Silver Monitoring Thread £ (GBP) only.

[Zhorro]

A big fall in silver over the past hour or so - down over 2.5% on the day.  Any thoughts as to why?

[Zhorro]

Now down over 3% today!

[Uksilverstackers]

 

53 minutes ago, Zhorro said:

Any thoughts as to why?

The Silversqueeze is squeezing the wrong bit 😳 

Strangely, Gold is relatively unscathed at the moment

Edited July 27, 2021 by Uksilverstackers

[Midasfrog]

Down To The Moon !! 😂

[FlorinCollector]

This is not how the silver squeeze is meant to work 🤣

[Bigmarc]

Brits down to £29 only 65% over spot. I think the silver squeeze is still working.

[BackyardBullion]

2 minutes ago, Bigmarc said:

Brits down to £29 only 65% over spot. I think the silver squeeze is still working.

Working to keep dealer premiums high is all, on that front its mission accomplished. 

[LawrenceChard]

On 25/04/2014 at 12:36, Pete said:

Buying a few coins at a time from a dealer is not like buying shares.

You can buy shares instantly and if the price has dropped 5% for a minute then timing is everything.

I would assume coin dealers like Atkinsons and the rest set their prices on a moving average and not a real time price.

Spot is updated every minute or so and you may see a little change in their prices but if the market gets hammered I very much doubt their prices will match sudden big dips. On market crashes you tend to find everything is sold out or unavailable - especially gold.

Real bullion dealers use live prices, not moving average prices, unless the moving average is over the last 10 seconds or so.

Gold prices change constantly.

Quoted spot prices might only get updated at intervals, but would typically only be a few seconds, depending on factors such as server loads and bandwiths.

Big prices swings can and will affect supply and demand of course, and this in turn affects dealers' stocks.

[LawrenceChard]

On 04/04/2021 at 16:02, seasianequation said:

Aren't they mostly electrum with copper in them etc? a bit more durable than 999.9?

They might be electrum if you went back to about 350 B.C., but most ancient Roman coins were gold, silver, copper, or brass.

[LawrenceChard]

On 01/06/2021 at 23:38, Martin1983 said:

It it recommended to buy a 1oz gold coin over say 4 or 5 sovereign gold coins? Does a 1oz have a better resale value or more desirable?

Nothing much to choose between them.

Buy whatever is at the lowest premium within reason.

[GoldStandardPartyUK]

My analysis on today's price action

[Stacktastic]

6 hours ago, Zhorro said:

Any thoughts as to why?

Yes I think - Q3 earnings. Stocks are mostly in the red so peopler moving cash about to compensate. 
Thats largely a guess but for a sideways boring market its a good one.
Nasdaq down and they need silver (ie Tesla, solar companies)???
Mining stocks have not moved much though?

I have been waiting patiently for this as I want Polymetal.
Plus some physical from Europe Vat free. Could get interesting in August. 

Gold has also dipped below $1800 which is a major thing. 

The silver squeeze thing was such awaits of time. I wasted a week of my life for £300 profit.

Edited July 27, 2021 by Stacktastic

[goldmember44]

Bitcoin has had the opposite trend the past day or so, looks like big money is moving into crypto again - - perhaps at the detriment of gold and silver. 

Edited July 28, 2021 by goldmember44

[Midasfrog]

" Can you see any signs of a silver recovery ? " says Jenny

" I cant quite see the spot price , can you hold onto my legs while I hang over the edge "  says Dan

[GoldStandardPartyUK]

I do see this as a test of my theses. I've had a view for several months that silver is in a box pattern, and moves within the box are permitted and to buy the dips. There's possibility of a wedge, but that's very hard to judge as this week broke though the wedge line, but not the box line. 

So I'm not worried, it's bending the trend not broken the trend. 

[Coverte]

3 hours ago, goldmember44 said:

Bitcoin has had the opposite trend the past day or so,

Quite possibly encouraged by the Amazon blockchain announcement ?

[FlorinCollector]

“You’ll never see *insert price* in your life again”

[Robda1986]

Back to pree dump price now 

[modofantasma]

7 hours ago, Robda1986 said:

Back to pree dump price now 

back up 3% today folks

[BackyardBullion]

Well, cliff falling again!

Typical, I just locked in a bunch of silver earlier this morning....

[modofantasma]

1 minute ago, BackyardBullion said:

Well, cliff falling again!

Typical, I just locked in a bunch of silver earlier this morning....

NFP day ....

[Bigmarc]

Nfp?

[HawkHybrid]

2 minutes ago, Bigmarc said:

Nfp?

us non farm payroll figures

 

HH

[modofantasma]

Just now, Bigmarc said:

Nfp?

non farm payroll data announce at 1330 our time in the US. Essentially the number of people in employment... A higher number suggesting economy is all rosy and productivity will be good etc AKA perceived positive news so safe haven assets with no yield like gold less popular. Good short opportunity 

[dicker]

Plus USD strength.