Silver Monitoring Thread £ (GBP) only.

[kurama]

Hahaha thanks for that, can you tell I’ve only been in the game 9 months 👍🏼😁

[Mike1976]

13 hours ago, matt1r said:

Quite amusing everyone’s panicking and paying over the odds, it may go up but it will come back down. 😄😉

Exactly. I’m new to this forum and I am surprised at the amount of hype and the FOMO reaction.

[dicker]

Normal investor / market behaviour - irrational,  but normal. 

[Connor]

Does a less than £2 change to the spot price really mean that much to your average collector or stacker?

[Paul]

4 minutes ago, Connor said:

Does a less than £2 change to the spot price really mean that much to your average collector or stacker?

in % terms its a big move

yet folk at happy to pay %30-80% over post on any other day of the past 30 years 

[Zhorro]

10 minutes ago, Connor said:

Does a less than £2 change to the spot price really mean that much to your average collector or stacker?

It probably doesn't, but remember that £2 is an increase of just under 10% in one morning.  Surely it is better for things to build up gradually in order to entice more people in?  Do not forget that the silver market is a lot larger than the market for a small/medium sized share, so a 10% increase is not a bad start.

[Connor]

I agree percentage wise this is obviously a significant jump, but I see this just being a short term spike in interest. Silver will go back down while it's on its way up, if that makes sense. The extra attention can't hurt though 

[SilverDrum]

1 hour ago, Connor said:

Does a less than £2 change to the spot price really mean that much to your average collector or stacker?

To put it into context if you invest in property, after all the hard work 10% ROI is a goal. I could have just threw my whole portfolio on silver yesterday, and made a years earnings  

[Stacktastic]

6 minutes ago, SilverDrum said:

To put it into context if you invest in property, after all the hard work 10% ROI is a goal. I could have just threw my whole portfolio on silver yesterday, and made a years earnings  

Mental isnt it. This could be the greatest transfer of wealth in history. 
 

[272]

Looks like they are buying up certain mining stocks. Argent minerals up nearly 60%.

Other big mining companies getting a modest bump of just under 5% (Anglo American, Glencore etc).

[272]

Thought this might be of interest from HL news desk.

In equity markets, precious metals miner Fresnillo surged to the top of the FTSE 100 as silver prices shot higher, targeted by Reddit retail traders. Polymetal, Hochschild and Centamin also shone.

FXTM market strategist Hussein Sayed said: "Following successful attacks against short-sellers on game retailer GameStop and other heavily-shorted stocks like AMC, Nokia, Blackberry and Bed Bath & Beyond, retail traders' next target has become silver.

"iShare Silver Trust, the world's largest silver-backed exchange-traded fund, recorded a one-day inflow of almost $1 billion on Friday and is likely to see more inflows today as more traders become familiar with the trade.

"Miners of silver were the biggest beneficiaries of the latest Reddit's users' recommendation, who are betting this time against large banks. However, the targeting of Wall Street may be misplaced as most big banks hold short positions in the silver futures markets to hedge their physical holdings. If their short positions lose value, their physical holdings gain, hence from a price perspective they are neutral."

[Calzehbhoy]

I mean, the front page of the WSB reddit thread is literally saying do not buy silver, but hey - let's not let the truth get in the way of a good news story.

 

[Pete]

APMEX suspended new orders for silver this weekend because of unprecedented demand and rising prices.
What I cannot understand is why the demand is so high when prices rise and not when they fall.
Naively you would assume therefore that silver has much more upside - otherwise why buy now ?

[sovereignsteve]

FOMO?

[Goldflinger]

Fear of missing out

Like basing your investment strategy on how many rockets there are after the tweet 🚀🚀🚀🚀🚀  😀

[272]

I suppose we'll  start to see in a few minutes when the US markets open.

[Martin1983]

6 hours ago, WILLIG666 said:

Yeah going up really slow, just a pathetic 16% rise from week lows of £18.11 👍

Hopefully people have learnt to bank some profits along the way, as long term holders have seen this scenario before and always a re-trace eventually once the pumpers leave the party.

Nice to get some big media interest at least to highlight how undervalued it is and being such a small market potential to big swings.

Good luck everyone and enjoy the ride.

its only increasing due to this whoel situation of people coming together to force it up just like they did with the gamestop stock, once this all ends silver will come back down in price, its just how high will it go at the moment.

[Martin1983]

6 hours ago, WILLIG666 said:

Yeah going up really slow, just a pathetic 16% rise from week lows of £18.11 👍

Hopefully people have learnt to bank some profits along the way, as long term holders have seen this scenario before and always a re-trace eventually once the pumpers leave the party.

Nice to get some big media interest at least to highlight how undervalued it is and being such a small market potential to big swings.

Good luck everyone and enjoy the ride.

its being forced up just like the gamestop stock, silver will come back down once they stop this but how high will it go

[Paul]

Are we back down to £10.25 oz yet ???

what normally what happens after a big rise up

[Paul]

Looking at the dozens of "for sale" posts that have arrived the past 12+ hours, it nice us die hard long time silver stacker folk who have been on the forum for years have confidence silver is going to the moon and HODL'ing 😁😆😅🤣 

 

[Shinus73]

Interesting day, seemed backwards by the end of it.

You had the Reddit bunch denying involvement and CNBC, who normally piss all over any rally in metals, seeming almost giddy with excitement. 

Somethings going on, but I won’t even try to guess what.

Also, by chance had some eBay listings end tonight. Sold 9 oz of silver for an average of £35 each.

[wonderhandz]

It feels a little bit like Gyms in January- Please be patient for you regulars, while the newbies get excited. Normal service will resume in a few weeks. 

[Cointreau]

Hi guys. Hugs and kisses to one and all. I was perplexed by this QR code thingy so I walked round it.

It looks like our time is approaching. The sun lit uplands are within sight. I aint selling nothing yet. I'm a bit pissed by the timing as I have an inheritance coming to me later this week and I had in mind to buy at least 10K worth of silver but never mind. I'm still in buy mode however. I see American eagles are selling for over forty bucks in the US...And I noticed yesterday that Atys are pretty much out of stock and have they paused trading?

[Cointreau]

Supply is tight and will we ever see silver at £20 again? The awakening begins in earnest.

https://www.zerohedge.com/markets/unprecedented-history-apmex-ceo-explains-why-they-halted-silver-bullion-sales-over-weekend

[Leonmarsh]

For me if it can be manipulated up it can be manipulated down there are bigger things at play here

Rise high, sell flood the market with silver price drops make a huge profit, onto the next thing with alot of new entries to the market holding bullion bars that cost them the earth 

Just my opinion