18 - sell sell sell !!

we are heading to sub £10oz, the smack down has begun !

[kojak]

I'm surprised the price hasn't been dragged up a little bit more into the low 18s, especially as Gold seems to be rising nicely and is not far off its all time high. 

[goldmember44]

14 minutes ago, Paul said:

silver below £18 - sell sell sell !!

we are heading to sub £10oz, the smack down has begun !

Buy the dips from here would be a safer strategy

[Kman]

I just put a fair chunk of money in my account to buy more SLV 

I'm going to wait though I think both silver and gold are over extended atm, I'm expecting maybe 5 or 6% pullback sooner than later but who knows, probably go up  another 20% before we get that 5% pull back at this rate 🤠

[HighlandTiger]

16 hours ago, DarkChameleon said:

Silver buyers will cutyou up for junk cost at maybe 80% of spot, coin shops maybe 85 at a push, 95here and 100 on fleabay but 13% costs for ebay and paypal fees so here would be good.

Oi...!

 

Don't tell them 95% here, buyers will be expecting that everytime. 

 

Tell em it's 110% of spot on here and that is a good deal 😏

[TopHatsTales]

Just put a years SIPP contribution into SSLN this afternoon, so that's the kiss of death for silver.

Still had last years sat in there in April, put it all in SGLN. Currently up 15%.

Looking at the rest of the portfolio, HSBA, RDSB, EZJ, IMB etc, PMs are saving it. GSK up from the stocks. Smith funds also OK.

[Russell]

Interesting day,  I have been waiting for a tick back and in fact expected it yesterday.  So today there was multiple attempts to knock the price down but everytime it strongly bounced up 🙂  It got as low as £17.63 at one point.  Today was the best day yet because of the strength and speed of the rebounds showing that the buying is very strong. According to Chris at Arcadiaeconomics there are still four big banks still short on silver but they are losing $250m on every dollar silver moves north 🙂  I hear the herd is now engaged as they noticed that gold and silver are an alternative to tesla and Hertz LOL  If so a rocket is about to be lit 🙂

Edited July 24, 2020 by Russell

[goluckystayhappy]

It is $250 million they are losing per dollar rise.

[vand]

The short term mania phase has run into obvious resistance at $23/£18. 

Just a warning that while I do not recommend you sell any core positions and prices can easily shoot right through this level, don't be surprised to see some consolidation and a healthy pullback.

Nothing goes up in a straight line; by now you should know the nature of silver. It's volatile. To participate in the great bull market that is developing requires unflinching discipline to ride out the numerous corrections that we will encounter along the way.

[Russell]

According to Johnny Bravo on his youtube channel SLV is 16th on the Robinhood investors (tongue in cheek) chart 🙂 so it is confirmed the herd are moving in.  To be clear I own no paper silver at all and that is my choice I only believe in holding physical and I am not playing the market.  My motives for posting on here is to share information to fellow stackers/investors and not to ramp the paper price.  I have been constantly buying since March and the lowest I paid per ounce of fine silver is what I paid to Baird and that was £15 per ounce.  I made my last purchase on Monday morning which was a 100 ounce bar and 40 Britannias, even with VAT I still find Baird good value.  The Britannas came in at £20.59 each and I have just looked on Ebay, they are selling for as much as £31 actual bids!

[kojak]

Seems the robinhood millenials are doing what we used to call in sports trading 'chasing the money'.

Quite a lot of them are going to get burnt, like they will (or already have) on Hertz.

Takes time to build a bankroll and even quicker to lose it, no get rich schemes without gambling but far too many new 'traders' are naive to see this.

Still, might give the price a big push after the 29th!

[Russell]

11 hours ago, goluckystayhappy said:

It is $250 million they are losing per dollar rise.

Yes you are right I have amended it.  It is like when I look at the US debt clock I have to carefully count the number of zeros as the sums are getting ridiculous but I guess soon we will see 10 million dollar fed notes LOL

Edited July 24, 2020 by Russell

[DarkChameleon]

3 hours ago, Russell said:

Yes you are right I have amended it.  It is like when I look at the US debt clock I have to carefully count the number of zeros as the sums are getting ridiculous but I guess soon we will see 10 million dollar fed notes LOL

Being in america i know that nobody seems to care about the debt clock till democrats get in then they are crazybabout the debt whichis mostly republican made, you will almost never hear about debt under republicans, the second dems get in were all going to go bankrupt.

[Russell]

On 24/07/2020 at 13:45, DarkChameleon said:

Being in america i know that nobody seems to care about the debt clock till democrats get in then they are crazybabout the debt whichis mostly republican made, you will almost never hear about debt under republicans, the second dems get in were all going to go bankrupt.

I am English but I take more interest in American politics than our own.  Democracy is truly broken on both sides of the Atlantic I can't remember the last time a promise was kept.  They lie in their manifestos when they want your votes and then betray you as soon as they get in.  I just find the American ones so much more entertaining and funny.  I am enjoying the RVAT and Lincoln project adverts at the moment and this election promises to surpass Monty Python and Ricky Gervais in the comedy stakes.  I can't wait to see whose arm is up the back of Biden when he wins this year 🙂 I have to admit Trump even convinced me that he was going to reign in the spending and start to bring jobs back to the rustbelt and the farmers, might happen yet the way things are going with China but Trump needs a miracle now as Peter Schiff says America is speeding headlong towards socialism.  God help the ordinary folk this is going to be the lost generation 😞

Edited July 25, 2020 by Russell

[DarkChameleon]

If i wasto ask a trumpite how much the american debt purden wasnow they couldnt tell me, but the secod a dem gets in they could giveme it daily...every week during obama the debt was talked about, before trump even say down in the oval,oftice that country ending debt was added to by $1.5t as they gave the bank to the billionaires who had hidden it offshore...no more talk of debt, till it came time to increase social security orhealthcare then within seconds we were massivly in debt again.

[vacancies]

On 23/07/2020 at 11:14, Kman said:

I just put a fair chunk of money in my account to buy more SLV 

I'm going to wait though I think both silver and gold are over extended atm, I'm expecting maybe 5 or 6% pullback sooner than later but who knows, probably go up  another 20% before we get that 5% pull back at this rate 🤠

Not sure how much I trust the SLV and GLD ETF's.  Think they have oversold and dont have the metal to back it.  Could see an unwinding in the near future as the comex now has to deliver.  A stat on arcadia youtube said that if you add up all the paper contracts each oz has 500 owners.

[vacancies]

On 24/07/2020 at 09:29, Russell said:

According to Johnny Bravo on his youtube channel SLV is 16th on the Robinhood investors (tongue in cheek) chart 🙂 so it is confirmed the herd are moving in.  To be clear I own no paper silver at all and that is my choice I only believe in holding physical and I am not playing the market.  My motives for posting on here is to share information to fellow stackers/investors and not to ramp the paper price.  I have been constantly buying since March and the lowest I paid per ounce of fine silver is what I paid to Baird and that was £15 per ounce.  I made my last purchase on Monday morning which was a 100 ounce bar and 40 Britannias, even with VAT I still find Baird good value.  The Britannas came in at £20.59 each and I have just looked on Ebay, they are selling for as much as £31 actual bids!

Cant bring myself to buy the 100 oz bar from baird.  Worse value than the kgs and hard to shift.   But I really really really want it.

[mousefu]

On 24/07/2020 at 16:50, vand said:

The short term mania phase has run into obvious resistance at $23/£18. 

Just a warning that while I do not recommend you sell any core positions and prices can easily shoot right through this level, don't be surprised to see some consolidation and a healthy pullback.

Nothing goes up in a straight line; by now you should know the nature of silver. It's volatile. To participate in the great bull market that is developing requires unflinching discipline to ride out the numerous corrections that we will encounter along the way.

I would love a very healthy pullback. I buy £800 of silver a month. The cheaper it is the more I can buy. I'm in it for the long game. I'm going to hold off buying more if it hits £20 an ounce though, unless we manage to get rid of VAT on silver.

[supernova]

41 minutes ago, mousefu said:

I would love a very healthy pullback. I buy £800 of silver a month. The cheaper it is the more I can buy. I'm in it for the long game. I'm going to hold off buying more if it hits £20 an ounce though, unless we manage to get rid of VAT on silver.

Who do you buy £800 a month from?

[MancunianStacker]

20 minutes ago, supernova said:

Who do you buy £800 a month from?

I use silver-to-go for VAT free silver but there are others in Europe 

[mousefu]

4 minutes ago, MancunianStacker said:

I use silver-to-go for VAT free silver but there are others in Europe 

I Buy from bullionbypost. I'm not in the country at the moment so I keep it stored. I have had it delivered from storage before so I know it works and is safe. I will sell and change it to gold when the GSR hits sixty. Then wait for it to increase to 80 then rebuy.

 

Being outside of the country I'm restricted to how and where I can buy.