Silver Monitoring Thread £ (GBP) only.

[Cornishfarmer]

Maple watch

Gone up a little but won't milk spot

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[HelpingHands]

Do you think people who buy paper contracts believe they actually have any claim on gold and silver. Obviously we all know of the YouTube videos which state that 'one day everyone who thinks they have claims will find out they don't'. I'm more of the belief that such thinking would only apply to unallocated physical PM owners in storage and the paper holders are just playing a guess the price game.

I should add in by edit that I assume large industrial users will lock in future prices or whatever. I'd be interested on what kind of market % that is though and what % is just traders dicking about.

Edited October 1, 2014 by Helping Hands

[Cointreau]

I'm actually trading CFD's (contracts for difference). Unsure if you know much about this so I'll explain as if it's nothing. This is when you're buying actual contracts in the market through the broker (CFD provider). However you only need to place a 'margin' on the full contract amount. Each silver contract is 500oz (say $8500) but the margin requirement is 1.5% - so I only need to pay $127 in order to buy (and be liable for) the fluctuations in value of a 500oz contract. In my case, I bought 2.5 contracts, so that's 1250oz (or $21,250 value) but a margin requirement of only $318.75.

The margin requirement does actually drop lower when stops are placed. It's really just huge leverage on actual silver contracts. And a good indication of how easy it is to buy paper contracts of massive value without having the funds to pay for it!

CFDs are also used in buying shares - same principle.

However, unless you're a professional investor, or have more money than sense - stay clear of them. (I'm the former )

Thanks for the explanation. I imagine this is a trade on the Comex. Is that right? (The sharks know where your stop is.)

[Shamatti]

There you go. I told you yesterday as the bottom and it would go back up - and up it goes!

[FTYBR]

These are actually just contracts on the silver spot price (as opposed to orders for physical). All contracts for spot (and futures) are settled in cash. Nowt to do with comex.

That said, the brokers can see where stops and limits are

[FTYBR]

Do you think people who buy paper contracts believe they actually have any claim on gold and silver. Obviously we all know of the YouTube videos which state that 'one day everyone who thinks they have claims will find out they don't'. I'm more of the belief that such thinking would only apply to unallocated physical PM owners in storage and the paper holders are just playing a guess the price game.

I should add in by edit that I assume large industrial users will lock in future prices or whatever. I'd be interested on what kind of market % that is though and what % is just traders dicking about.

Spot and futures traders will only be looking for settlement in cash - because that's whats offered in the contract. You are correct in saying that the it's those investors with physical unallocated owners who could be left with a certificate of ownership.. And nothing else! At the same time, if silver opened one morning at $50 - no guarantee that you'd even get settlement for cash!

No idea on the second question you ask, but I'd imagine the percentage of hedging by miners/industry is minuscule in comparison to the amount of trades by hedge funds/banks

[Shamatti]

Lets get back on topic with spot price monitoring!

Many of us are very interested in learning about trading silver on markets. Perhaps a specific thread for that would be a good idea?

[craig12]

There you go. I told you yesterday as the bottom and it would go back up - and up it goes!

prophet says not  

[silverroller]

Its going to go alot lower yet, I reckon. What will cause to shoot up, when canada goes the same route as the USA in the property market. And thats tits up big time.

[Cornishfarmer]

Any one noticed that the Australian lunars don't seem to be dropping the same as the price/oz whether that's to do with the strength of the pound or they think it's a false dip

[craig12]

£10.53 seems an interesting figure if it slips below that then  who knows , this seems to be the price that it slightly rebounds then falls

[HelpingHands]

Let's also keep an eye on price changes on sites in Europe in case the EU version of QE is positive/negative for pick ups.

[simon13]

You mean Maple Watch! £12.60

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[garthy]

Big falls again for silver that aren't really showing up because the pound has lost over 1% to the dollar, but silver down to $16.80 and gold now at $1189, wow they just keep falling.....

[craig12]

going back to around feb 2010  when we saw this price

[Pete]

There are 60 watchers of this Britannia which makes me wonder where the price is headed ?

Are they all hoping to see a sale and grin at the poor sucker that paid so much or are they all genuine buyers in which case I ought to start listing mine.

 

 

[HelpingHands]

It's buy it now and they've sold a load. Darlington coins have a bit of a following.

[crazy hippo]

There are 60 watchers of this Britannia which makes me wonder where the price is headed ?

Are they all hoping to see a sale and grin at the poor sucker that paid so much or are they all genuine buyers in which case I ought to start listing mine.

time to list a few me thinks. 

[HighlandTiger]

What gets me is that they have sold 91 RM Lunar horses for £29.95 each.

 

http://www.ebay.co.uk/itm/2014-Royal-Mint-Lunar-Year-of-the-HORSE-2-Pound-1oz-999-Silver-Bullion-Coin-N-/111287068194?pt=UK_Coins_Bullion_Bars_SM&hash=item19e939e622

 

I can still buy them in the UK from various dealers for as little as £17 or £18 each. Even with Ebay / paypal fees and postage that still a nice little profit that can be made of over a fiver a coin. 

 

Need to have a think on this..................

[Shamatti]

Lets get back to monitoring spot price chaps!

 

£10.65. Slowly slowly sneaking it's way up again. I still think we are at the bottom now. Whether it is last week, this week, or next week, the bottom is upon us! lol

[crazy hippo]

Lets get back to monitoring spot price chaps!

 

£10.65. Slowly slowly sneaking it's way up again. I still think we are at the bottom now. Whether it is last week, this week, or next week, the bottom is upon us! lol

just hope its a cute bottom

[johnno]

Both gold and silver. Climbing slowly

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[a_a]

Lets get back to monitoring spot price chaps!

 

£10.65. Slowly slowly sneaking it's way up again. I still think we are at the bottom now. Whether it is last week, this week, or next week, the bottom is upon us! lol

 

I think it will touch £10 this quarter.

[simon13]

Maple Watch £12.87

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[Shamatti]

Peaked at £10.85 this morning. Still scraping it's way upwards. I think a_a might be right about giong back to £10, or even higher this next month or three.