Silver Monitoring Thread £ (GBP) only.

[mousefu]

2 minutes ago, DarkChameleon said:

Not too hard or it might scare off the drivers who took ituo, think $47/oz, dropped sharp and then stayed that way for 9 years.

I liked £15 an oz. If it goes back to £16 I will buy a couple hundred ounces. I'm trying to buy cheap and then sit on it for at least 10 years.

[DarkChameleon]

1 minute ago, mousefu said:

I liked £15 an oz. If it goes back to £16 I will buy a couple hundred ounces. I'm trying to buy cheap and then sit on it for at least 10 years.

Not going to happen unless everyone loses faith right now, some are just taking some chips off the table...will.buy into the rise again soon.

[Kookaburracollector]

Goldman Sachs new forecast released

The asset that stole the show on Monday, of course, was gold GCQ20, 0.18%,which climbed to $1,931 an ounce, the highest settlement in history. That juiced the crowd expecting $2,000 an ounce soon, and leads us to our call of the day from Goldman Sachs, which has ditched its own $2,000 forecast and says we’re going to see $2,300 an ounce in the next 12 months. 

The bank also lifted its silver outlook to $30 from $22 an ounce.

Lets hope they are right!

[Kman]

I'm just about to put a leveraged buy in at $24

Just waiting to get a nice clear candle above it for the green light 

Will have a tight stop loss 

As I'm typing though it looks like it's  getting rejected at 24, we shall see 

Edit> Dollar is rising tugging silver down, no go on leveraged buy for now 

Edit 2> looks totally off the table for now

Edited July 28, 2020 by Kman

[DarkChameleon]

1 minute ago, Kookaburracollector said:

Goldman Sachs new forecast released

The asset that stole the show on Monday, of course, was gold GCQ20, 0.18%,which climbed to $1,931 an ounce, the highest settlement in history. That juiced the crowd expecting $2,000 an ounce soon, and leads us to our call of the day from Goldman Sachs, which has ditched its own $2,000 forecast and says we’re going to see $2,300 an ounce in the next 12 months. 

The bank also lifted its silver outlook to $30 from $22 an ounce.

Lets hope they are right!

What they say and what they do, i wonder what their advice was back in 2011when the metals were almost 50 and over 1900?

---

Added 0 minutes later...

1 minute ago, Kman said:

I'm just about to put a leveraged buy in at $24

Just waiting to get a nice clear candle above it for the green light 

Will have a tight stop loss 

As I'm typing though it looks like it's  getting rejected at 24, we shall see 

Market digesting the fall...see what happens by 10am.

[mousefu]

16 minutes ago, DarkChameleon said:

Not going to happen unless everyone loses faith right now, some are just taking some chips off the table...will.buy into the rise again soon.

If not. I will do cost averaging. Best part of a long term strategy. You don't have to worry about the now.

[DarkChameleon]

1 hour ago, Kman said:

I'm just about to put a leveraged buy in at $24

Just waiting to get a nice clear candle above it for the green light 

Will have a tight stop loss 

As I'm typing though it looks like it's  getting rejected at 24, we shall see 

Edit> Dollar is rising tugging silver down, no go on leveraged buy for now 

Edit 2> looks totally off the table for now

Looks like your green light is shining.

[Kman]

20 minutes ago, DarkChameleon said:

Looks like your green light is shining.

Yeah I've gone for it, I think it's a mistake though

Should wait to see what the dollars going to do, it's stuck between 93.65-94

The best thing to do would probably be be wait for silver over $24 and dollar fall below 93.65

I've set a very tight stop loss now it's up a little, will only lose $2.90 so it's a low risk trade 

Edited July 28, 2020 by Kman

[DarkChameleon]

18 minutes ago, Kman said:

Yeah I've gone for it, I think it's a mistake though

Should wait to see what the dollars going to do, it's stuck between 93.65-94

The best thing to do would probably be be wait for silver over $24 and dollar fall below 93.65

I've set a very tight stop loss now it's up a little, will only lose $2.90 so it's a low risk trade now

Its making you money now...lol.

[Kman]

Just now, DarkChameleon said:

Its making you money now...lol.

Up $50.81 as I post, it might get rejected at 24.50 though see what happens

I think I'm just going to let it ride out, stop loss or up to $26 for me 😤

[DarkChameleon]

I think its vot a way to go....gold has made its money back above yesterdays close.

[DarkChameleon]

Its through..does your market close in 4 minutes...?

[Kookaburracollector]

2 minutes ago, DarkChameleon said:

Its through..does your market close in 4 minutes...?

If @Kman is using a CFD his market will probably close at the same time as yours in the USA...our stock market will close in about 30 mins time from this post...but the big boys trading club will continue for many hours to come!

Good timing on the trade @Kman..hope it works out well for you.

[Kman]

Just now, DarkChameleon said:

Its through..does your market close in 4 minutes...?

It's silver cfd on Etoro, it's open 23 hours a day weekdays, closed 10-11pm UK time and weekends

 

[DarkChameleon]

Just now, Kman said:

It's silver cfd on Etoro, it's open 23 hours a day weekdays, closed 10-11pm UK time and weekends

 

Nice.

[SPGfuntime]

39 minutes ago, Kman said:

Yeah I've gone for it, I think it's a mistake though

Should wait to see what the dollars going to do, it's stuck between 93.65-94

The best thing to do would probably be be wait for silver over $24 and dollar fall below 93.65

I've set a very tight stop loss now it's up a little, will only lose $2.90 so it's a low risk trade 

Well I wait for drop also and went on tea this morning just when it happened ( I know I drink tea also ahaha ).This will be classic huge noob mistake to buy now, but what a hell can risk 1000Eur, if by some miracle happen to profit even better, but probably losing. Anyway this 1000 eur will be in speculation purpose, the rest of stack will be in stack for next 100 years haha...

Edited July 28, 2020 by SPGfuntime
chabge text

[SPGfuntime]

By the way about $ what you wrote, that I am dealer I probably would not accept selling pm for $, why anybody would sell pm for huge fresh printed $. Euros and GBP are still not so much printed but can happen like in 2008 that go massive exchange of $ for Euros and yens so it can be come compromise also, but somehow to me look like better Euros or GBP..

[DarkChameleon]

1 hour ago, SPGfuntime said:

By the way about $ what you wrote, that I am dealer I probably would not accept selling pm for $, why anybody would sell pm for huge fresh printed $. Euros and GBP are still not so much printed but can happen like in 2008 that go massive exchange of $ for Euros and yens so it can be come compromise also, but somehow to me look like better Euros or GBP..

But the idea is to buy again later, hold cash or bonds to buy again in a year or so, i have an invesrment with maximum 5% drop so if money went south im only going down 5% which would be more then enough to buy pm after a 2011 correction.

[SPGfuntime]

Well ok you Americans are masters of finance, so would not worry, just say maybe in this moment I am not too comfortable with $. I am more classical staker, and this small amount I ve just buy for speculation purpose and not intention to do that more. With my luck that will be bad move but what a heck. If I gain small profit if silver go much up if not leave as a hedge. From this you can easily see I am 4th type of investors - those who mostly use pm as a some kind of hedge on worries of fiat. Bond and cash could be good for devaluation purpose, pm for inflator purpose. I have specialization in finance so I imagine I know something, but market will usually tell you do not know anything haha.

Edited July 28, 2020 by SPGfuntime
wrong word

[SPGfuntime]

And you are talking about devaluation process what have a lot sense I know as there is a lot of that now around..

[Russell]

18 hours ago, DarkChameleon said:

I cant say i didnt expect it, what suprised me was why they did it at $26 and not $25.

Because it is not silver they are watching it is Gold and they don't want it to stay above $2000.  silver is simply following gold so when they hit gold with massive paper sell orders to smash it silver instantly follows the gold drop.  The gold price is killing the dollar and that is a spike in the heart of MMT and the FED policies.

Edited July 29, 2020 by Russell

[Russell]

Today Powell will talk to the Peterson Institute for International Economics via webcast on the future strategy and he is expected to announce the continuance of vast money printing and the supression of the interest rates so I am expecting the precious metals to move up by Friday.  Goldman Sachs is warning of the end of the dollar as the world reserve currency so lot sof news coming for us 🙂

[DarkChameleon]

5 hours ago, Russell said:

Because it is not silver they are watching it is Gold and they don't want it to stay above $2000.  silver is simply following gold so when they hit gold with massive paper sell orders to smash it silver instantly follows the gold drop.  The gold price is killing the dollar and that is a spike in the heart of MMT and the FED policies.

Silver has bern trrading independantly of gold for a while now, its risefrom $12 to $26 has ot seen gold go from $1500 to $3500...its ratio has gobe from 70 to 120 pls and everyone knew there had to be a day of reconning which this is part off...i can see a settling coming at 70-1 again where people seem comfortable before dropping as some move over to gold from silver...but i dont think they have run alongside esch other since well before 2011.

[gji25]

the real reason is because of the covid19 scare.miners have not been able to mine gold/silver/whatever/. 

that in turn makes supply and demand . no supply. big demands = £$

[SPGfuntime]

22 hours ago, Russell said:

Because it is not silver they are watching it is Gold and they don't want it to stay above $2000.  silver is simply following gold so when they hit gold with massive paper sell orders to smash it silver instantly follows the gold drop.  The gold price is killing the dollar and that is a spike in the heart of MMT and the FED policies.

"1913 is when the Federal Reserve, which is actually a privately-owned central bank, took over the US banking system. As you can see, it's been pretty much downhill since the Fed took over. In fact, the dollar has lost over 96% of its value"

On another hand PM is always PM, infect stackers, if they must, mostly will use PM for exchange with goods, not paper money, and in really worst case scenario PM can play some kind role against devaluation also as replacement for paper money. In this case, it s not important how much PM is in paper money. So question is, how FED and rest will manage to balance all this...