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Silver Monitoring Thread £ (GBP) only.


Message added by ChrisSilver

To discuss price action in USD instead, please see here: https://thesilverforum.com/topic/19861-silver-monitoring-thread-usd-only/

 

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Inflation in USA is already moving and this is only what is official.  They need to do something urgent and it seems like they do not even care at all;


https://wgme.com/news/coronavirus/grocery-store-prices-have-skyrocketed-amid-coronavirus-pandemic

"Grocery store prices are increasing. From February to June, meat and poultry prices rose nearly 11 percent. Beef and veal prices increased 20-percent. Egg prices are up 10-percent, and cereals and fresh vegetables are up 4-percent."

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16 hours ago, Empire said:

The premiums for physical silver is crazy. Anyone else put off by this? 15% underwater straight away, and that's assuming you can get VAT free 🤔 Definitely leaning towards a physical ETF to be honest, at least it's easy to

40 minutes ago, SPGfuntime said:

Inflation in USA is already moving and this is only what is official.  They need to do something urgent and it seems like they do not even care at all;


https://wgme.com/news/coronavirus/grocery-store-prices-have-skyrocketed-amid-coronavirus-pandemic

"Grocery store prices are increasing. From February to June, meat and poultry prices rose nearly 11 percent. Beef and veal prices increased 20-percent. Egg prices are up 10-percent, and cereals and fresh vegetables are up 4-percent."

Jobs went up but new unemployed wiped out two thirds of that, stimulous is on the brink of collapse so too volitile to be starting to get into silver today but hold it if you got it, thinks aint going to be suddenly rosy by monday.

 

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Very probably, wall street is disconnected from real world long time ago, they have their algorithms haha, so nothing unusual.You will get different value for your PM in most of world than wall street saying, so who cares what they show in fake paper money. They can show 0$ or 10000$ no important at all as you get your value on street.That s advantage when you get physical over paper gold or silver ;-). You can easily see that in Venezuela, Lebanon as extreme, but also in rest of world :-)

Edited by SPGfuntime
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2 minutes ago, Robda1986 said:

Probably to the £20 per oz but people were saying at 20 per oz there would be a pull back 

Yes I've also been calling for a pullback for a while now lol

I think we might get another 4-6% down from here

 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Well this is looking good, silver went to £22.74 0100 this morning. I couldn't go to bed I was fixed to the screen lol but even better than that rise is the price now £21.26.  It is Friday and there is a lot of profit taking taking  by the impatient grabbing the little profits they have made.  The big pull back all the pundits have been forecasting for two weeks now is happening now IMO this is it and it is so small.   This is fantastic and confirms my information that 4 big shots are deep in it up to their butts in heavy shorts that are going to take months to wind down.  Hell of a lot of pressure to push up, Monday should be very good.  Have a good weekend everybody and stay safe 😉

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2 hours ago, Robda1986 said:

Probably to the £20 per oz but people were saying at 20 per oz there would be a pull back 

$20 turned out to be $23 then the pull back ... i dont see lower then we hit today, friday is the day to get out, monday will be the first day without unemployment extra money...that is going to shock the market here and if we get a shock you get a shock....lol

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We've had an incredible last 4 months - it will take more than just a couple of days or even weeks for the correction to play out.  Now is not the time to be aggressively adding to your positions.

Back in the early 2000s bull market silver would typically correct 30% from this sort of position and then spend 12-18 months building back up to its old highs. 

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personally I hope we see £18 again from people profit taking... if you look at this market (Silver Forum) I have only been on for a short while but I can see many people selling there longs (presumably when it was much lower) on items where you would think the market would have them higher. If you get my drift..

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10 hours ago, Bibbs said:

Well don't say I didn't warn you, if you haven't noticed, every government in the WORLD is in total lockstep right now, but you thought that would never happen either. 

People have been predicting the end of the world and the arrival of a New World Order every day of my life , (all 55 years of it), and for decades before. We are told to believe there are puppet masters pulling strings to bring this about. Sorry, but its all a fiction. Humans are just not that good at keeping secrets or putting together long term plans. In fact we're useless at it.

Everything you see today is because the human race is a selfish beast, and because we cant organise a piss up in a brewery, not because of the machinations of an evil overlord. You give the human race wayyyyyyyyy too much credit.

I know that world of PM stacking is conspiracy central, and I know I'm in a tiny, tiny minority that frequent this site, but having been obsessed with and researched conspiracies and other similar topics for over 30 years, this is the conclusion I've come to. 

oh and for the record, pandemics have been around since recorded history began, so to think the world being in lockdown is new, shows how little people know about history. Personally I loved the conspiracy stories that circulated in March, especially the Spanish Flu pandemic being exactly 100 years ago, except for the glaring error in that that pandemic started in around 1916.  

 

However, back to the topic. Silver prices,.......... the world is full of people who believe any old nonsense they can read online, so I think all bets are off when it comes to predicting market movements with regards to PM's

Edited by HighlandTiger
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26 minutes ago, vand said:

We've had an incredible last 4 months - it will take more than just a couple of days or even weeks for the correction to play out.  Now is not the time to be aggressively adding to your positions.

Back in the early 2000s bull market silver would typically correct 30% from this sort of position and then spend 12-18 months building back up to its old highs. 

March 6th silver was $17.50 then the liquidity crisis

It took until June 25th to get back to $17.50 so I think you can say a recovery through March, April, May and June was steady but not particularly quick 

July 8th is really where silver started breaking out so I'd say it's been an incredible 4 weeks

In 2011 when silver went from $18-50 the biggest pullback was 15%

silver2011.thumb.png.31cd14c652c48c2947213a5322cb6ea8.png

2011 did have a lot of smaller healthier little pullbacks though 

Silver does look over extended atm but to fall back 30% then take 12-18 months to recover I would be shocked, I'd more expect 2011 45 days ish for the drop and recovery

But it depends a lot on what the dollar is going to do, I think we're a couple weeks away from it going back on a healthy decline 

Time will tell, it's fun to try and predict and guess

I'm happy that silver is going to $50+ in the next two years so anything in the 20s is fine but lower 20s obviously preferred 

Edited by Kman

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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15 minutes ago, HighlandTiger said:

People have been predicting the end of the world and the arrival of a New World Order every day of my life , (all 55 years of it), and for decades before. We are told to believe there are puppet masters pulling strings to bring this about. Sorry, but its all a fiction. Humans are just not that good at keeping secrets or putting together long term plans. In fact we're useless at it.

Everything you see today is because the human race is a selfish beast, and because we cant organise a piss up in a brewery, not because of the machinations of an evil overlord. You give the human race wayyyyyyyyy too much credit.

I know that world of PM stacking is conspiracy central, and I know I'm in a tiny, tiny minority that frequent this site, but having been obsessed with and researched conspiracies and other similar topics for over 30 years, this is the conclusion I've come to. 

oh and for the record, pandemics have been around since recorded history began, so to think the world being in lockdown is new, shows how little people know about history. Personally I loved the conspiracy stories that circulated in March, especially the Spanish Flu pandemic being exactly 100 years ago, except for the glaring error in that that pandemic started in around 1916.  

 

However, back to the topic. Silver prices,.......... the world is full of people who believe any old nonsense they can read online, so I think all bets are off when it comes to predicting market movements with regards to PM's

The thing you you missed is its not a secret, find the vid of George Bush Sr stating 'they have a great opportunity to bring about a new world order'. Then find the vid of Gorden Brown saying it, and Obama and many many others. Then find the vid of all the world leaders doing that weird triangle hand symbol thing. 

Please often say 'that can't happen someone would have said something' but at the same time no really that people are saying something. I had this happen, people saying SOMEONE would say something the secret is to BIG to keep......not realising the only reason am telling them this stuff is because the secret has got out. 

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26 minutes ago, Bibbs said:

Then find the vid of all the world leaders doing that weird triangle hand symbol thing. 

Errrr that's something I also do on occasions, it harks back to me copying an old geography teacher of mine who used to do it while pointing at people. lol, people will latch onto the most ridiculous things. However, this thread is not the place to regurgitate the latest rumblings of conspiracy corner. I suggest we get back to the thread which is silver prices. 

 

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3 hours ago, Russell said:

 It is Friday and there is a lot of profit taking taking  by the impatient grabbing the little profits they have made.  😉

Quite possibly but there's also funds and other bigger investors who will be rebalancing their portfolio positions, which is pretty normal whenever an asset goes up in price significantly. For example, if a fund specified 10% in commodities (e.g. PMs) and the new price rises took it to 12% it would need to sell off the 2% to comply with the fund manager's mandate. This is especially true if their equities position has taken a pummeling from the coronovirus price drops in March, which will amplify these kinds of imbalances.

Could also be that the gold:silver is low enough that some investors are cross-decking over to gold. Not the worst idea really if you're holding over 100 Troy Oz of silver: you can convert some while still holding a decent silver position for future gains.

You could be right of course but I suspect that a lot of it (based on the swathe of negative forecasts for global economies recently) is more likely to be asset shuffling than cashing out.

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