Silver Monitoring Thread £ (GBP) only.

[Stacktastic]

20 minutes ago, Fishface220 said:

Silver down

Yay I have been sitting on my hands - not bought anything since Sept 2022.  
Hoping for £15.30 again. Ideally with a general equity slide inc. miners. 

Edited March 7, 2023 by Stacktastic

[Fishface220]

25 minutes ago, Stacktastic said:

Yay I have been sitting on my hands - not bought anything since Sept 2022.  
Hoping for £15.30 again. Ideally with a general equity slide inc. miners. 

Wow.... that some serious will power you have!! 

[Stacktastic]

11 hours ago, Fishface220 said:

Wow.... that some serious will power you have!! 

Yeah. But I do trade the stocks so that kills the urge. 😛 

I guess Powells comments today and recent bullishness for metals has caused the dump. 
I bet a lot of contracts are out on paper silver & the algorythyms had a meltdown LOL. 

Been waiting for a market dump anyway as its up and down, but not enough for my liking. 
Non farm payroll Friday. 
Will be nice to see a short term mega sell off to £9  

Edited March 8, 2023 by Stacktastic

[pablitto83]

I wonder how the price will behave on Monday/next week/s  after Powell's message they need to go back to printers, and just after 2 banks in US has shut down. Should we see again an avalanche of liquidations, where all assets will be on sell to save the leveraged positions, or like crypto - stay calm  

In theory, we should not go down much. The value from before 2020 and now is about the same if you take into account the inflation. Can also check GSR to see how it behave to safe gold.

I just done a small buy, and probably will continue in coming days/weeks. If it crash, it may a be a short time to buy before it rocket back up.

Ok, silver is more industrial metal, but when we need to stop using normal cars, then silver will be in need. At least, when the countries will invest trillions in infrastructure to send power, and double the power plants so we could charge our electric vehicles..

[Stacktastic]

3 hours ago, pablitto83 said:

I wonder how the price will behave on Monday/next week/s  after Powell's message they need to go back to printers, and just after 2 banks in US has shut down. Should we see again an avalanche of liquidations, where all assets will be on sell to save the leveraged positions, or like crypto - stay calm  

In theory, we should not go down much. The value from before 2020 and now is about the same if you take into account the inflation. Can also check GSR to see how it behave to safe gold.

I just done a small buy, and probably will continue in coming days/weeks. If it crash, it may a be a short time to buy before it rocket back up.

Ok, silver is more industrial metal, but when we need to stop using normal cars, then silver will be in need. At least, when the countries will invest trillions in infrastructure to send power, and double the power plants so we could charge our electric vehicles..

I dont know but I think this is all manufactured and planned personally so It might well be ongoing. 
If I was a Fed person or central banker who wanted to change to a digital currency and reset the debt. 
I would want to take out the smaller middle men and consolidate power to the big boys. We shall see. 

Technically it will bring up the gold price and silver should follow. But probably wont 😛 
I have to say i did not see so many buying opportunities in silver this year and last!! 
I honestly never thought it would get below £17 again at one point. 
I really do think we could see £200 silver in the next 5 years.  

Gold on the other hand has done very well. Not bought anything since 2021. 
Excluding miner stocks. 

Edited March 12, 2023 by Stacktastic

[EdwardTeach]

8 hours ago, Stacktastic said:

I really do think we could see £200 silver in the next 5 years.  
 

To da moooooon!

(but a loaf of bread now costs £100)

[SidS]

24 minutes ago, EdwardTeach said:

To da moooooon!

(but a loaf of bread now costs £100)

Where can I buy one???

Quick before someone else jumps in, that's cheaper than £149.95 at our local Poundland. 😉

Edited March 12, 2023 by SidS

[Paul]

Are we at £50oz yet ?? ( Asking for a friend)

[SidS]

1 hour ago, Paul said:

Are we at £50oz yet ?? ( Asking for a friend)

By 31 May 2006 at the latest, or so I read.

[flyingveepixie]

I was shocked to learn this morning as part of my ongoing PMs education that the paper silver market is 243 times larger than the physical silver market.

That's a ratio of 243 : 1.

I knew it was funny money and fiddling jiggery pokery by the big boys, but until now I didn't realise the extent of it.

Makes it a whole lot easier to understand why silver spot is always so low.

£17.957/oz as I write....

Here's the link to the article I just read

https://www.bullionstar.com/blogs/bullionstar/infographic-paper-silver-vs-physical-silver/

Edited March 14, 2023 by flyingveepixie

[Zhorro]

50 minutes ago, flyingveepixie said:

I was shocked to learn this morning as part of my ongoing PMs education that the paper silver market is 243 times larger than the physical silver market.

That's a ratio of 243 : 1.

I knew it was funny money and fiddling jiggery pokery by the big boys, but until now I didn't realise the extent of it.

Makes it a whole lot easier to understand why silver spot is always so low.

£17.957/oz as I write....

Here's the link to the article I just read

https://www.bullionstar.com/blogs/bullionstar/infographic-paper-silver-vs-physical-silver/

I think the figures in the 2021 article are out of date.  According to the US Debt Clock page, the paper to silver ratio is now 364.29 to 1

https://www.usdebtclock.org/

[flyingveepixie]

6 minutes ago, Zhorro said:

I think the figures in the 2021 article are out of date.  According to the US Debt Clock page, the paper to silver ratio is now 364.29 to 1

https://www.usdebtclock.org/

Wow.  That's even worse then.😞

[silversky]

Does anyone know a good source of paper to 'commodity x' ratios?  Whenever I hear about the paper to silver ratio, I always wonder what the paper to oil or Uranium ratio is at the time.  I imagine that these things have been steadily rising as the complex derivative system groans under the ever increasing weight

[SidS]

The way things are going there's probably paper to paper ratios these days. 😁

 

So many derivatives.

[Zeuk]

Silver giving it the Rocky fight back

 

 

[Zhorro]

Whilst there has been a lot of talk about gold today (ATH), silver is currently up 8.45% on the week!  This is quite a move:

Edited March 17, 2023 by Zhorro
error

[ArgentSmith]

3 minutes ago, Zhorro said:

Whilst there has been a lot of talk about gold today (ATH), silver is currently up 8.45% on the day!  This is quite a move:

I think the most telling thing is that no one cares, gains are going unnoticed. Very bullish imo.

[silversky]

White marubozu on the weekly.  That's a pretty strong candle to be fair.  Not sure if it will continue next week, but the signal is strong.  I reckon it must drop to test 22$ again, but who knows if it bounces up after that or not.  I'm expecting a 'high wave' candle next week on the weekly chart.  Symptomatic of strong forces and confusion.  A start and end at roughly the same level, with a high and a low during the week.  Just my opinion and might be horribly wrong 

[gji25]

13 minutes ago, silversky said:

White marubozu on the weekly.  That's a pretty strong candle to be fair.  Not sure if it will continue next week, but the signal is strong.  I reckon it must drop to test 22$ again, but who knows if it bounces up after that or not.  I'm expecting a 'high wave' candle next week on the weekly chart.  Symptomatic of strong forces and confusion.  A start and end at roughly the same level, with a high and a low during the week.  Just my opinion and might be horribly wrong 

Your wrong . you forgot the sideway movement lol 

Edited March 18, 2023 by gji25
typo

[gji25]

Get ready to the ride the wave 🚴‍♂️

 

Edited March 18, 2023 by gji25

[timsk]

RORO - Risk on, risk off.

The move up will likely be sustained if the fallout from the collapse of SVB and the mess that Credit Suisse have got themselves into can't be contained. IF that's the case and this turns out to be the start of another banking collapse - then silver could be setting off on a parabolic journey to the moon. On the other hand, if the central banks can contain it - at least for the time being - then I suspect the bullish move will peter out quite quickly. For those that like charts, I suggest looking at the the banking sector and the U.S. Dollar Index (DXY). As long as these are tanking, silver will continue to rise.

Just my £0.02p worth - could be completely wrong! 

[FriedrichVonHayek]

One of the people I follow on YouTube says that the Gold Bull market won't be confirmed until Silver breaks out.

The Gold/Silver ratio is still at around 88 so Silver hasn't done much at the moment.

[SidS]

Silver has done **** all, to put it into technical terms.

Edited March 18, 2023 by SidS

[Stacktastic]

19 minutes ago, SidS said:

Silver has done **** all, to put it into technical terms.

Im hoping it U turns over the next couple of weeks and over extends the pull back it was in already to £14.  
Or it goes to high £20's - either way I dont care as long as it does not go sideways like in late 2021.

Edited March 18, 2023 by Stacktastic

[GoldDiggerDave]

Gold hit an all time high......remind me when  silver hit the highs, was it over a decade ago?