Silver Monitoring Thread £ (GBP) only.

[BackyardBullion]

Well, that escalated quickly after 6 days of quiet!

[Robda1986]

9 minutes ago, BackyardBullion said:

Well, that escalated quickly after 6 days of quiet!

Come on own up who stuffed a chilli up silver? 

[mrrick]

the mother of all pumps is coming i'm telling you

were gonna make silver great again 

[mousefu]

Decided to try buying some contracts bought them last week. So far so good. I am in it for the long haul.

Edited August 4, 2020 by mousefu

[vand]

Now just needs another 42% to take out the ATH. 

 

[HGr]

Glad I bought another 15oz today

[HerefordBullyun]

Nearly 20 an ounce coinsters bejesus!

[Bibbs]

I wonder what is causing this big movement, I have hear NHS staff have been given key worker letters this week.......wonder if a stricter more draconian lockdown is on its way and the 'insider's' know that. (I have heard 2nd week in Oct😭)

[Stu]

20 quid silver 👌

[HighlandTiger]

Just need it to get to £30 and I'll be selling my stack, pretty damn smartish. 

[HighlandTiger]

12 hours ago, Bibbs said:

I wonder what is causing this big movement, I have hear NHS staff have been given key worker letters this week.......wonder if a stricter more draconian lockdown is on its way and the 'insider's' know that. (I have heard 2nd week in Oct😭)

2nd week in October is the planned date for people to be allowed to go to sporting events. The PL and FL is banking on this happening, otherwise there will be a lot of clubs going under. 

[onlyroadtoheaven]

12 hours ago, Bibbs said:

I wonder what is causing this big movement, I have hear NHS staff have been given key worker letters this week.......wonder if a stricter more draconian lockdown is on its way and the 'insider's' know that. (I have heard 2nd week in Oct😭)

Oh no, has Dave from the pub been saying stuff again?? Of course everyone loves a conspiracy, except for those that it plunges into deep anxiety. I have known many suffer in a severe way through this so you should be careful with unknown dates or facts.

Anyway, silver looks strong. I am glad it took a breather. I am also pleased for those newbies that came to the forum a few months back worried about premiums. They should be realising a nicer profit now.

[Oldun]

Silver mirrors inflation/deflation. Now real unpaid for “free” money is awash in the real economy (whilst companies go deep into the red) via furlough payments etc, silver smells real inflation. Up until now, banks etc have gotten their mitts on the “free” money and has been leveraged out to create the stockmarket rise through buybacks etc. so the real economy hasn’t seen any real inflation....until now....silver isn’t known as “the widow mkaer” for nothing. It will do nothing for decades and the become a beast in both directions before lying dormant for ages again once inflation is under control again. Silver and gold smell real world inflation in the pipeline.

Edited August 5, 2020 by Oldun

[fireblade4life]

Oh SNAP! what the hell happend to the silver price? is this to do with Covid...

[Pohaku]

I'm no economist, but suspect that many are only just starting to accept the actual impact Covid is going to have. Until now, while it has devastated many, the various measures like furlough support, debt holidays, and business grants have mitigated things and most people haven't felt actual hardship as a result. As much as it's been insane by any measure, the majority still don't see the chasm that lies ahead. I mean, people are still pretending that all kids are going back to school full time in September because a politician once said so, despite the plainly obvious signs that this is not going to happen.

As the financial support starts to dry up and things start to get REALLY bad for the masses, I expect that whatever financial/economic factors that have pushed prices of metals up since March will be amplified, and perhaps this current push is the beginning of that?

[Oldun]

10,000,000 Brits on the furlough scheme and a huge number of those will be sacked after the government ends the scheme (unless they print money forever in which case gold and silver will have no upper limit) ....the carnage will be something to behold....oh, and delayed rent will have to be paid and the protection will be removed from being turfed out by landlords as landlords have bills to pay on theor properties too.

 

It will be carnage.

https://www.bbc.com/news/explainers-52135342

Edited August 5, 2020 by Oldun

[Oldun]

I highly highly recommend everyone read the whole of the article linked above...then times that by families and what they spend on things....it will be truly breathtaking...

[Gruff]

I fear the media are driving a lot of this fear mongering, it's all that sells nowadays. But life is about to get very real and very difficult for a huge portion of the population in the next 8 weeks. 

Quite what that will do to metals prices remains to be seen. I'm hugely optimistic on that.

[vand]

Silver and gold are going up in all currencies, not just GBP.... price action does not reflect news. Price action foreshadows trends and front runs events that eventually make the news.

The secular driving factors are the same as they have been for the last 2 decades - unsustainable increases in national debt and central bank policy that increases the risk of systemic failure.  We had a cyclical breather between 2011 - 2015 while technologies like cloud and shale oil offered temporary respite, but these have been overwhelmed by the ongoing tide of government profligacy.

Nobody said that the progress has to happen in a straight line or at a constant pace. That would be too easy.  We've had slow, stuttering periods.. now we're in the middle of an accelerated period. Roll with the punches and keep a long term perspective.

 

[HerefordBullyun]

26 minutes ago, Gruff said:

I fear the media are driving a lot of this fear mongering, it's all that sells nowadays. But life is about to get very real and very difficult for a huge portion of the population in the next 8 weeks. 

Quite what that will do to metals prices remains to be seen. I'm hugely optimistic on that.

Well strap in for the PM prices we are only at the top of the iceberg. 

Edited August 5, 2020 by HerefordBullyun

[ApisMellifera]

Keep Calm and Keep on Stacking 😄

https://youtu.be/X6xHVrccrOo

 

 

Edited August 5, 2020 by ApisMellifera

[KDave]

16 minutes ago, ApisMellifera said:

Keep Calm and Keep on Stacking 😄

https://youtu.be/X6xHVrccrOo

 

You return at an interesting time sir, I hope you have been keeping well 

[Oldun]

I would say the 30 year gilt and gold have a very strong correlation

https://www.tradingview.com/chart/?t=1022baceea61baf551e24a7b43f3ca
 

[Martlet]

45 minutes ago, Oldun said:

Silver mirrors inflation/deflation. Now real unpaid for “free” money is awash in the real economy (whilst companies go deep into the red) via furlough payments etc, silver smells real inflation. Up until now, banks etc have gotten their mitts on the “free” money and has been leveraged out to create the stockmarket rise through buybacks etc. so the real economy hasn’t seen any real inflation....until now....silver isn’t known as “the widow mkaer” for nothing. It will do nothing for decades and the become a beast in both directions before lying dormant for ages again once inflation is under control again. Silver and gold smell real world inflation in the pipeline.

So what you say is silver front runs, not mirrors, inflation.  This will be important if inflation doesnt materialise, does that lead to a sharp fall?  And what if we do see inflation at modest levels, managed by low interest rates?  I dont believe the old ideas necessarily work anymore, if they ever did. 

[HerefordBullyun]

1 hour ago, HighlandTiger said:

Just need it to get to £30 and I'll be selling my stack, pretty damn smartish. 

Why? just wait till it hits 40.