Silver Monitoring Thread £ (GBP) only.

[mousefu]

4 minutes ago, Rll1288 said:

I agree..... it will rise but with opportunities to sell at some good levels and reacquire when it dips...... Stocks took a pounding yesterday...over the next few days it will be interesting on what happens now

100% agree. I think we have a little ways to go before we hit bottom though. But fluctuation is healthy and reassuring and it is good to see a correction.

[BackyardBullion]

28 minutes ago, mousefu said:

Ah sorry. I was just joking with you. It just seems that a lot of people seemed really shocked that silver pulled back and it hasn't gone straight up to a ridiculous price. I blame the Youtubers who have have an interest in selling silver and keep coming up with ridiculous prices and anytime the price drops blames manipulation.

I called it - along with a select few others that things would pull back at some point. 

I am very much doubting $100+ silver any time soon. I think $50 is a stretch. Right now $30 seems optimistic!

[Rll1288]

2 minutes ago, BackyardBullion said:

I called it - along with a select few others that things would pull back at some point. 

I am very much doubting $100+ silver any time soon. I think $50 is a stretch. Right now $30 seems optimistic!

I do think $40 is possible by the end of the year...but for long term gains we will see loads of this type of movement.... i should have gone long of Volatility last week 🙂

[mousefu]

3 minutes ago, BackyardBullion said:

I called it - along with a select few others that things would pull back at some point. 

I am very much doubting $100+ silver any time soon. I think $50 is a stretch. Right now $30 seems optimistic!

You did. You have warned people quite a few times. I watch all your videos. You are a great ambassador.

[mousefu]

@Rll1288 where do you think the bottom is. I think close to $21.

[Rll1288]

Perhaps $20.50 maybe $20.00......  trouble is...if you look at what happened in March it went from around $18.00 with a $4 premium to around $13 with a $10 premium... so even though we get down there it will be good to see how dealers react with their premiums..... 

[Stacktastic]

3 hours ago, BackyardBullion said:

I called it - along with a select few others that things would pull back at some point. 

I am very much doubting $100+ silver any time soon. I think $50 is a stretch. Right now $30 seems optimistic!

You certainly did. Can you predict £12-14 silver please 

I am missing buying metals Not as fun buying mining stocks. 😛

Edited September 22, 2020 by Stacktastic

[Rll1288]

HAHAHA

[Kman]

The price and long term trend atm is still positive. It's just falling back into it's original trend

Everything is wobbling atm though, equities, crypto etc

There still seems to be a  world liquidity crisis with dollars; it doesn't matter how many there are if they aren't circulating. I'm not sure if this current wobble is a direct result of that though or something else

Fingers crossed on a crash and a second opportunity like in March 

 

[Stacktastic]

49 minutes ago, Kman said:

The price and long term trend atm is still positive. It's just falling back into it's original trend

Everything is wobbling atm though, equities, crypto etc

There still seems to be a  world liquidity crisis with dollars; it doesn't matter how many there are if they aren't circulating. I'm not sure if this current wobble is a direct result of that though or something else

Fingers crossed on a crash and a second opportunity like in March 

 

I might buy a physical ETF for the short term. Do you think £15 is a good target? Or £17? Probably sell when on the end of the next peak, which should technically be higher than the last one. I would say £23-4 an ounce maybe more spot. Anything over £5 an ounce profit is reasonable I think? I can then reinvest the profit into mining stocks & repeat the process all along the way. Makes sense to me but what do I know, my £5.5k account is -£90 today LOL. 

Edited September 22, 2020 by Stacktastic

[Rll1288]

If I had the "bottle".. I would buy a Call out of the money at $60 an ounce, say with maturity 6 months .... dependent on what the premium would be for it... that way I know exactly how much I could lose and then sell it if it started to go that way.... trouble is I am not sure if you can do that in the PM market... In CCY's you could

Edited September 22, 2020 by Rll1288

[Russell]

Afteroon campers finally we broke out of that trading range.   I am ready to buy hoping I get a chance at around £18 so spot would have to fall back to £15.  Can only hope

Edited September 23, 2020 by Russell

[Rll1288]

🙂👍

[mousefu]

I'm shorting SLV. Investing the profits into physical silver. It has been a win win. Sold at £20.50. Closing at £17.50 then going to plow the profits into physical.

[AGSurfer]

On 22/09/2020 at 13:51, Kman said:

The price and long term trend atm is still positive. It's just falling back into it's original trend

Everything is wobbling atm though, equities, crypto etc

There still seems to be a  world liquidity crisis with dollars; it doesn't matter how many there are if they aren't circulating. I'm not sure if this current wobble is a direct result of that though or something else

Fingers crossed on a crash and a second opportunity like in March 

 

my first post! I completely agree with kman. Silver is notoriously volatile and linked to the price of the dollar and the economy. Plus we have a US election in November. Biden is pro reducing co2 emissions and boosting solar panels which helps silver usage. Additionally, silver prices have gone up 50% in recent months so why not a pull back? If equity prices go down margin calls increase and there's a rush to liquidate...my point is there are multiple variables and dont panic if silver us part of a diversified portfolio. 

[lazybones]

I like this sunny outlook , and I'm still buying.

But...my goodness its getting a bit testing  on the nerves

[lazybones]

By the way, if anyone's interested, there's an interesting video conversation on Goldsilver.com (news)....between Mr Maloney, and the chief of First Majestic Silver.

It's a two part video, and is a good ego booster if you're feeling queasy at the moment.

Probably about 50 minutes long all together, so a cup of tea and a biscuit required before commencing !

Edited September 24, 2020 by lazybones

[Andysoir]

Big drop on silver again today. My intention while back was to just keep them for the long term. I sold a few bars but thinking of just putting them away for a while and maybe sticking to the original plan of keeping them for a few years.

[Paul]

Silver Price 
Current Price    £17.35
Week High    £21.14
Week Low    £17.09
Week Change    £-3.31 (-16.04 %) (!) 

The joys of silver stacking

[mousefu]

23 minutes ago, Andysoir said:

Big drop on silver again today. My intention while back was to just keep them for the long term. I sold a few bars but thinking of just putting them away for a while and maybe sticking to the original plan of keeping them for a few years.

Buy every month and buy extra on the dip. The World is too chaotic at the moment for silver to stay down for long. You can only paper over the crack so long before you need to rip it off and do some proper maintenance.

[mousefu]

I'm hoping for £15 at the end of this month.

[Rll1288]

keeping here will be ok.... 🙂  otherwise I will spend too much 

[Stacktastic]

1 hour ago, mousefu said:

I'm hoping for £15 at the end of this month.

I think your about right there. I just wish I had sold my first majestic shares last week as it was minus £50 rather than +£50 now.
So much for the huge bull run we were all expecting. I assume that will happen, but not as quickly as I thought anyway. 

I dont have any spare money to invest as i want a 10oz lion of mortimer & some paper silver. 

Edited September 24, 2020 by Stacktastic

[watchesandwhisky]

If we go into negative interest rates what do we think this will do if anything to the price of gold and silver? 

[goldmember44]

2 minutes ago, Madstacks said:

If we go into negative interest rates what do we think this will do if anything to the price of gold and silver? 

It should boost the price of precious metals.