Silver Monitoring Thread £ (GBP) only.

[Robda1986]

8%up today not really what I'd call violent more vertical 

[goluckystayhappy]

WSB's next target perhaps. When I read about I stuck £10k in SLV. Dont normally do paper silver so  short term trade.

[Stacktastic]

Its the shorting markets vs the private traders. google AMC. 
Wallstreet shorts reditt group are making a lot of traders cry this week!! 

There is a finance war on today. Might not last long, maybe it will stop the control and we will hit £100 an ounce. 

Edited January 28, 2021 by Stacktastic

[Paul]

ill be out of my silver stack quicker than a bishop from a brothel raid at $500oz let alone $10,000

[Stacktastic]

2 minutes ago, Paul said:

ill be out of my silver stack quicker than a bishop from a brothel raid at $500oz let alone $10,000

lol.

glad I put £2000 in pan american & £500 in Mag. already up 3 percent. 

[Colnago]

Folks, quick question.. If a punter wanted to trade on the price of Silver or Gold, where would he look?

[craig12]

£250 per ounce  gets mi mortgage paid off   or around  £200 per ounce if i lump the gold in with it to clear mortgage 

[modofantasma]

19 hours ago, Colnago said:

Folks, quick question.. If a punter wanted to trade on the price of Silver or Gold, where would he look?

I use a spread betting account with IG trading there are many other similar platforms. Most offer a demo feature so you can get a feel for the platform and how it works first (and also practice if you're starting out) 

Lcg are another I looked at and there were a few more I came across 

[craig12]

22 minutes ago, modofantasma said:

I use a spread betting account with IG trading there are many other similar platforms. Most offer a demo feature so you can get a feel for the platform and how it works first (and also practice if you're starting out) 

Lcg are another I looked at and there were a few more I came across 

cant beleive i just read that reply ,i thought all stackers on here only concentrated in buying physical

[Paul]

[Colnago]

Stupid question time... if Silver shoots up in price, say to £50oz.. Who is gonna buy your stack at that price?

[Paul]

Just now, Colnago said:

Stupid question time... if Silver shoots up in price, say to £50oz.. Who is gonna buy your stack at that price?

when 2011 highs hit, there were no shortage of buyers at all. as the train was seen to be leaving the station and it was jump on board because the next stations are £75oz and then £100oz

Dealers will always just work on margin.  for the sake of easy maths buy at 95% sells at 5% over spot.  10% spread is their profit

doesnt matter if its £5oz or £50oz 

[Colnago]

2 minutes ago, Paul said:

when 2011 highs hit, there were no shortage of buyers at all. as the train was seen to be leaving the station and it was jump on board because the next stations are £75oz and then £100oz

Dealers will always just work on margin.  for the sake of easy maths buy at 95% sells at 5% over spot.  10% spread is their profit

doesnt matter if its £5oz or £50oz 

Love your way of thinking my good man 🤠

[craig12]

when all fails you sell it to a bullion dealer , if you bought wiseley  your £££   in  ..........can you now see why i wont pay £23£24£25£26£27  for silver   always think of the dealer to buy it back    some of the pandas i bought in 2013  were £17  phils £12-£13  10 oz bars £145-£160  ish      dealers will pay me more than that now ....its not rocket science is it ...if you dont flip this stuff whos gunna pay ya 50% -100% over spot 

Edited January 29, 2021 by craig12

[Rll1288]

4 minutes ago, craig12 said:

when all fails you sell it to a bullion dealer , if you bought wiseley  your £££   in  ..........can you now see why i wont pay £23£24£25£26£27  for silver   always think of the dealer to buy it back    some of the pandas i bought in 2013  were £17  phils £16   10 oz bars £150-£165  ish      dealers will pay me more than that now 

That's good if you started stacking then.... Its like all markets when you start it may not be at the absolute bottom or top.. its how you position and trade within that which gives you a better average. I wish I could have bought at 16/17 per oz... for me we are seeing a range and I will trade between that with a  view that I improve my holdings and average.. if possible :-).. With the goal that we will see minimum $50 dollars by 2022.. fingers crossed. 

[craig12]

1 minute ago, Rll1288 said:

That's good if you started stacking then.... Its like all markets when you start it may not be at the absolute bottom or top.. its how you position and trade within that which gives you a better average. I wish I could have bought at 16/17 per oz... for me we are seeing a range and I will trade between that with a  view that I improve my holdings and average.. if possible :-).. With the goal that we will see minimum $50 dollars by 2022.. fingers crossed. 

ive just bought a 5 oz sunshine minting bar from a good seller for £105 inc delivery thats £21 per oz  when spot was £19  or so , i think it was £135 or best offer plus postage . ....i really cant stress this enough and im gunna assume its cos of rejection .but offer what youre prepared to pay  as low as you can .my stack has always been around £12-£20 per oz , i thinkthe one i paid over the odds for was the 5oz pamp  , i did try and get it for £80 but had to pay £90 or so cos it was pamp   

[HighlandTiger]

Price is getting close to me selling all my physical silver. 

I may be putting up some cheap silver (compared to spot) for sale this weekend on the forum 😁👍

[Paul]

we just broke £20oz ! 

[HighlandTiger]

Just now, Paul said:

we just broke £20oz ! 

I want it at £22 by close 😁🚀

[Paul]

1 minute ago, HighlandTiger said:

I want it at £22 by close 😁🚀

get redditors on it #wallstreetbets 

ill be happy with £200oz if they can get the momentum going on it, we will have a few millionaires here if it hits £200oz 

[KevjustKev]

21 hours ago, Paul said:

ill be out of my silver stack quicker than a bishop from a brothel raid at $500oz let alone $10,000

Two steps behind the mayor and one in front of the chief constable

[modofantasma]

When the price of an asset rises substantially or quickly it gains more attention and draws more people in I guess. That's perhaps as much psychological but why often novice investors end up buying high and selling low or just holding for a long time hoping for it to hit the highs again. 

Perhaps for us stackers and investors it's obvious to buy when it dips but the knee jerk reaction is to wait because it might go down further. The fomo thing too. 

Metal wise I don't really plan on selling the stack in the foreseeable future unless I've another opportunity that requires the cash and I've not got it on hand. 

I have a number in my head that would make a juicy return on my stack for silver but if that time comes and I've no better opportunity for the cash I'd rather stay in silver still unless there was some certainty in the silver price dropping substantially 

[modofantasma]

2 hours ago, craig12 said:

cant beleive i just read that reply ,i thought all stackers on here only concentrated in buying physical

I'm stacking/accumulating physical metals for the long term. It's not my main investment vehicle but one I enjoy and believe in.

Personally I think being involved in a few different asset classes gives me more stability because if I go all in on one asset I could easily be wrong. Love the shiny stuff

[kamik0zi]

1 hour ago, Paul said:

we just broke £20oz ! 

There seems to be resistance at £20. Is that as high as it's going today?

[Rll1288]

For now... 🙂