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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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5 minutes ago, GoldDiggerDave said:

Silver has not kept up with the price of biscuits in the supermarket and some how it's magically going to go to the moon and pay the mortgage off.     I'm thinking most will starve first.  

Clearly you're buying the wrong kind of biscuits - 

image.jpeg.068568fcfa26e34b04319354d7f3f69f.jpeg

Edited by Silverlocks

The Sovereign is the quintessentially British coin.  It has a German queen on the front, an Italian waiter on the back, and half of them were made in Australia.

 

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3 minutes ago, GoldDiggerDave said:

Silver has not kept up with the price of biscuits in the supermarket and some how it's magically going to go to the moon and pay the mortgage off.     I'm thinking most will starve first.  

Time to stack monster boxes of quality street.

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1 minute ago, James32 said:

Time to stack monster boxes of quality street.

Too easy to just eat the stack.

The Sovereign is the quintessentially British coin.  It has a German queen on the front, an Italian waiter on the back, and half of them were made in Australia.

 

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7 hours ago, James32 said:

Time to stack monster boxes of quality street.

All of those xmas chocolate boxes are more of a swizz than the manipulated silver price. Every year they get smaller and smaller and the chocolate gets cheaper and nastier, and then they drop out some of the options from within. 

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

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For posterity 25/11/22 Silver £17.66oz  

Average UK salary £33,000 gross  = 1868.62oz silver. 35.93 gross oz of silver per week. 

minimum wage at 21 £9.50 per hour 1.85 hours (gross) to earn 1oz of silver. 

1oz of silver will buy 25.6 packets of custard creams 0.69p

7.17 oz of silver to fill my car  (£126.63  67 litres at £1.89)

11.78oz of silver to pay an average monthly energy bill   £2,500 per year - 12 £208.33 per month.  

16,761.2oz of silver to buy an average house (£296,000 in August 2022)

Out of interest do you think silver will outperform any of these over the next 12 months?     

 

 

 

 

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5 minutes ago, GoldDiggerDave said:

Average UK salary £33,000 gross  = 1868.62oz silver. 35.93 gross oz of silver per week. 

Sadly I think it'll out perform the avg. UK salary. I can see that being suppressed even more. So silver needs to just tread water.

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

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On 23/11/2022 at 19:13, James32 said:

Average forum prices right now.

1oz silver coins £24

5oz bar £125

10oz bar £240/£245

Kilo bar £680/£690

So everything under a kilo trades at £24/£25 an oz

This is why I've been buying pre 47 junk, as it's possible to get it for spot, or near to. (or probably less than for some of you traders)

I appreciate there's a processing cost to refine it to .999 .. but if we do get a big rise in prices at some point, that processing cost is fixed more or less to the volume rather than to the price, so should proportionally fall as the prices rise - whereas I suspect premiums of ~30% will not stick around if we hit a genuine shortage, that will put demand more on the physical market to pull it in.

At least that's my reasoning. However I appreciate the prices indicates it's clearly not a popular option.. what am I missing? Am I the (very heavy) bagholder here 🤣

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It’s official silver is not even keeping up with the price of salt.  The salt in my supermarket has gone up 17.1% this week. 


 

 

Please follow my dealership sub form for NGC grading, coin conservation, sales and helpful videos coming soon👍

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On 27/11/2022 at 14:59, Bigmarc said:

I think I have had the same salt grinder with the same salt in it for about 20 years. Bit of an old people's thing using salt. Saying that I wonder what I paid for it? (Thinking emoji) 

Has it tarnished?

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On 24/10/2022 at 13:05, 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.

Exactly why investing in an index fund for the next 8 years will be a better investment.

the last 10 years the s&p500 has averaged over 11%, which compounds.

£70k in 2012 would be worth over £170k now.

I often ask why I like metals 😂

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7 minutes ago, sovereignsteve said:

Certainly not custard creams

I’m just having a friendly poke at the silver stackers!! 
 

this year with inflation the pound must have lost over 40% of its buying power, silver should be £24-26 as a minimum. 

Please follow my dealership sub form for NGC grading, coin conservation, sales and helpful videos coming soon👍

https://www.thesilverforum.com/forum/148-golddiggerdave-uk/

Thank you for all your support.  

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On 27/11/2022 at 13:08, SidS said:

Gone back to ancient times where salt was worth a lot!

I buy dead sea salt in 25kg bags for my bath, but its kosher food grade.
£18, with delivery. :) 

43 minutes ago, ArgentSmith said:

Gold has "outperformed" Silver by 0.19% over the last 12 months, Silver sucks.

I dont have a clue really but I can see gold taking off when the dollar starts tanking and tank it will! 
I do think silver will follow so many normal people are chatting about silver or collecting coins now..
Im hoping to sell a few bars Ideally next year & buy bitcoin at £3-4k, worth the risk! 😛 

My small amount of gold is most certainly staying put. I loaded up on all the dips last year. 
Trading mining stocks I think are a good place to be alongside physical IMO, but knowing when to buy and sell is the tricky bit. 
They dont always trade with the physical price, which makes them a bargain, especially if only the market has taken them down. 

Edited by Stacktastic
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