Silver Monitoring Thread £ (GBP) only.

[Bigmarc]

1 hour ago, ant1882 said:

Agree, most people could get their heads around gold & silver... crypto? I doubt it, the only crypto that will be easy to use is the one you want to avoid! CBDC based.

If you were to say to the average Joe on the street "put your wealth somewhere safe" they would have a clue. I think the majority will just wait for cbdc and toe the line, and that's all they need. We have just witnessed what just happened with the vaccinations. The whole thing policed itself to the point it was socially unacceptable not to toe the line with the masses. The same will be with cbdc, "it's the greater good of the nation".

Edited October 24, 2022 by Bigmarc

[spookyandroid]

2 hours ago, SidS said:

Don't get me wrong I've made some profits on silver, I was buying at $5 per oz, so some profits are built in. But I'll be stunned if we get to $50 per oz by 2030.

Would I like it to get there?

YES.

Will it?

I doubt it.

As with all of this speculative game, we'll soon see. I feel there are too many fundamental bullish factors going, but I could well be wrong, as the entire system is controlled by gits at the top. 

[spookyandroid]

1 minute ago, Bigmarc said:

If you were to say to the average Joe on the street "put your wealth somewhere safe" they would have a clue. I think the majority will just wait for cbdc and toe the line, and that's all they need. We have just witnessed what just happened with the vaccinations. The whole thing policed itself to the point it was socially unacceptable not to toe the line with the masses. The same will be with cbdc, "it's the greater good of the nation".

I

On point, however, its more about where smart money puts their finances after that "tax the rich" comes in, obviously we know the rich don't tax themselves. This is probably why the index for rare coins is currently breaking out...

[Stacktastic]

15 minutes ago, SilverJacks said:

 

2:35 sums this up

 

Personally, I think whilst PMs might help in the short term, they aren't the answer to the problem. What is the solution? Maybe we all need to stick together, look out for each other, be nice.... Oh dear, WE ARE F'ING F'D

Love this track - The end we are all f'ing fukkd'

Will of the people is spot album on given the times.
A VERY non woke band & I listen to them to lighten myself up.  

[ant1882]

Back to the silver price, 200MA is on the uptrend on the weekly.

[spookyandroid]

30 minutes ago, ant1882 said:

Back to the silver price, 200MA is on the uptrend on the weekly.

Bit rusty on the TA (so forgive me if anyone spots mistakes), but overall from what I see, some crazy volume since the 'rona hit in general. 

Looks like we've hit both the 50% fib and then 61.8% fib, found support here and on what looks to be confluence with the monthly S/R line. (around 18.25)
The monthly candle for last month is green, and whilst this one has pulled back its still currently green with a week to go.
On the weekly, the candle made a higher high, but ultimately came back before close meaning overall a lower high, we're also making higher lows. 
Looks like we've had 5 touches of support and only two touches of resistance in this range, but hopefully we'll see this move up and above $21 range for good soon! 
TA wise its generally work on the premise that a trend will continue until it breaks structure, in which case, we should likely head down, but TA can easily be manipulated when the powers that be want it that way. Fundamentally, I cant help but feel everything stacks up for Silver right now so any negative PA/TA is likely for smart money to accumulate.

[gji25]

On 23/10/2022 at 15:26, Robda1986 said:

True but seeing as how silver has just had the perfect storm to cause it to explode and it didn't I'm not seeing how this stands any better chance.

Tell that to the bullion dealers lol

[gji25]

6 hours ago, spookyandroid said:

Bit rusty on the TA (so forgive me if anyone spots mistakes), but overall from what I see, some crazy volume since the 'rona hit in general. 

Looks like we've hit both the 50% fib and then 61.8% fib, found support here and on what looks to be confluence with the monthly S/R line. (around 18.25)
The monthly candle for last month is green, and whilst this one has pulled back its still currently green with a week to go.
On the weekly, the candle made a higher high, but ultimately came back before close meaning overall a lower high, we're also making higher lows. 
Looks like we've had 5 touches of support and only two touches of resistance in this range, but hopefully we'll see this move up and above $21 range for good soon! 
TA wise its generally work on the premise that a trend will continue until it breaks structure, in which case, we should likely head down, but TA can easily be manipulated when the powers that be want it that way. Fundamentally, I cant help but feel everything stacks up for Silver right now so any negative PA/TA is likely for smart money to accumulate.

What does this mean in good old english  mucker . is it going up or down ?

Edited October 24, 2022 by gji25
typo

[spookyandroid]

2 hours ago, gji25 said:

What does this mean in good old english  mucker . is it going up or down ?

Haha technical analysis baaad (down likely), fundamental analysis good (up likely). Obviously, just opinions. 

[spookyandroid]

Another interesting point. Elliot waves, this is 2008 to 2011 versus where we're at now. Just a theory but take a look...

If this does happen, and we see a similar move (which I think it will be significantly bigger this time) then silver could see a 489% move, Price in Oct 2008 to April 2011 went from $8.40 (£7.42) per ounce to $49.70 (£43.90) (peak) per ounce. It closed $41.33 (£36.50)

Even if this current situation was the same as then, that could see prices go from $19.00 to $93.04. (£16.78 to £82.18)

Further edit: 

2008 debt to GDP ratio in the UK was around 54% and in the US was 63%, currently its difficult to find an accurate source, but the UK is apparently around 100% and the US is 125%. Whats more interesting and by interesting I mean dodgy as **** is that in 2016 the UK was apparently 113% and the US 99% (source: https://www.macrotrends.net/countries/GBR/united-kingdom/debt-to-gdp-ratio)

Not quite sure how when the money printers aka QE has been going none stop and running overtime, without increasing rates that the UK has reduced its ratio by 13% during an economic downturn and during the alleged post-brexit downturn, whilst giving out grants and furlough left and right.

The current inflation rate is currently 8.20% versus 3.8% in 08', if we work on the sentiment that the situation is twice as bad (I think its more like 4x or 5x personally), then that could theoretically see prices hit $186.08 (£164.35) per oz.

Added in GBP figures based on exchange rate 25/11/22.

Edited October 25, 2022 by spookyandroid

[EdwardTeach]

3 hours ago, spookyandroid said:

currently its difficult to find an accurate source

https://www.usdebtclock.org/world-debt-clock.html

[spookyandroid]

20 hours ago, EdwardTeach said:

https://www.usdebtclock.org/world-debt-clock.html

Whats the difference between Public and External debt to GDP? and if its a case of public and actual, why would Japan want to over exaggerate?

In other news, Silver looking good today. Could break up on the shorter TF

[EdwardTeach]

1 hour ago, spookyandroid said:

Whats the difference between Public and External debt to GDP?

I don't know. Hopefully someone else here can enlighten us because I wondered the same thing myself.

[StackerBritt]

26 minutes ago, EdwardTeach said:

I don't know. Hopefully someone else here can enlighten us because I wondered the same thing myself.

Don’t really follow it myself but….. 

[FlorinCollector]

.

Edited October 31, 2022 by FlorinCollector
Sorted

[Paul]

He's a very good chap to be fair Martin. Lowest  price is not always everything.

You never know what a big order/consistent order/ none moany order might get you. Is saving 20p an Oz better than building a lasting dealing relationship ?

Be a nice customer, nice stuff normally happens in return 

[CANV]

CBDC's should cause a massive rush into PM's.  most of the sheep won't care, they care not one iota about never carrying or having cash. they won't care when its goes..   

maybe that move is already beginning with the dislocation of physical silver and even gold now from 'paper' pricing ..

your silver ounce may be worth 15 brit coins but trying buying one for that.    but also try spending a silver ounce. no one will take it for goods or services  

they will be interesting times indeed

Edited October 31, 2022 by CANV

[FlorinCollector]

10 hours ago, Paul said:

He's a very good chap to be fair Martin. Lowest  price is not always everything.

You never know what a big order/consistent order/ none moany order might get you. Is saving 20p an Oz better than building a lasting dealing relationship ?

Be a nice customer, nice stuff normally happens in return 

Never been a moany customer and when I am purchasing assets cheapest price does tend to do it for me. I saved £1.50 per oz. 🤷‍♂️

[Silverlocks]

£18.07/oz.  Looks like silver's off to the moon again . . .

[gji25]

On 31/10/2022 at 23:28, CANV said:

CBDC's should cause a massive rush into PM's.  most of the sheep won't care, they care not one iota about never carrying or having cash. they won't care when its goes..   

maybe that move is already beginning with the dislocation of physical silver and even gold now from 'paper' pricing ..

your silver ounce may be worth 15 brit coins but trying buying one for that.    but also try spending a silver ounce. no one will take it for goods or services  

they will be interesting times indeed

Incorrect. watch this

 

[Leonmarsh]

Problem is if silver went to the moon who would buy it at 49 an ounce 

Can you imagine trying to sell it on here lol 

I would think even dealers would be hesitant at spot at 49 as one inevitably as it always does silver will be bummed hard back down again 

[Mtaybar]

1 minute ago, Leonmarsh said:

Problem is if silver went to the moon who would buy it at 49 an ounce 

Can you imagine trying to sell it on here lol 

I would think even dealers would be hesitant at spot at 49 as one inevitably as it always does silver will be bummed hard back down again 

It'll have to sustain a good amount of time at those prices before anyone would take it seriously I reckon. And even then it would shift around slowly between the most ardent of believers lol. 

[SidS]

9 minutes ago, Leonmarsh said:

Problem is if silver went to the moon who would buy it at 49 an ounce 

Can you imagine trying to sell it on here lol 

I would think even dealers would be hesitant at spot at 49 as one inevitably as it always does silver will be bummed hard back down again 

I would. I do. 😁

I've bought plenty of pre-1920 crowns for that and they're not even an ounce - Vicky young heads aren't as cheap as they used to be. Neither are William III or Charles II crowns.

[Mtaybar]

2 minutes ago, SidS said:

I would. I do. 😁

I've bought plenty of pre-1920 crowns for that and they're not even an ounce - Vicky young heads aren't as cheap as they used to be. Neither are William III or Charles II crowns.

I've bought the odd collectable or rare silver coin at well over that but as a standard britannia, maple, eagle etc.... I don't know if many would go for it. But then.... who knows, the world is a ever changing place. 

[Leonmarsh]

5 minutes ago, SidS said:

I would. I do. 😁

I've bought plenty of pre-1920 crowns for that and they're not even an ounce - Vicky young heads aren't as cheap as they used to be. Neither are William III or Charles II crowns.

Numismatic items are different 

I'm talking about silver bar generic bullion etc 

Would you buy a kilo at over 1500 quid