Silver Monitoring Thread £ (GBP) only.

[sixgun]

54 minutes ago, timsk said:

Hi sixgun,

Thanks for the detailed reply - very informative! 👍

Your general assessment makes a lot of sense, bar the line I've quoted. This surprises me as silver is primarily an industrial metal. So, if the economy is shrinking and recession is looming etc, this impacts demand. Ergo, falling indices will, theoretically, have a negative domino effect on silver. Or am I missing something?

Metal prices are driven by the derivatives markets and these are really just a casino. Huge leveraged bets on prices where participants never take delivery and many of the brokers close out positions before delivery could be taken anyway.
At the moment there is huge demand from India for silver - thousands of tonnes but as usual you wouldn't know it. 
The so-called spot market on the LBMA in London is still really just a paper market - billions of ounces traded with only a fraction being stood for delivery. 
One day the physical market will overwhelm the paper market but we aren't there quite yet.

As far as stock markets are concerned London isn't nearly as important as it used to be. It was recently overtaken for size by the French market. So i don't take any notice of it - i would probably struggle to tell you more than a couple of dozen stocks that trade in London.

Edited February 3, 2023 by sixgun

[gji25]

All you need to remember is that the number 4 is a very significant number when stacking any type of precious metals imo 

[Stacktastic]

On 03/02/2023 at 19:33, sixgun said:

One day the physical market will overwhelm the paper market but we aren't there quite yet.

Good lets get back to £15.50 so I can load up again. 😛 

[Paul]

1 minute ago, Stacktastic said:

Good lets get back to £15.50 so I can load up again. 😛 

It'll still be £30 for an Oz of physical I bet 

[Stacktastic]

24 minutes ago, Paul said:

It'll still be £30 for an Oz of physical I bet 

Yeah - needs to go down for some time - but I do think this is a pull back to a higher high breakout unfortunately.  
Who knows as we are due a major SHTF moment on the markets this year. 
ideally silver paper contracts will get mixed up in that & get us back to £9 an ounce.  
I love it as there is always the miners and they are still cheap - its swings and round abouts. 
Gold is too high for my liking - might never see it under $2000 at some point though. 

Just need platinum back to £600 an ounce - thats would be nice. 

Edited February 5, 2023 by Stacktastic

[Leonmarsh]

Anyone glad they invested in silver ?

[Bigmarc]

4 minutes ago, Leonmarsh said:

Anyone glad they invested in silver ?

More glad than my bitcoin and my house that's due for remortgage this year.

[Leonmarsh]

2 hours ago, Bigmarc said:

More glad than my bitcoin and my house that's due for remortgage this year.

Yeah mortgage nightmare mine going up by 250 quid then an undoubted bumming of 5% council tax rise 

[Fishy321]

Yep it's a **** over, to much sustained incompetence to be accidental

[Happypanda88]

5 hours ago, Leonmarsh said:

Anyone glad they invested in silver ?

It depends on your entry point.

If you had bought monster boxes costing £11-£12 per ounce then why wouldn't you be glad ?

Just saying !

 

[Fishy321]

Yeah that is very true, and always ride the waves hey 

[Leonmarsh]

9 hours ago, Happypanda88 said:

It depends on your entry point.

If you had bought monster boxes costing £11-£12 per ounce then why wouldn't you be glad ?

Just saying !

 

If you bought at this price it would indicate you bought a fair few years ago has the growth been what you had hoped ? I suppose at 50 per cent it is if you bought at that 

Can't see many buying monster boxes though only a select few 

I'm talking more about people who buy a Simpsons donut 1oz  coin for 50 quid that kind of thing 

[Happypanda88]

47 minutes ago, Leonmarsh said:

If you bought at this price it would indicate you bought a fair few years ago has the growth been what you had hoped ? I suppose at 50 per cent it is if you bought at that 

Can't see many buying monster boxes though only a select few 

I'm talking more about people who buy a Simpsons donut 1oz  coin for 50 quid that kind of thing 

No one is perfect. No even Barbie ! 😉

[flyingveepixie]

16 hours ago, Leonmarsh said:

Anyone glad they invested in silver ?

I will be when it goes up to £40 an ounce and I can sell some of it...🙄

[gji25]

On 15/02/2023 at 13:23, flyingveepixie said:

I will be when it goes up to £40 an ounce and I can sell some of it...🙄

 

[Silverman2U]

On 15/02/2023 at 11:32, Leonmarsh said:

If you bought at this price it would indicate you bought a fair few years ago has the growth been what you had hoped ? I suppose at 50 per cent it is if you bought at that 

Can't see many buying monster boxes though only a select few 

I'm talking more about people who buy a Simpsons donut 1oz  coin for 50 quid that kind of thing 

I still don’t get why that donut coin is so stupidly high… reminds me of the “brain dead” piece of modern art I almost bought… before I woke up and realised that after dividend tax I will be paying £27k for a piece piece of modern art that was nothing like the old grand masters of the previous centuries! 

[Roy]

What's that noise?!

*beep* *beep* *beep*

That'll be TeamSilver backing up the truck!

😇😎

[Leonmarsh]

27 minutes ago, Roy said:

What's that noise?!

*beep* *beep* *beep*

That'll be TeamSilver backing up the truck!

😇😎

Just check it's not your pacemaker Roy 

[bluemoon]

That GSR refuses to go down. Being in the 80s is pretty high and it's been hovering round there for the past 8 years.

[Stacktastic]

so who thinks we could see lower double digit silver by the end of the year?? 
Not that long ago it was at £11 so 12-13 is easily possible.  
Im a huge silver bull, but as a lot of it is paper - the spot price is just a joke to me. 
Im back into physical on the mid £15 range again as thats a likely bottom for now.  
I flukily bought quite a bit on both the last two bottoms.
15kg for one clients and not me unfortunately.  

Edited February 23, 2023 by Stacktastic

[scotwasp]

I reckon/hope it could go down a bit, but with inflation going the way it is I’m sure that it is inevitable that we will see it strengthen in the next few years. 
I don’t ever worry about the next few weeks or months as I accept that I don’t have a clue, therefore I just buy a wee bit ever month.
I am, however, banking on medium and long term growth compared to sterling. 

If I’m wrong I guess I will still have something shiny to look at 😁

[Zeuk]

I think you have to expect greater volatility in silver, its written all over its history.

[DavePanda]

Seethe manipulators have been at it again

[Fishface220]

Silver down

[modofantasma]

Just now, Fishface220 said:

Silver down

It's got a hiding today. £ holders shielded from the full brunt of it at least