Silver Monitoring Thread £ (GBP) only.

[Peterheat]

On 04/08/2020 at 17:23, mousefu said:

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

What do you mean by contracts? 

[Russell]

All looking good this is just the start of the run.  FT and Wall st press did a hit job on silver saying it was just robin hood speculators and silver is a bad investment (good sign they are buying).  The usual suspects saying the rise is overdone, christ even Gold and Silver bugs saying that there MUST be a sharp correction and the price will go back down again.  I saw all that as positive signs that they are going up.  Shorts trying to close, it is estimated it will take the heavy bank shorters 120 days to unwind their positions, J P Morgan has got huge orders in for Silver as well as Gold.  There is a supply shortage wholesale and now I hear there is a run on the COMEX.   Many caught out and I really do sympathise with people who have sold and then saw the big spike up because it is so difficult to get back in.  I am all in and happy to hold I think silver is formulating a base support at £20 now from which it could launch to fantastic highs.

Dollar in trouble

Bonds negative yields

China US tensions

Debt to GDP around the world at ridiculous highs

Money printer in overdrive and still going

No other safe havens left to challenge PMs

Virus still rampaging preventing any recovery

Happy to hold and see which planet we land on because we are going straight past the moon

disclaimer do not take my personal view as investment advice please do your own research I know nothing more than you 😉

[Russell]

As I was typing that silver hit £21 🙂

[ShinySilver]

I really wish I'd begun stacking a few months ago instead of only this week!  The joys of hindsight!

[Rll1288]

yeah agree with that..... My wife has been nagging me for months to buy silver... I finally did but wish (for once) i had listened to her 🙂

[ShinySilver]

More than happy to stay the course and shift away a bit from fiat money - just need to educate myself a bit more.  This is a cracking forum!

[Rll1288]

yeah I have learnt a lot in a short time and only wish I found it a few months ago....

[mousefu]

12 hours ago, Peterheat said:

What do you mean by contracts? 

ETFs

[vand]

What an incredible run silver has been on. It's not impossible that it could take out its ATH this year.

On 15th December 2015, Silver bottomed at £9.07, having lost 69% of its value from a peak of £29.26  and needed a 223% rise to get back to its all time high.

Today, silver has climbed 132% off its low, and now stands 28% from its all time high, needing another 39% to get back to that price. 

 

 

 

Edited August 6, 2020 by vand

[terakris]

Its great its climbing but i think we need it to settle so people can work out prices and premiums. There are wanted posts for "at a decent price" cos right now its hard to price stuff with it changing so much and I think some are finding it hard to pay £25+ per 1oz coin when a few weeks ago the same coin could have been £20ish. I sold some coins to a friend recently for under the current spot price, that was a week or so ago, so its moving fast. If it can just settle at say £21 then people can rework out the premiums on top to say £25 for non-vat sales per oz perhaps.

 

[InvestInCoins888]

In all likelihood we are going to be looking at paying £30 an Oz under current prices.

 

I think the good news is, I believe, a long way off the peek. Internationally there are no reasons I can see to interrupt this rally.

 

I don’t think you’ve missed the boat just yet gents!

[kojak]

38 minutes ago, terakris said:

Its great its climbing but i think we need it to settle so people can work out prices and premiums. There are wanted posts for "at a decent price" cos right now its hard to price stuff with it changing so much and I think some are finding it hard to pay £25+ per 1oz coin when a few weeks ago the same coin could have been £20ish. I sold some coins to a friend recently for under the current spot price, that was a week or so ago, so its moving fast. If it can just settle at say £21 then people can rework out the premiums on top to say £25 for non-vat sales per oz perhaps.

 

I agree to a degree but there also some people wanting yesterdays priced (say £18-18.50 an Oz spot) when todays prices are (£20-21 an oz spot).

 

Edited August 6, 2020 by kojak

[Kman]

I would be shocked if we don't have a good year left of rising PM prices, maybe 2 or 3

I'm annoyed at myself because I knew a silver etf is a winner, I've been saying it for a while yet despite that I haven't fully committed and I've got a lot of investment currency that should be working for me just sitting on the sidelines 

I keep expecting a decent pullback and then dillydallying while the price goes up another 15%+, I did top up at lower $23 but not nearly enough, I was thinking about $21-22 whilst it's now shot up to close to $28

It's time to stop thinking if only and actually commit to an investment properly 

We're due a pullback, maybe gold will hit $2100 first and silver $30 who knows, but on that pullback I will putting in a substantial amount and in a years time I will be thinking "great move" and not "if only"  

Edited August 6, 2020 by Kman

[Rll1288]

if it consolidates here for the next few days/weeks then it should climb higher....

[kojak]

.02 off a $ to hitting $28. Be nice for the market to hit a nice support for over the weekend then see what happens next week.

[Rll1288]

Years and Years ago I used to trade the ECU/DMK (before the Euro) and used Chart's a lot..... we will see a pull back... but the underlying trend is still higher with a lot of economic uncertainties underpinning it

[Kman]

Just for some reference, look at 2011 moves through $20-30 (in dollars)

Very clear and nice pullbacks to buy off of

2020 in comparison, unbelievable, pretty much just up, does that mean in comparison a much bigger pullback will happen when it does happen? I have no idea, I do feel like it's too easy atm, I feel like something has to happen to punish all the RobinHood investors.  I want my big buy opportunity 

 

 

[Rll1288]

Nice 🙂

[mrrick]

the rocket ship is still getting fuelled

we have lift off once we hit $50

[HerefordBullyun]

35 minutes ago, Kman said:

Just for some reference, look at 2011 moves through $20-30 (in dollars)

Very clear and nice pullbacks to buy off of

2020 in comparison, unbelievable, pretty much just up, does that mean in comparison a much bigger pullback will happen when it does happen? I have no idea, I do feel like it's too easy atm, I feel like something has to happen to punish all the RobinHood investors.  I want my big buy opportunity 

 

 

I think its going to a spike further then pullback massively. Then go to the moon. Also when the pullback happens I am buying again!

Edited August 6, 2020 by HerefordBullyun

[vand]

£21.50.. It Just Won't Quit

 

 

[KDave]

@Kman i am with you; where is the pull back? I have been looking for a trigger and thought USD was the key but perhaps not. What are the odds of a counter trend rally over the next 6 months. 

This reminds me of 2016, gold and silver took a dive after the US election when trump won. Same this year I bet, perhaps USD rally will coincide with the results. 

 

[vand]

3 hours ago, Kman said:

I would be shocked if we don't have a good year left of rising PM prices, maybe 2 or 3

I'm annoyed at myself because I knew a silver etf is a winner, I've been saying it for a while yet despite that I haven't fully committed and I've got a lot of investment currency that should be working for me just sitting on the sidelines 

I keep expecting a decent pullback and then dillydallying while the price goes up another 15%+, I did top up at lower $23 but not nearly enough, I was thinking about $21-22 whilst it's now shot up to close to $28

It's time to stop thinking if only and actually commit to an investment properly 

We're due a pullback, maybe gold will hit $2100 first and silver $30 who knows, but on that pullback I will putting in a substantial amount and in a years time I will be thinking "great move" and not "if only"  

Patience, grasshopper.
Now is not the time to be chasing returns..

 

[DarkChameleon]

6 hours ago, ShinySilver said:

I really wish I'd begun stacking a few months ago instead of only this week!  The joys of hindsight!

But in the last week you probably coveredyour premium to buy and cost to sell, not often you getthat covered in a week..normally takes months if not years to be in true profit.

[5huggy]

"FINAL "

Panic buying  - my bottom - its only JUST GOT STARTED!

!