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Silver Monitoring Thread £ (GBP) only.


Message added by ChrisSilver

To discuss price action in USD instead, please see here: https://thesilverforum.com/topic/19861-silver-monitoring-thread-usd-only/

 

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1 hour ago, 5huggy said:

more commonly known as "MANIPULATE"  😒

Out in the open to the public now thanks to reditt. Went to the butchers the other day and the teenage staff member mentioned it. My dad is clueless outside of the daily mail and he knew about it.  ;)

As per a lot of things over the last year.
People who would never had thought about control in our world are now thinking 'hang on a minute'. ;)
I know, Im one of them. 

Just wish I knew what I know now as I could have played GameStop & silver perfectly. 
Especially silver as thats easily shorted the other way. 

Hoping we have round 2 on that as its looking promising - rallied nicely today at points on a bad day. 

Edited by Stacktastic
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On 09/02/2021 at 17:50, InvestInCoins888 said:

The markets are acting on a ‘inoculations have cured the Covid’ stance... I’d say the mess from Covid has only really just begun. When the boat gets rocked again, personally i think that’s coming soon, we will see people flock back to the save haven of precious metals, pushing the prices back up, whilst the stock markets take yet another dive.

Correct.

The noise is always wrong. I keep reading, hearing and seeing from "financial experts" that the "V" shaped recovery is finished, dont look at the figures, buy up American stocks and continue as normal. Well, theres a massive hole about to drop in the Stockmarkets and metals will see a rise.

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1 hour ago, CollectForFun said:

Ok, so here's an explanation how ETFs work: In fact, an ETF like SLV does not in principle buy any silver in the sense of buying on an open market. They just give the participating banks an opportunity to bring their silver to ETF, in exchange for which banks receive new units, which they can sell on the market to investors. So, ETF manager does not care about premiums - they always deal with participating banks at spot (I am disregarding possible special arrangements they may have between themselves).

If no bank wants to acquire new units, or return existing units to ETF, then the total amount of units remains constant. This means that there are no inflows of silver to ETF or outflows, irrespective of daily trading volume of ETF units. But this is perfectly fine - you can still buy any number of ETF units you want. Such trade is then only transfer of right to existing silver from previous to new unit holder.

So, I hope I have clarified some of your questions, if not just ask 😉

 

 

That's great, did you just make all that up? 😛

Firstly, its authorised participants who trade with the ETF. These are not exclusively banks.

Secondly, if no 'bank' wants to acquire units and there are no inflows/outflows - then your example must relate to a weekend, when the market is closed.

On almost every day since last year, SLV has seen massive inflows, and new units are being created, otherwise the ETF would trade at a premium to NAV. Therefore, in order to have enough silver (and to keep the price-to-nav ratio at one), an AP must be buying silver from somewhere. Given there's a shortage at the moment, someone somewhere is selling silver at 0% premium - silver that might not even exist.

To be realistic - the AP's at any point can stop trading with the ETF, stating that silver at 0% is difficult to get hold of, as everyone else is experiencing - if they can get acquire it, selling it  on the 'open market' would be more profitable - for example to a TSF bulk order  ;)  

 

 

 

 

 

Edited by Spark268
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2 minutes ago, Spark268 said:

It definitely cannot be JPM or HSBC, as they are custodians of the ETF.

Despicable Me What GIF

Minions No GIF

They are not "SUPPOSED TO"!

CFTC et al - just leave em alone to play "manipulators glory"

(and possibly get back handers too 😉😒)

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1 minute ago, Chris83 said:

Anyone any ideas of when the premiums on silver might fall? I think they are stupid high right now and I'm not buying until they fall aloy more 

You IMHO have just answered your own question - indirectly 

This is the situation the "CRIMS" want to create to keep "Minions" out of the market by "FEAR"

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1 minute ago, 5huggy said:

You IMHO have just answered your own question - indirectly 

This is the situation the "CRIMS" want to create to keep "Minions" out of the market by "FEAR"

Yer I just think its all abit of a joke tbh they shouldn't be allowed to do it but its all buy and demand I suppose when something is in high demand there people see there opportunity make more money. All I know is I'm not buying any silver till it drops atleast alittle 

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It was simply an off day for the markets yesterday and that has an effect.
There were some mini crashed about 3pm. Everything started to tank pretty much. 
Did not last long, but there was not a lot of volume. 

Also a lot of day traders, the general public and firms might still have assets in silver from the short squeeze,
Especially if they bought high and are currently at a loss.

Its going to be transferred to a different sector if it does not perform or losses cut if it goes down further. 

Have a look at the little box on Finviz - if its red dont touch the markets! Green great, grey 50//50! 
As it show the sectors you can see instantly which ones are doing well.
Tesla, for example got hit so it obviously affected the S&P and Nadaq as they hols a lot of the shares. 

https://www.finviz.com 

TESLA.png

Edited by Stacktastic
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2 hours ago, Minimalist said:

 

Dont give up on Silver, its coming.

I would argue the link is times of economic/monetary trouble

You could post a chart of unemployment with QE and they would correlate

Or you could post a chart with unemployment and silver and say wow people really like to buy silver when they lose their jobs

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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3 hours ago, Spark268 said:

well in times of economic trouble, it usually gets pummelled !

Yeah like when world lockdown happened with millions of people unsure of how they would pay the bills & mines closed (short supply) and it goes to £14.
2 months later, give everyone free money and it shoots up. 

Golds having a good day, GDXJ topped up this morning.
Waiting for it to go under $1800 resistance & will buy a SOV from Chards. ;)
If it goes down much further might consider a 1oz Brit.

Goes to show what an influence China has on the price. 

Edited by Stacktastic
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Can you believe this lying shill Jeff Currie, Goldman Sachs.
i like to listen carefully.
He says there are 25 billion ounces of silver in the silver market - he knows full well that is a lie unless someone has the mother of all silver hoards. 
Then he says that silver ETF's buy silver and then go short on the COMEX to hedge their position. This is gibberish. If they sell short the total value of their investment cannot go up (or down). If the silver goes up in price, the physical they hold goes up in value but they lose on the short. If silver goes down, the physical goes down in value but the short goes up. 
Is he letting out some truth here? They cannot afford for the price of silver to go up b/c they have sold it all (gone short) on the COMEX. Or maybe they don't have silver and are using the cash to go short?

 

Edited by sixgun

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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51 minutes ago, sixgun said:

Then he says that silver ETF's buy silver and then go short on the COMEX to hedge their position. This is gibberish. If they sell short the total value of their investment cannot go up (or down). If the silver goes up in price, the physical they hold goes up in value but they lose on the short. If silver goes down, the physical goes down in value but the short goes up. 

They're hedging reducing risk

No idea what the ratio would be but it definitely wouldn't be 1:1 as standard

 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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1 minute ago, Kman said:

They're hedging reducing risk

No idea what the ratio would be but it definitely wouldn't be 1:1 as standard

 

What risk do they need to cover with a short?
They sell shares before the silver enters the vaults.
We know this much.

So let's say 1 share = 1 oz silver.
They sell 100 000 shares at $27 say.

The price of silver goes down before they have got their silver.
They buy the silver in at $26.

They make an added profit.

The price of silver goes up - it costs $28 but they sold the shares at $27 - they lose.

So the risk is to the upside - they need to go LONG in futures to lock in a price.

i do not see where they need to go short.
 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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3 minutes ago, sixgun said:

What risk do they need to cover with a short?
 

I would guess it's an accounting, balancing the books issue

In April it says SLV assets under management were 5b and it's now 17b

What difference does that 12b make? does your whole portfolio balance different, can you open new positions or have access to more capital/different types of credit? no idea, but you wouldn't want to get caught playing with that 12b if silver tanks and be stuck living a 17b lifestyle with only 5b

Again I'm guessing but it's probably something to do with this

 

 

 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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3 minutes ago, Kman said:

I would guess it's an accounting, balancing the books issue

In April it says SLV assets under management were 5b and it's now 17b

What difference does that 12b make? does your whole portfolio balance different, can you open new positions or have access to more capital/different types of credit? no idea, but you wouldn't want to get caught playing with that 12b if silver tanks and be stuck living a 17b lifestyle with only 5b

Again I'm guessing but it's probably something to do with this

For accounting purposes? yeah right.
The custodian of the silver in two of the big silver ETF's is JP Morgan. The GLD and SLV exist to take funds away from the public buying real silver - it is the same reason as the gold futures market was started - the SLV is a tool of the gold cartel to prop up the dollar https://wikileaks.org/plusd/cables/1974LONDON16154_b.html

The SLV is a tool of the gold cartel to prop up the dollar. Ironic the US calls the JP Morgan metals desk a criminal enterprise.

JPMorgan’s Metals Desk Was a Criminal Enterprise, U.S. Says

https://www.bloomberg.com/news/articles/2019-09-16/jpmorgan-s-metals-desk-was-a-criminal-enterprise-u-s-says

 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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Hi collectforfun....yes I used the dealers by back price which I understand is the worst way to sell it. That's one of the reasons that I have joined this forum so if I do decide to sell it I can do it through this forum to minimize my losses. In your experience is it safe to sell silver through this forum and I would be worried about sending it through the post so I would be more comfortable meeting people in person if I do decide to sell. Have you ever bought or sold silver on this forum? If so did it all go smoothly? Thank you

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1 minute ago, spoon said:

Hi collectforfun....yes I used the dealers by back price which I understand is the worst way to sell it. That's one of the reasons that I have joined this forum so if I do decide to sell it I can do it through this forum to minimize my losses. In your experience is it safe to sell silver through this forum and I would be worried about sending it through the post so I would be more comfortable meeting people in person if I do decide to sell. Have you ever bought or sold silver on this forum? If so did it all go smoothly? Thank you

Safe as anything on here mate.....list your item, they bank transfer you the money, if your worried send with special delivery through royal mail which will insure precious metals and you can choose how much to insure for, get the receipt which comes with tracking info and bobs your uncle 👍

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I bought my first Silver bar exactly a year ago when covid started take hold an procrastinated for ages of paying 560 for a 1kg only 12 months ago 

Prices now are mad silver is far too manipluated for my linking hence me selling my 300 ounces and moved into gold just glad I got in early, but not as early as others paying less than half that again only 12 - 24 months precious with spot at 11 there the smart ones 

The psychology of Pms are weird everyone buys in when spot is going to the moon and no one when it is low unless your smart 

Couple it weeks ago on here people buying comedy silver coins for mad prices for two days solid at one point you could flog a silver turd for 50 quid an ounce 

Gold close to spot with a touch of numismatic is the place to be 

Also stack what you love as you will become to Resent it if you don't  if Pms  Goes down I'm not Too worried because I love what I have and can fondle them until price goes back up 

I have had to sell at a loss on a few things recently so I'm. Probably not the best to listen too lol 

 

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