Silver Monitoring Thread £ (GBP) only.

[Stacktastic]

1 minute ago, GrahamDiamond said:

I think the Sheeple are now running into PM;s  we will have to wait and see. I think Gold/Silver Etc will start to move up to new high's Now IMHO.

I have a feeling you might be right, but crypto should break out first I think, Bitcoin maybe above £15,000? 
love 'Sheeple' I went shopping yesterday and it was unbelievable. 'have you signed in to tracks and trace app' Err - No. 

Im watching the paper ETF silver prices as I want to buy in on the low. 

[WILLIG666]

Buckle up as many more up's and down's on the silver/gold bumpy road to come 😒 with Covid part 2 on our door step, stock market oversold and the US elections.........then what if Trump contests the vote, which he will if he loses and will cause more uncertainty and a market sell off......................his term ends on the 20th of January, he will not go quietly.

Fair value will play out eventually but who knows when that will be.....buy on the dips 🙂

[Martin1983]

6 hours ago, WILLIG666 said:

Buckle up as many more up's and down's on the silver/gold bumpy road to come 😒 with Covid part 2 on our door step, stock market oversold and the US elections.........then what if Trump contests the vote, which he will if he loses and will cause more uncertainty and a market sell off......................his term ends on the 20th of January, he will not go quietly.

Fair value will play out eventually but who knows when that will be.....buy on the dips 🙂

Always going to be ups and downs that’s life, I just bought a 1kg bar although I have a feeling silver will continue to go down 

[Martin1983]

Will companies selling silver continue to sell if the price keeps going down or will they just stop selling as it’s not profitable for them?

[WILLIG666]

52 minutes ago, Martin1983 said:

Will companies selling silver continue to sell if the price keeps going down or will they just stop selling as it’s not profitable for them?

Silver dealers buy at wholesale prices and obviously add a standard margin for resale, so will only offer it to a certain price point.

The last crash in March where silver was briefly £10.50ish an oz, the cheapest 1oz coin I could find in European dealers was £16 plus post.

[Martin1983]

11 minutes ago, WILLIG666 said:

Silver dealers buy at wholesale prices and obviously add a standard margin for resale, so will only offer it to a certain price point.

The last crash in March where silver was briefly £10.50ish an oz, the cheapest 1oz coin I could find in European dealers was £16 plus post.

If it goes back to £15 or below it’s probably time to look at monster boxes ha,

[MintageSeller]

Realistically how high does everyone believe silver will go this month? 

[Kman]

1 minute ago, MintageSeller said:

Realistically how high does everyone believe silver will go this month? 

As things look on the charts for the dollar, euro and silver I'm expecting silver could come down heavily sometime soon

[Martin1983]

2 hours ago, Kman said:

As things look on the charts for the dollar, euro and silver I'm expecting silver could come down heavily sometime soon

I just bought some bars if silver comes down again good just buy more

[MintageSeller]

On 29/10/2020 at 22:18, Martin1983 said:

If it goes back to £15 or below it’s probably time to look at monster boxes ha,

For sure. 

[Mox]

Had it’s arse kicked a bit today I see.

[MintageSeller]

Not looking to good

[Stacktastic]

Just now, MintageSeller said:

Not looking to good

It's fabulous. Buy buy buy!!! 😛

[Martin1983]

16 minutes ago, Stacktastic said:

It's fabulous. Buy buy buy!!! 😛

It will go lower I think, anything below £15 is probably a good time to stock up on whatever you can afford to get

[sixgun]

 

7 minutes ago, Martin1983 said:

It will go lower I think, anything below £15 is probably a good time to stock up on whatever you can afford to get

It would be a good time to stock up - that would in USD terms be sub $20. That would mean price retracing back to mid-July levels. 
There was a smash today on the pretext of a potential vaccine. 
This is a short covering stunt by banks in short positions.
The market broke when there was the last really big smash. Physical prices went up not down. They almost doubled before falling back. A paper price chart is no longer a close guide to what you will have to pay. If you are in the UK, which i see you are, there is the issue of Brexit and VAT. 
i bought some silver today. 

In general it is better to buy some with some of your available funds and leave some powder dry.

[Martin1983]

12 minutes ago, sixgun said:

 

It would be a good time to stock up - that would in USD terms be sub $20. That would mean price retracing back to mid-July levels. 
There was a smash today on the pretext of a potential vaccine. 
This is a short covering stunt by banks in short positions.
The market broke when there was the last really big smash. Physical prices went up not down. They almost doubled before falling back. A paper price chart is no longer a close guide to what you will have to pay. If you are in the UK, which i see you are, there is the issue of Brexit and VAT. 
i bought some silver today. 

In general it is better to buy some with some of your available funds and leave some powder dry.

Absolutely, I bought some 1KG bars they just arrived last week, but if the price continue to go down I will be buying more it’s a long term hold for me anyway

[mrrick]

i'm buying again today, i love these smashes , as always guys don't go all in , and keep some dry power 

[SPGfuntime]

I ve bought today too, pity did not have more clear time for analyze of buying for this days but ok, took few things which wanted from before..now popcorn and watch freak show where to go lol!

[Russell]

I like the consolidation on the silver price and the premiums still high on the auction sites.   I got a load of silver last week just from a chance conversation with a lady who had been left a massive coin collection.  I bought the lot, took me 4 days to sort it !!  So I got some pre 1920 and 6 kilo of pre1947 coins.  I have a few commerative coins which I am trying to sell but I have thousands of pennies, halfpennies, thrupenny bits 12 sided brass.  I was thinking of getting a devils forge but wondering whether it is worth it to make copper bars.

 

PS that buy brought my average price per ounce down £3 to £18.21 🙂

Edited November 14, 2020 by Russell

[ChrisSilver]

Off topic posts hidden. Please feel free to start a new topic for new subjects. 

I will move the posts to a new topic shortly. But please do not deliberately go off topic in a post, as it creates more work to tidy it up. And please report off topic posts immediately so that they can be moved to a new topic. This topic is for discussing price action of silver in GBP. 

EDIT: Off topic posts now moved to a new topic in the Premium members lounge and unhidden. 

[dicker]

Silver recovering a little over the last few days.  My guess is it will continue at roughly this level until the end of the year.  Possibly will get hit again with more vaccine news, but may hit 20.  

[HighlandTiger]

Silver is dropping like a stone, and doesn't look like its stopping anytime soon. 

[sixgun]

Price bounced - if SI holds the 23.965 Fib then expect short covering into the Friday close.

Edited November 19, 2020 by sixgun

[HighlandTiger]

Well, looks like silver has dropped out of my bottom line of my chart, so it could end up anywhere.

Typical though, that what with Xmas on the horizon, my spare cash has been depleted, and I cant take advantage of this buying opportunity. 

[Silverman2U]

Well if the vaccine is “not accepted” (possible) with media hype, hard brexit upon us, money pumped into the system at all time highs, tech stocks in share mark at all time highs, housing the highest its ever been before, people loosing jobs hand over fiat in many sectors due to continued restrictions... I think the only think holding back the Sunami is politicians trying to get re-elected.. with government clinging on be their fingertips hoping the masses will no revolt.

Just now, Silverman2U said:

Well if the vaccine is “not accepted” (possible) with media hype, hard brexit upon us, money pumped into the system at all time highs, tech stocks in share mark at all time highs, housing the highest its ever been before, people loosing jobs hand over fiat in many sectors due to continued restrictions... I think the only think holding back the Sunami is politicians trying to get re-elected.. with government clinging on be their fingertips hoping the masses will no revolt.

If I won lotto tomorrow. I would be buying MORE gold and silver!!