Silver Monitoring Thread £ (GBP) only.

[timsk]

1 hour ago, 0laf5on said:

Is silver on the move up???

Unlikely.

It's near the top of the channel it's been in for the last three years. Unless and until price breaks out of said channel, i.e. above £22.00 - it's just business as usual - nothing to see here, IMO.

[Zhorro]

18 hours ago, 0laf5on said:

Is silver on the move up???

Looks to be making a move: £20.40, up 11.4% in the last month:

[FriedrichVonHayek]

Silver is still dirt cheap, the Gold/Silver ratio is around 88, I won't be getting excited until it goes below 80.

[Dom]

To the moooooonn! 🚀

[MBTPSilver]

Nice to see silver rising again, and it's good that they're healthy increases. I'd rather see silver put 50p a week on for the next two months than see it spike to £24 this week and just collapse again when the paper owners offload.

[goldmember44]

Looking at gold, silver now looks really attractive. It is nowhere near ATH, but beginning to want to follow gold's trend, it seems. Gold will still go up a lot more, I'm convinced, but the safer and smarter buy at this point might be silver.

[sellerstacker]

7 minutes ago, goldmember44 said:

Looking at gold, silver now looks really attractive. It is nowhere near ATH, but beginning to want to follow gold's trend, it seems. Gold will still go up a lot more, I'm convinced, but the safer and smarter buy at this point might be silver.

Looks very much like it. Silver playing catch-up.

[dicker]

20.71

A very good day

[CANV]

A move up in silver means. Global growth economically , a new battery/solar panel that uses a shitload of silver or ….even the plebs getting worried about the state of things 

[HonestMoneyGoldSilver]

20 minutes ago, CANV said:

A move up in silver means. Global growth economically , a new battery/solar panel that uses a shitload of silver or ….even the plebs getting worried about the state of things 

Bit of both

For the moonwalk POV check out the delta between Total Demand and Total Supply, with demand outstripping supply by > 430 million ounces since 2021, or about 42% of the annual production in 2023

[gji25]

here we go

 

[Zhorro]

According to BBP the close is £20.80

[ArgentSmith]

10 hours ago, goldmember44 said:

Looking at gold, silver now looks really attractive. It is nowhere near ATH, but beginning to want to follow gold's trend, it seems. Gold will still go up a lot more, I'm convinced, but the safer and smarter buy at this point might be silver.

If Gold gets to $4000 which I think it can and Silver ratio dips to 40 (assuming FX remains the same) we get £80 Silver in the next couple of years.

Bull case lol

[HonestMoneyGoldSilver]

5 minutes ago, ArgentSmith said:

If Gold gets to $4000 which I think it can and Silver ratio dips to 40 (assuming FX remains the same) we get £80 Silver in the next couple of years.

Bull case lol

Hard to take you seriously with that Fidelity quote in your signature

[ArgentSmith]

2 minutes ago, HonestMoneyGoldSilver said:

Hard to take you seriously with that Fidelity quote in your signature

Makes Peter Schiff look like a **** though doesn't it 🤣

Edited April 2 by ArgentSmith

[dicker]

Silver at 21 is about the best it’s been in 4 years. Before that the last time we saw these levels was in around 2012.

[dmcac]

20 hours ago, goldmember44 said:

Looking at gold, silver now looks really attractive. It is nowhere near ATH, but beginning to want to follow gold's trend, it seems. Gold will still go up a lot more, I'm convinced, but the safer and smarter buy at this point might be silver.

No doubt I've been buying hard lately... When I saw gold making new ATH running like this and silver lagging with a gold to silver ratio 90:1 I bought so much.... If I had access to my gold I would be swapping some for more silver 😁

 

This a great opportunity no doubt

[SidS]

17 minutes ago, dmcac said:

No doubt I've been buying hard lately... When I saw gold making new ATH running like this and silver lagging with a gold to silver ratio 90:1 I bought so much.... If I had access to my gold I would be swapping some for more silver 😁

 

This a great opportunity no doubt

Agreed. I've got a large silver order on going. So I hope the price stays down!

[timsk]

I don't want to be a party pooper or trample on anyone else's parade etc., nonetheless, I think those of you who are thinking the moon rocket has taken off are being a tad premature. Sorry! 😉

The weekly Heikin Ashi chart below shows the channel (in yellow) in which price has been bouncing around for the past three years. The blue arrows show price having visited the top of the channel, i.e. where it now is (give or take a little), no less than six times since the tail end of 2020. The point being, there's nothing that price is doing now that it hasn't done many times before. Given what gold has done in the past month, one could make the case that silver should have done considerably better than it has and that if gold pulls back from its highs (very likely), silver could easily waterfall back down towards the bottom of the channel.

So, from a technical analysis perspective, before I get too excited, here's what I want to see price doing . . .

A. A clear breach of the top of the channel at £21.00. This doesn't mean sticking it's nose above and immediately pulling back inside the channel, it means spending at least one week above it. Ideally, it would push up to the August 2020 high indicated by the teal coloured line.

B. Then I want to see price pull back to the top of the channel and for that to act as support. Price can stick its nose below £21.00 - but I don't want to see a weekly close below that level.

C. Having established £21.00 as support, price then pushes up and repeats this process at the August 2020 highs (teal line). If/when price establishes this as support (it's currently resistance), then I'll get excited about it 'going to da moon'.

To summarise, the current price level of circa £21.00 and the August high indicated by the teal coloured line are currently both resistance levels. Both of these need to be turned into support levels before there's any real prospect of price moving substantially higher. (NB: this all assumes 'normal' market conditions. If NATO wades into the Russia / U.S. conflict or Iran wades into the Israel / Hamas conflict, at which point nuclear war becomes a very real possibility - then all bets are off and the above goes out the window. But, under those circumstances, so does everything else. 😞 )

Unless and until the above happens, it's more or less business as usual, IMO. In fact, price was at the same level (as it is now) this time last year (spring 2023) and ditto for the year before that (spring 2022). Needless to say, just my £0.02p worth! 

 

Edited April 3 by timsk

[Upsidedown]

Silver looking good 👍 

[James32]

I get more enjoyment out of silver breaking £21 than gold breaking £1800.

Who's with me??  🤣 

[ZRPMs]

1 minute ago, James32 said:

I get more enjoyment out of silver breaking £21 than gold breaking £1800.

Who's with me??  🤣 

Yeah, I've got a large amount of silver that I might want to sell. but all in one hit. So silver going up is great news.

[katyc]

1 minute ago, James32 said:

I get more enjoyment out of silver breaking £21 than gold breaking £1800.

Who's with me??  🤣 

Silver will have it's day. Tech, AI etc.... As I've said before; copper is the highway, silver is the glue.

It's COMING (even if it's taken 50+ years so far 😆). And with the price of gold people will have no choice but to move over!

[katyc]

1 minute ago, ZRPMs said:

I've got a large amount of silver that I might want to sell. but all in one hit.

There you go. I'll PM you my address 😬

[ZRPMs]

Just now, katyc said:

There you go. I'll PM you my address 😬

 Just a sample of some of the coins I have.