Silver Monitoring Thread £ (GBP) only.

[silversky]

55 minutes ago, ZRPMs said:

Starting to think it's too much of an industrial metal to be allowed to go too high. I do like it but only in lumps of a kilo or a bit more. My other thought is how much do you need to make it worth it just in case it moon shots?

Your own weight in kilos is a good start.

[theman73]

5 hours ago, ArgentSmith said:

I would agree that there is evidence of intra day or short term price manipulation in the metals and most markets but don't see any evidence of longer term price suppression. My best guess would be 2x gold = 3x silver cant see a moon shot Hunt Bro style unless we have a currency crisis. Just my thoughts.

They need to stop the paper trading to stop the manipulation. 

Gold sales are in fact down but the price is ATH, it's all about hedging bets, they do whatever they like and nobody stop them.

Supply and demand is dead, is all about the men in suits who need more money for mistress and coca.

 

Edited March 7 by theman73

[ArgentSmith]

3 hours ago, theman73 said:

Gold sales are in fact down but the price is ATH, it's all about hedging bets, they do whatever they like and nobody stop them.

 

Ah ha so "they" haven't been suppressing the price all this time they've been keeping it inflated!

The World is bigger place than the CME or local bullion dealer. You have demonstrated my point perfectly thank you 🤗

[theman73]

2 minutes ago, ArgentSmith said:

Ah ha so "they" haven't been suppressing the price all this time they've been keeping it inflated!

The World is bigger place than the CME or local bullion dealer. You have demonstrated my point perfectly thank you 🤗

They are suppressing silver and manipulating the price of gold.

Please don't forget that the gold market is 10x bigger than silver.

[ArgentSmith]

8 minutes ago, theman73 said:

They are suppressing silver and manipulating the price of gold.

Doesn't work like that due to arbitrage sorry.

Edited March 7 by ArgentSmith

[theman73]

3 minutes ago, ArgentSmith said:

Doesn't work like that due to arbitrage sorry.

Arbitrage between gold and silver?

Arbitrage created by them for them?

This is how they make money.

Edited March 7 by theman73

[ArgentSmith]

Arbitrage between manipulated price and real price, if silver is suppressed I take delivery and sell for "real price", if gold contract is artificially inflated (*insert lol) I buy and deliver to CME. Arbitrage opportunities can and do exist but keep markets in check, it's not really viable for an entity to stay on the wrong side of such arbitrage.

In this case gold demand is coming from China

[theman73]

4 minutes ago, ArgentSmith said:

Arbitrage between manipulated price and real price, if silver is suppressed I take delivery and sell for "real price", if gold contract is artificially inflated (*insert lol) I buy and deliver to CME. Arbitrage opportunities can and do exist but keep markets in check, it's not really viable for an entity to stay on the wrong side of such arbitrage.

In this case gold demand is coming from China

As you wish, have a nice day.

Just a thought from a 50-year-old coming to the UK from an ex-communist country:

The free market exists up to the corner coffee shop, anything above is manipulated, monopolised, or distorted to one interest or another.

Of course, you are free to believe this is not true and of course, I will die with this in my mind.

[ArgentSmith]

8 minutes ago, theman73 said:

Just a thought from a 50-year-old coming to the UK from an ex-communist country:

 

If a price of a good is kept/fixed artificially low over a long period of time the result is a shortage of that good? I don't see a shortage of Silver. Maybe you would you agree given price controls were used by communists. Have a great day Lucus 🍻

[theman73]

5 minutes ago, ArgentSmith said:

price controls were used by communists

1. JPMorgan Traders Convicted of Fraud and Manipulation: In August 2022, a federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) of fraud, attempted price manipulation, and spoofing. This multi-year market manipulation scheme involved precious metals futures contracts and spanned over eight years. The traders engaged in thousands of deceptive trading sequences for gold, silver, platinum, and palladium futures contracts traded through the New York Mercantile Exchange Inc. (NYMEX) and Commodity Exchange Inc. (COMEX) ¹.

2. Dismissal of Antitrust Lawsuits Against Banks: In 2018, a U.S. judge dismissed five large banks—Bank of America, Barclays, BNP Paribas, Standard Chartered, and UBS—from two antitrust lawsuits. These lawsuits alleged multi-year conspiracies to rig prices for hundreds of billions of dollars of transactions in the global silver and gold markets. Despite strong evidence, the banks were dismissed from the lawsuits ².

3. The Hunt Brothers’ Silver Manipulation: Back in 1979-1980, oil baron brothers William and Nelson Hunt reportedly bought upwards of 35 million ounces of silver worth at least US$1 billion. The Hunts were buying both physical silver and silver futures, and they took physical delivery on futures contracts instead of settling for cash ³.

4. Deutsche Bank’s Settlement: In 2016, Deutsche Bank agreed to pay a $38 million settlement in a class-action lawsuit alleging that it conspired with other banks to manipulate the silver market. The lawsuit claimed that these banks suppressed silver prices through coordinated trading activities .

5. HSBC’s Silver Price Fixing Investigation: In 2014, HSBC, one of the largest banks in the world, faced an investigation by the U.S. Department of Justice (DOJ) over allegations of silver price fixing. The DOJ was examining whether HSBC manipulated the silver market by suppressing prices .

6. CFTC’s Investigation into Silver Futures Market: The U.S. Commodity Futures Trading Commission (CFTC) has conducted several investigations into potential price manipulation in the silver futures market. While some cases resulted in settlements, others remain under scrutiny 

Like I said, feel free to believe that nothing above is true.

Have a nice day.

[ArgentSmith]

8 minutes ago, theman73 said:

Like I said, feel free to believe that nothing above is true.

 

maybe read what I said

[timsk]

@theman73 & @ArgentSmith,

Interesting exchange of views. I don't know about other subscribers to the thread (obviously!), but I'm seesawing with every post - you both make good points! 👍

My view is that while silver and gold are clearly correlated, central banks and governments don't buy silver - they buy gold. This is the prime reason for the expanding ratio between the two metals and why gold is hitting all time highs while silver isn't doing much. But, I do believe silver's time will come. Namely, when the $USD collapses - which it surely will - at which point the distance between the metal and 'da moon' will shorten significantly. Just my £0.02p worth!

[Petra]

🤔😮😮oh no! Now it’s down 28p😮🤔🤔

[theman73]

2 minutes ago, Petra said:

🤔😮😮oh no! Now it’s down 28p😮🤔🤔

Totally unnecessary and unwelcomed.

Down 28p...

 

15 minutes ago, timsk said:

@theman73 & @ArgentSmith,

Interesting exchange of views. I don't know about other subscribers to the thread (obviously!), but I'm seesawing with every post - you both make good points! 👍

My view is that while silver and gold are clearly correlated, central banks and governments don't buy silver - they buy gold. This is the prime reason for the expanding ratio between the two metals and why gold is hitting all time highs while silver isn't doing much. But, I do believe silver's time will come. Namely, when the $USD collapses - which it surely will - at which point the distance between the metal and 'da moon' will shorten significantly. Just my £0.02p worth!

Spot on.

[ZRPMs]

12 hours ago, silversky said:

Your own weight in kilos is a good start.

Too be fair, I have had quite a few pies. So might not be attainable. But thanks for the info

[silversky]

53 minutes ago, ZRPMs said:

Too be fair, I have had quite a few pies. So might not be attainable. But thanks for the info

Yeah but that's why the monopoly guy is rich.  He keeps his own weight in Silver!!  When it moons to a 30:1 gold/silver ratio, and gold pushes up to £3000 an ounce, Silver will be up at £100 an ounce.  A moderate male weighs approx. 80kg or 2572 troy ounces.  Times that by £100 per ounce and it comes out at a cool quarter million.  Enough to pay off a small flat and free a man from paying a mortgage just to have somewhere to sleep.  But if the gold silver ratio collapsed to 15:1  as some believe it might in a serious financial crisis, then that would mean £200 an ounce of Silver and a cool half mil.  Enough to pay for a moderate sized family home.  But for pie eating chunkers who weigh closer to 120kg or 3858 ounces, that takes it all the way to a sweet three quarters of a million pounds, which is enough to pay off that oversized house he bought when measuring peacocks with the guys in the bank.

Of course, this all relies on Silver continuing to be viewed as precious rather than crypto or the like, and that gold doubles from here, which it will more than likely do in any real financial crisis.

100kgs will certainly see some life changing results when the big day comes again for silver.  And the way things look, it will come, it's just how many decades do we have to wait in the meantime?

Edited March 7 by silversky

[ZRPMs]

16 minutes ago, silversky said:

But for pie eating chunkers who weigh closer to 120kg or 3858 ounces,

Folks, I'm going to need a bigger box. 

[SidS]

Was I the only one who had to look up how much they weigh in kg?

😁

If it's not measured in stone, then I have no clue.

[ZRPMs]

6 minutes ago, SidS said:

Was I the only one who had to look up how much they weigh in kg?

😁

If it's not measured in stone, then I have no clue.

No I had to give google conversion a whirl. Was half expecting it to come back with, "How many people are you weighing". 

[SidS]

It's like the Marie Celeste in here...

😁

[ZRPMs]

1 minute ago, SidS said:

It's like the Marie Celeste in here...

😁

Wen movement........anything

 

 

 

I'm off back to the £1,700 party. Laters

[gji25]

Party time for Silver soon

 

[FriedrichVonHayek]

https://www.bullionstar.com/charts/silver-price-today

Silver is $26.75 per ounce in Shanghai.

[Gruff]

 

 

[HonestMoneyGoldSilver]

6 hours ago, Gruff said:

I'm pretty sure Panda had these, there have been a few spectacular kilo coins like one @Fenlander1 and @theman73 have bought. @ArgentSmith picked up a beauty the other day. Anyway, come back @Panda6Pack and flog us some KOMSCO 💗