Silver Monitoring Thread £ (GBP) only.

[AuFinger]

With UK 1oz you have a stop at £2 in value.

Much more to gain than lose even buying now.

Greece is a big issue but it's lose lose. No outcome would make silver drop. Billions will be lost or written off in any event.

Pushing silver low through manipulation is possible but how likely?

All that does is subsidise the purchase of silver by buyers at high cost. Better to just keep it 'low enough' and to remove bull market signals.

[HawkHybrid]

Greece is a big issue but it's lose lose. No outcome would make silver drop. Billions will be lost or written off in any event.

 

I was thinking something similar. if gold and silver has

already dropped and priced in a deal before the deal

is signed, then surely there's no outcome that'll make

it drop further.

 

HH

[SilvergunSuperman]

It is often reported that many silver miners struggle to break even at current prices so I don't think it can go too much lower, certainly not enough to make me think twice about buying.

 

I am tempted to back up the truck but I was planning to add some gold this week, decisions decisions...

[AuFinger]

Long term, assuming trends from 70s are somewhat reliable and indicative, and current manipulations don't nuke them entirely.

Gold and silver down, but gold more.

Silver up lots.

Gold down lots.

At current price silver has a stop at 20% value vs gold at nearer 12% (UK RM face value)

Silver is much closer to long term inflation adjusted average than gold is.

If you're picking a PM today silver has a lot more going for it imo, more so without vat.

If you subscribe to chaos prevailing over trends then no pm is a good investment ever.

[HelpingHands]

9s.

All bets are off.

[HighlandTiger]

Eights here we come

[HelpingHands]

Not now re: Greece.

[AuFinger]

'Twas near here 6 months since, and 8 months too.

It's relatively low so buy if you're holding for a year or more. Inflation will burn off any apparent stasis in value of Ag.

Greece is irrelevant. Lose lose situation. No outcome could make silver drop in a free market. If silver is pushed lower by manipulation then it's essentially subsidised cheap silver!

All imo.

Edited June 24, 2015 by AuFinger

[Abbotssilvercoins]

Found this very interesting article this morning....

For the first time in history the number of Comex Open Interest contacts has exceeded 200,000 and with 5,000 oz per contract that is 1,000,000 (1 billion oz) of silver. Total annual amount mined is approx 10% less than that.

My thoughts?

Nothing new here except that it is evidence that the massive market manipulation is increasing in its magnitude in what is nothing more than a huge naked short position on silver.

Could we see a Comex default?

http://www.tfmetalsreport.com/blog/6942/silver-short-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TFMetalsReport+%28TF+Metals+Report%29

[KDave]

Silver fell below that magic £10 an ounce this morning. Very tempting to jump in on the STG bullion for a punt!

[immmelting]

Now that the Greek government has decided to have a referendum on whether to accept bailout money from Europe. I recon this is it guys.

 

Good low silver spot this weekend. I'm no expert, but you might regret not buying silver this weekend. This could be the turning point.

[AuFinger]

From what I can see the Troika won't extend their offer beyond June, so a referendum next weekend will be for out, or an "in" that isn't even on the table any more.

Silver and gold will be in the doldrums as long as keeping it low is reinforcing the story that "everything is awesome" in the western debt laden economies.

[immmelting]

From what I can see the Troika won't extend their offer beyond June, so a referendum next weekend will be for out, or an "in" that isn't even on the table any more.

Silver and gold will be in the doldrums as long as keeping it low is reinforcing the story that "everything is awesome" in the western debt laden economies.

 

 

Looking on the flip side. I suppose a default will only weaken the euro and add to a stronger dollar, so we could see silver go lower. I don't know what to think. lol

[simon13]

Its always worth looking at graphs of gold and silver in different currencies and be glad of the strong £ while your stacking

[AuFinger]

Looking on the flip side. I suppose a default will only weaken the euro and add to a stronger dollar, so we could see silver go lower. I don't know what to think. lol

No it's fairly impossible to know what will happen.

Manipulative tampering and free market dynamics trying to fight together over years has caused a real mess.

All I think is that it's cheap right now and a good bet to have something outside of the banks greedy fingers.

Also it's fairly easy to get. Try buying £1,000 BTC, it's a nightmare in comparison!

Getting a safe cold storage and then buying it. A tube of sovs is MUCH easier and works after a CME! Haha.

Edited June 28, 2015 by AuFinger

[HawkHybrid]

Looking on the flip side. I suppose a default will only weaken the euro and add to a stronger dollar, so we could see silver go lower. I don't know what to think. lol

 

a greek default should raise the price of pm's

as people reduce their investments in a weakening

euro. confidence would take time to return to the

euro and in the meantime it'll keep on weakening.

would current holders of the euro follow germanys

lead and increase their holding of gold? do they buy

dollars that china have in abundance and may not

continue to accumulate or gold that china is still

buying? would current buyers of gold eg china, india

increase their buying of gold as a just in case/opportunistic

move?

 

HH

[AuFinger]

The big question will be when free markets overpower Keynesian meddling.

Suddenly you can predict outcomes somewhat successfully.

But suddenly you might find gold and silver prices up but you're out of a job.

Or gold and silver up, and your mortgage up 3x.

Or gold and silver super cheap but no free cash to buy it any way.

Tough times ahead for all involved in Western debt based Keynesian economies!

[FriedrichVonHayek]

Looking on the flip side. I suppose a default will only weaken the euro and add to a stronger dollar, so we could see silver go lower. I don't know what to think. lol

I think the Dollar will strengthen compared to all currencies but counterintuitively the Euro could also strengthen as the Eurozone loses Greece its weakest link which would inspire confidence in the Euro which in turn could spell disaster in the short term for precious metals.

[AuFinger]

I'd agree if the book stopped with Greece, but the PIIGS will just become PIIS.

And as debt leverage unwinds the obvious indebtedness of the PIIS is magnified for mere mortals to see, rather than hidden in bamboozling economic speak and accountancy fluff.

I suppose it's called contagion for a reason, and a perfect example of why the times we're in are unsustainable.

Debts sold to others as leveraged collateral for more debt is a recipe for disaster, and a disaster pie is what we're all gonna be eating soon.

The last thing the ponzi needs is members leaving!

Edited June 28, 2015 by AuFinger

[Cointreau]

It's 1.425 euros to the pound now.

[HelpingHands]

I'm trying to stay awake for at least another ten minutes to see whether owt or nowt happens.

[HelpingHands]

And we're off. +20p

[simon13]

Capital controls in Greece.  The public can't transfer funds overseas or withdraw more than 60 euros per day.  Glad I transferred my euro holiday/shopping fund to Swiss francs this morning.

[HighlandTiger]

and we're almost back to where we started when the market closed for the weekend....

 

So much for silver going to the moon. Unless of course the moon is currently about 2 inches off the floor 

[FriedrichVonHayek]

I still think Greece is a storm in a tea cup.

I am convinced that there will be a deal as the Eurozone and U.S do not want Greece to fall under the influence of the Russians.

The Russians would love to have a naval base in Greece and I suspect the Greek government know this.

Silver will continue to be a long term buy.