Silver Monitoring Thread £ (GBP) only.

[Pete]

Sit tight and wait or start selling ??

Still not at £30 per ounce but check the prices of bullion coins today.
Will this upward trend continue or are we at the peak ?
I cannot believe the demand on dealers after the recent rises - silver and gold.
Might be a seller's opportunity to consider de-stacking.
 

[Kman]

1 hour ago, Pete said:

Sit tight and wait or start selling ??

Still not at £30 per ounce but check the prices of bullion coins today.
Will this upward trend continue or are we at the peak ?
I cannot believe the demand on dealers after the recent rises - silver and gold.
Might be a seller's opportunity to consider de-stacking.
 

We just started the metals bull run, this is a discussion to have maybe at £40+ per oz 😎

 

[Pete]

25 minutes ago, Kman said:

We just started the metals bull run, this is a discussion to have maybe at £40+ per oz 😎

 

I like your answer £40+ per ounce. 😎
Do your tea leaves predict this level in the next 6 - 12 months ?
I really would like to believe this is possible ... BUT ... to be continued 🤔

I just checked the 3 month percentage growth figures - even more startling - but applying Newton's laws -

Let's not forget to add a further 20% VAT which becomes unavoidable next January so ending the deals from our European suppliers.
 

Edited August 10, 2020 by Pete
Added chart

[HawkHybrid]

I'm with pete on this one.

@Kman what does the odds of gold $2160, silver $36, gsr of 1:60 data tell you?

(imo if we approach these numbers, those who are able should consider taking profits)

 

HH

Edited August 10, 2020 by HawkHybrid

[Kman]

Just now, Pete said:

I like your answer £40+ per ounce. 😎
Do your tea leaves predict this level in the next 6 - 12 months ?
I really would like to believe this is possible ... BUT ... to be continued 🤔

We need some pullbacks in price first for predictions because then you can start plotting trend lines up

Then if you assume the trend lines are going to hold for few months, which is anyone's guess if they do, you could predict the lowest price silver should be by a date (but not the peak)

26 minutes ago, HawkHybrid said:

 what does the odds of gold $2160, silver $36, gsr of 1:60 data tell you?

Not a lot, it got down close to 30 in 2011 and I would be surprised if we don't see something similar. But my surprise isn't worth very much 

 

[goldmember44]

36 minutes ago, HawkHybrid said:

I'm with pete on this one.

@Kman what does the odds of gold $2160, silver $36, gsr of 1:60 data tell you?

(imo if we approach these numbers, those who are able should consider taking profits)

 

HH

We are going to get to those numbers, for sure. But I won't take profit there, unless I'm in need of cash then I'll liquidate just enough. It's still far off from hyperinflation levels.

[sixgun]

The fiat currency system is collapsing - all bets are off. When the bottom falls out the price will head to infinity, not that an infinite amount of nothing adds up to much. 

[MancunianStacker]

4 minutes ago, sixgun said:

The fiat currency system is collapsing - all bets are off. When the bottom falls out the price will head to infinity, not that an infinite amount of nothing adds up to much. 

A good reason to fix your interest rate now 😉 

[Stu]

13 minutes ago, MancunianStacker said:

A good reason to fix your interest rate now 😉 

I've never read the small print of any of my mortgages however I would be highly surprised if there was no clause stating in the case of hyper inflation , your repayment will be adjusted accordingly? Banks and insurance companies never seem to miss a trick

I hope you are right though, cause I still have 6 years to run on a 10 year fixed rate deal. Quite high by today's rates but could easily change. 

Funnily enough, I noticed with even our last holiday to Cyprus, they had a clause stating that if costs rise by more than 10% in the intervening period, they reserve the right to charge the difference.

[vand]

Silver has gone into Wiley Coyote mode here and carried on going up when gold has fallen back today.  GSR now printing with a 69.x handle.

Is this a case of the tail wagging the dog?

[Kman]

Another way to look at whats happening is the dollar just fell out of an almost decade long upward trend

Silver just broke out of a multi-year trend

Have multi year trends broken just to faff about for a month or two?

This is silver (blue) overlayed on the dollar

Who would bet on the dollar and silver crossing and going opposite ways like they did in 2011?

They will also probably start the crossover with silver 50% higher than it was in 2011 

If it makes the same % gains from $20 to 50 then it should be $30 to $75 

Pie in the sky but fun to guess 

Edited August 10, 2020 by Kman

[MancunianStacker]

35 minutes ago, Stu said:

I've never read the small print of any of my mortgages however I would be highly surprised if there was no clause stating in the case of hyper inflation , your repayment will be adjusted accordingly? Banks and insurance companies never seem to miss a trick

I hope you are right though, cause I still have 6 years to run on a 10 year fixed rate deal. Quite high by today's rates but could easily change. 

Funnily enough, I noticed with even our last holiday to Cyprus, they had a clause stating that if costs rise by more than 10% in the intervening period, they reserve the right to charge the difference.

Many old BTL tracker mortgages have no “floor” so in case of negative rates you could end up paying £0 per month whilst the term of the mortgage is still going. I didn’t change mine because of this 😁 

Modern trackers have floors just in case we go negative. Anything is possible now.

Details will be in the mortgage offer. But if it is fixed and the offer states £650 per month, that’s what you pay, hyperinflation or not. You could also overpay it, and take the hit on any early repayment charge if necessary. Maybe one day we can pay of our mortgage with a few ozs. 😉 

[HawkHybrid]

38 minutes ago, Kman said:

Have multi year trends broken just to faff about for a month or two?

 

silver broke it's 2011-2015 down trend in early 2016. then it faffed around for over 3 years

until finally making a lower low in march this year.

similarly silver broke it's 1980-1985 down trend in 1986. it then faffed around for 6 years before

making it's lower low in 1993. even after putting in it's 1993 decade low(with hindsight) it then

took another 8 years(2001) to make a higher low that resulted in the 2011 bull run.

breaking a multi year trend means nothing.

 

HH

Edited August 10, 2020 by HawkHybrid

[Kman]

33 minutes ago, HawkHybrid said:

 

silver broke it's 2011-2015 down trend in early 2016. then it faffed around for over 3 years

until finally making a lower low in march this year.

Can't trust you if you're using March lows in anything

That was a liquidity crisis, that wasn't a normal market, what was happening before and where things recovered too is telling but March can't be used 

[HawkHybrid]

34 minutes ago, Kman said:

Can't trust you if you're using March lows in anything

That was a liquidity crisis, that wasn't a normal market, what was happening before and where things recovered too is telling but March can't be used 

 

the market is what it is. spikes are never 'normal' markets.

 

(technical analysis works on all markets but each market has it's own character)

 

HH

Edited August 10, 2020 by HawkHybrid

[gji25]

the global reset is comming . ditch you fiat currancy ....buy a rolex or omega watch made of a precious metal 😃

you will have more chance of leaving the country when the war starts 

Edited August 11, 2020 by gji25
typo

[Rll1288]

So finally a consolidation.... see where it ends up this week....I like corrections then we move on 🙂

[Kman]

I have a simple policy going, if there's a pullback I buy so just topped up my SLV on open -7%, very nice

 

 

[vacancies]

13 hours ago, gji25 said:

the global reset is comming . ditch you fiat currancy ....buy a rolex or omega watch made of a precious metal 😃

you will have more chance of leaving the country when the war starts 

Well there's a happy thought 

[Roy]

 

14 hours ago, gji25 said:

the global reset is comming . ditch you fiat currancy ....buy a rolex or omega watch made of a precious metal 😃

you will have more chance of leaving the country when the war starts 

It's uncanny...I was thinking of having all my teeth extracted and replaced with gold for the very same reason.

[MancunianStacker]

Is the price drop due to Putin’s miracle vaccine 💉 being declared today? 

[Martlet]

10 minutes ago, MancunianStacker said:

Is the price drop due to Putin’s miracle vaccine 💉 being declared today? 

Could be, its a signal there is a solution and return to normal.  I'd wait for a properly tested, approved one before getting out the bunting, its certainly a reminder this will be a time limited issue. 

[DarkChameleon]

2 hours ago, Roy said:

 

It's uncanny...I was thinking of having all my teeth extracted and replaced with gold for the very same reason.

Or just buy jewelry like cubans do with their chains...no need to go all teeth in..lol.

Edited August 11, 2020 by DarkChameleon

[Russell]

3 hours ago, MancunianStacker said:

Is the price drop due to Putin’s miracle vaccine 💉 being declared today? 

Indirectly, headline news like that and the dollar downfall stalling combined with the recent parabolic moves upwards in the last week.  Goldman Sachs banked 50% of their silver position taking profits off the table.  Plunges in price like this also trigger stop losses and others panic and sell exacerbating the fall.

However I know nothing and I am stupid so I have kept all mine and I am happy to hold

[HighlandTiger]

Ok, what's the guesses of what the bottom of the cliff will be? 

So much for going to the moon, we're actually heading to the centre of the earth.

 

😁