Silver Monitoring Thread £ (GBP) only.

[Scuzzle]

What I don't get is why the US Silver Eagle is the best selling coin in the world,  As silver goes ever downwards surely the cheaper Canadian Maple with it's $5 dollar value makes far more sense to buy than a coin with a far higher premium and a $1 value.  If you are heading to $8 an ounce surely with a $5 coin you know you will always have this much at least.

[simon13]

$5 CAD is like £2.46

[silversword]

And $1 (US) is about £0.65

[HelpingHands]

It's not easy to exchange coins in a foreign country at face value though.

[HighlandTiger]

What I don't get is why the US Silver Eagle is the best selling coin in the world,  

 

The US dollar is currently the worlds default currency in a crisis. Look how Zimbabwe got out of its spiralling hyperinflation by people ditching their own currency and using US dollars. So for a start, inspite of people believing that the USA is the most hated country in the world, it is actually the country that the most people would like to live in, if they had to emigrate somewhere.

 

You also have 320 million people in the USA who wouldn't even consider buying anything without the dollar on, what with their patriotism and all that. And the fact that the world does not exist outside of their borders anyway

 

I think you'll find THAT, is why the US mint can churn out vast amounts of ASE's and they get snapped up immediately

[Pipers]

Silver at £9.53 paper spot 

 

Physical  £11.53

Edited September 2, 2015 by Pipers

[HighlandTiger]

you sure. it's around £9.50 or so on all the charts I can see

[Pipers]

Yeah your right I'll correct it

[silversword]

Quite telling that, not that far back we all watched the spot price hover above £11 thinking we would hold off and see if it dipped into the £10.90s. Now it's down around £9.60 and I'm thinking it's a little dear and maybe I should wait for another drop.

[DRooster]

Rather strange price spike just a minute ago. £9.42 straight up to £9.69 which makes the graph look a bit odd compared to most movements...

 

Any reason?

[HawkHybrid]

Rather strange price spike just a minute ago. £9.42 straight up to £9.69 which makes the graph look a bit odd compared to most movements...

 

Any reason?

 

they spike it down to trigger stop losses when

they want it to rise. it's not good enough to get

it right, you also need a big buffer to back up

your decision if you want to stand a chance of

making money.

 

HH

[Cointreau]

According to BJF, Apmex have a buyback price on 90% silver of 2 dollars over spot.

They are currently out of stock on junk silver. And the premium on these coins was sky high

before they sold out of them. Normally, there is a very small premium. Just goes to show the disconnect

between paper and physical.

[Cointreau]

The Fed rate decision is at 7pm tonight GMT.

[Stu]

The Fed rate decision is at 7pm tonight GMT.

My money is on a token 0.25% increase to save face. Anymore, even .5% would see zombie companies going bust! staying the same or announcing QE4 would see a rush for the exits. They are between a rock and a hard place and the fed has got no more Vaseline.

Edited September 17, 2015 by Stu

[simon13]

So, if no rate hike, we should see an increase in gold and silver. Might be an idea to buy a little at todays prices.

I predict no rake hike and recent prices to pretty much be the bottom for gold, maybe not for silver.

[Paul]

it will be the usual same old, same old i reckon, they will hint at rate hike down the road yadda yadda yadda - as per the last eleventeen times prior 

 

hinting will encourage a bit of paper pushing of the price on friday so they can get their free friday night champas at the filofax & firkin in canary wharf

[KDave]

The Fed rate decision is at 7pm tonight GMT.

I almost made a thread this morning about this to discuss the effects on gold and silver, if the rates are raised and also if they are not. I assume if rates are raised, people will exit gold, silver, the stock market to chase higher bond yields? If they are not raised, the stock market will presumably shoot up again, but what will happen to gold and silver in such circumstances? Will people leave PM's to chase stocks or will gold and silver benefit?

[HelpingHands]

Ive already mentioned this in the gold thread but...

If there is no change the talk will move to a Dec rate hike. A 'no' is supposed to sound like a 'not quite yet' so there may be a temporary jump in pms then move back down in anticipation of the Dec decision.

I'd say the only drastic moves would be either:

An announcement that rates are going up.

An announcement that rate moves will be put off for a considerable amount of time.

An announcement of more QE.

All three seem unlikely to me. Me being correct is also unlikely.

[DRooster]

I agree with Stu : 1/4% sitting on the fence decision,

which will probably not affect metal spot prices at all.

 

This week's £9.30 was available for a quite some time, I hope some folk bought at that.

I was waiting for my Polarbears to arrive and by the time I got a look at them the spot was rising.

Still, £9.60 ain't bad.

 

Bwaaaah! Wrong was I. *sob* zero it was.

Edited September 17, 2015 by DRooster

[HelpingHands]

Rates on hold.

http://www.telegraph.co.uk/finance/economics/11871603/federal-reserve-september-interest-rate-decision-janet-yellen-live.html

[Cointreau]

Rates on hold.

http://www.telegraph.co.uk/finance/economics/11871603/federal-reserve-september-interest-rate-decision-janet-yellen-live.html

They're gonna have to interfere with the pm markets to hold down the price.

[Paul]

  ....rates on hold .....what do i win ????

 

I can now call myself an "industry expert" & can post videos on youtube with my proven 'knowledge of the markets'

[Cointreau]

I expected a rise so they could save face.

[HighlandTiger]

and up silver goes.......toooooo the moooooooooooon.

 

[DRooster]

Can we actually buy shares in Clangers?