Silver Monitoring Thread £ (GBP) only.

[Erolroller]

19 hours ago, Paul said:

In other news no one noticed silver has broke £20oz !

i never heard the trumpets 

The only thing consistent about silver is its consistently volatile.

Ah,but wait till it goes to 3 figures an ounze, eh??? 

[Paul]

2 minutes ago, Erolroller said:

The only thing consistent about silver is its consistently volatile.

Ah,but wait till it goes to 3 figures an ounze, eh??? 

ill be out when it hits £50oz lol 

[sixgun]

57 minutes ago, Paul said:

ill be out when it hits £50oz lol 

Maybe not. We'll be in lockdown 14 by then.

[sixgun]

ETF's are likely taking much more silver in 2021 - 
#silversqueeze

[Spark268]

the silver market was in deficit last year, so basically every ounce bought is adding to the squeeze

Edited February 28, 2021 by Spark268

[Cointreau]

The silversqueeze Gofundme effort is doing okay. I put in roughly £10. Scottsdale mint put in $5K.

It's for billboards to be put up on American motorways saying buy silver basically to raise awareness.. They've raised about $80K so far.

And posters I guess,

Edited March 5, 2021 by Cointreau

[Paul]

On 22/02/2021 at 21:52, Paul said:

In other news no one noticed silver has broke £20oz !

i never heard the trumpets 

£20oz was not even a fortnight ago  

[Drawga]

Bought the Una & the lion bar yesterday during the dip (even though it was a high premium)

Impulssive much, I know.. looks nice though

Does anyone think it will dip again like same time last year?

[Stacktastic]

This month could be a good buying opportunity for most metals. 
If Silver hits 17 and below then i might start buying. 

Great video covering silver too. 

 

[Thebrumie]

Hi every one : I'm Jeff a frenchie in Birmingham 

I'm new in the game and very impressive by all your knowledge on this Forum , congratulations guys. 

For me  : I have a very simple goal, created a " secure reserve" just in case ...So i will try to buy at the more reasonable price as possible.

 

 

[sixgun]

[GoldStandardPartyUK]

On 23/02/2021 at 17:46, Paul said:

ill be out when it hits £50oz lol 

I thought this way but I've done some more thinking, for me it depends on what pushes it up to 50, whether the reason is sustainable like a demand spike or transient like a supply shock (#silversqueeze). Also I think it depends on what the other metals are doing, because when I sell my silver I'll be swapping into another metal. 

 

[sixgun]

It does not look like these saw the light of day for quite a few years.

 

[sixgun]

Keep stacking:

 

[Robda1986]

53 minutes ago, sixgun said:

Keep stacking:

Could go up could go down only a crystal ball knows the answer 

[sixgun]

"Could go up could go down only a crystal ball knows the answer "

No - this is based on proper analysis of the silver market not tea leaves.

[Robda1986]

33 minutes ago, sixgun said:

"Could go up could go down only a crystal ball knows the answer "

No - this is based on proper analysis of the silver market not tea leaves.

I've seen so many times people predicting silver will rise (I'm sitting on a pile regardless) my issue is its just had the perfect set of conditions to move and it's barely shifted (mass media attention, drop in interest rates, physical limitations on availability, people re evaluating their finances and savings as well as possible uses in masks) I get its under valued I just don't see how it can move now 

[Roy]

Should silver go to £50oz spot price, what would the forum sale price be? £75oz?

A kilo bar would be £2400.

What would the dealers charge (inc. VAT and premium)?

 

[sixgun]

12 hours ago, Robda1986 said:

I've seen so many times people predicting silver will rise (I'm sitting on a pile regardless) my issue is its just had the perfect set of conditions to move and it's barely shifted (mass media attention, drop in interest rates, physical limitations on availability, people re evaluating their finances and savings as well as possible uses in masks) I get its under valued I just don't see how it can move now 

What will move the silver price is physical availability. That was covered in the video. It isn't a new idea, it is self evident from observation. We can say all day long that fiat currencies are being printed into oblivion but what we have seen as a result is a commodity (silver) which is the most under priced commodity in the world. 

In one of the charts in the video we saw that investment demand for silver in 2020 was at record levels. This kicked off with the March 2020 EFP blow up. The appetite of investors large and small has not abated since. Indeed it has ramped up and is culminating in the WallStreetSilver #silversqueeze movement. The silver industry is getting onboard and working synergistically with these guys. i joined this movement when there was a handful - the numbers are now over 43k and growing by 1000's every week.

i expect the physical offtake so far this year will have exceeded all of 2020. We are seeing a real physical supply deficit unfold as a result. i see stories about Perth not having physical to meet unallocated silver investors who are demanding delivery of their silver bullion. If this idea takes hold we will see a run on silver which will expose the massive hoax which is the unallocated silver bullion market. 100's of times more promises than actual physical to back these up. This is how they have kept price down. Creating paper silver out of thin air and conning investors into thinking they have physical in a vault.

One might say the several mints, that are clearly short, have just been taken by surprise by demand. That COVID has meant their ability to produce product is reduced. They deny there is a shortage - but they can't keep up, hence there is a shortage. Sunshine Mint isn't taking fresh manufacturing orders for the next 6 months - it is proffered they are too busy making planchettes for the US Mint, which can't keep up. The fall in COMEX silver inventories in the last couple of months has been large, as the longs are demanding delivery and not rolling contracts. SLV inventories, or at least the physical silver inventories they say they have, these are falling rapidly since they shot up at the beginning of #silversqueeze. The guys on WSS came to realise that the way to take down the silver shorts was not through buying SLV, which clearly holds large numbers of silver certificates and not physical, but by dumping SLV and switching into the Sprott PSLV or stacking actual physical themselves. As a result PSLV has been taking in millions of ounces of silver as demand for the shares escalates. PSLV actually holds the physical unlike the scam ETF's such as SLV and GLD.

This is the way to do it - to reset price - it is to take silver out of the system. As Steve St. Angelo says in the video with palladium, it was the fall off in visible inventories that triggered price explosion. As physical silver gets sucked out by private investors (like us) it does the same and will trigger a price explosion, like 'palladium on steroids'. When the likes of Apple and Samsung get spooked they will want to stockpile and abandon just in time deliveries. These sleeping giants will wake up - then we will see silver prices rocket. They would pay $100's per silver ounce to keep their production lines open. There may be a brief point where the paper / physical disparities become ridiculous - as we saw in the March EFP blow up. When paper silver fell to $11 something and there was no product on the shelves. The more silver prices get hammered, the more members should buy. i can see the end is in sight - but actually i long for the days of low prices so i could stack a little bit more.

Edited March 21, 2021 by sixgun

[sixgun]

9 hours ago, Roy said:

Should silver go to £50oz spot price, what would the forum sale price be? £75oz?

A kilo bar would be £2400.

What would the dealers charge (inc. VAT and premium)?

 

i don't think so Roy. When we look at the premium on gold coins this might be let's say 4%. On silver it is commonly 40%. Part of this is VAT but the rest is a function of the lower price of silver.
It might cost £2.50 to make a coin. It is £2.50 for both gold and silver. It is much the same for a 1/2 oz coin as compared to a 1 oz. This is in part why small denominations are more pricey. That £2.50 is trivial when it comes to gold but a significant amount with silver. The cost of manufacture won't change as the silver price goes up. So i would expect the premiums for silver in percentage terms will fall. 

[Roy]

Maloney likes to use the phrase, 'unaffordable and unobtainium'.

Won't Apple and Samsung products become so? 

Solar panels, medical equipment and paraphernalia. 

Film, batteries, autos.

Can the price of silver be allowed to rise? Everything will go up!

[onlyroadtoheaven]

12 hours ago, Robda1986 said:

I'm sitting on a pile regardless 

The chemist should be able to sort you out with some cream for that

[Gruff]

@Roy one could argue that maybe the prices will rise to what their fair market value is? That could also be said that if they paid fair wages to the factory workers the prices would rise, or if companies weren't so pushed by share holders to keep returning huge profits they would accept smaller profits that would negate some of the price rise?

Maybe then the tech companies wouldn't rush out such small incremental updates to devices every year either?! Or is that being naive? 

[sixgun]

1 hour ago, Roy said:

Maloney likes to use the phrase, 'unaffordable and unobtainium'.

Won't Apple and Samsung products become so? 

Solar panels, medical equipment and paraphernalia. 

Film, batteries, autos.

Can the price of silver be allowed to rise? Everything will go up!

The amount of silver in a mobile phone is currently only a few cents. The silver makes these things work but only makes up a tiny fraction of the manufacturing costs. This is why the silver price could go many times higher. There are alternatives for things like solar panels - they aren't as good but if silver were $1000 / oz then they would be used and manufacturers would have to be more economical as well as using alternatives. 

It is not a matter of allowing silver to rise - when there isn't enough to go round then price will have to go up. Investors will then start to take profits and feed physical back into the commodity market. That silver is a commodity has been used as an argument that it is not the same as gold and that its price can't go up very high. Palladium has proved that wrong - it has actually shown that being a commodity as well as money, makes silver very strong. Then there will be those who will say, well in that case silver can't be money again b/c it is too expensive. Well silver can be money if you harness it to a blockchain system as we see with Kinesis. i have this covered Roy. i have had this in my mind's eye for quite a few years. Now i see my imagination starting to become reality. Stack on - stack on.

[Roy]

Yes, but 1.39 billion phones are sold every year.

Silver was money but then so was copper.

I don't share @sixgun's passion for silver as money.

The silver price will increase but only because of a demand from industry.  What profits you see will be evaporated through crippling inflation.

(this is the wrong thread for this)