Silver Monitoring Thread £ (GBP) only.

[DarkChameleon]

15 minutes ago, Scuzzle said:

WTF happened to the silver price, down 70p today.

America China, brexit, jobs report America, breather from hectic rise...all the above.

[Caratacus]

54 minutes ago, DarkChameleon said:

America China, brexit, jobs report America, breather from hectic rise...all the above.

A breather, but I cannot see the recession disappearing..... confusingly the pound rose against the dollar - does the finance world not understand the word "momentum"?

[KDave]

I have no idea, but my guess is the $ has topped, £ has bottomed, gold and silver are correcting from extremely overbought and reflecting what the mining shares have been projecting - that the market is not expecting sustained higher gold price and the market is usually right on this one. 

This is the first pullback in the move since May, an epic run. Hopefully consolidation will last as long, into the seasonal lows and buying can recommence. 

[goldmember44]

I think this is just a natural correction, not the end of the new bull market in precious metals. 

As for the pound strengthening against the dollar, this was to be expected since the shenanigans in the British parliament, effectively blocking a no deal Brexit. At the moment, the remainers have scored a tactical victory and the fear of Brexit subsides.

[Tickety]

1 hour ago, Scuzzle said:

WTF happened to the silver price, down 70p today

Just a bit of a correction markets reacting to UK parliament and hopefully a US - China trade deal being worked on.

Edited September 5, 2019 by Tickety

[TonyS]

1 hour ago, Scuzzle said:

WTF happened to the silver price, down 70p today.

Good  

[goldmember44]

3 minutes ago, TonyS said:

Good  

Yes. We can buy more cheap silver before it goes up again

[Drexel]

Hi all, I’ve been buying Silver ETFs (ishares) over the past couple of months as a hedge against sterling volatility. I believe in long term value / up side of silver and I’m thinking the current price pull back provides a good opportunity to buy. But I also want to have liquidity to convert back to £ if necessary. I understand that  Brittanica coins are good in terms of not being subject to VAT & CGT. If anyone has recommendations for sources to purchase and to sell back to if necessary in the future.. any thoughts would be appreciated ..  

[Notafront4adragon]

12 minutes ago, Drexel said:

I understand that  Brittanica coins are good in terms of not being subject to VAT & CGT.  

VAT is applicable CGT isn't. 

[Drexel]

Ok.. thanks for clarifying.. could you let me know also what commissions / costs are considered reasonable against the market spot price when purchasing and when selling?

[goldmember44]

11 hours ago, Drexel said:

Hi all, I’ve been buying Silver ETFs (ishares) over the past couple of months as a hedge against sterling volatility. I believe in long term value / up side of silver and I’m thinking the current price pull back provides a good opportunity to buy. But I also want to have liquidity to convert back to £ if necessary. I understand that  Brittanica coins are good in terms of not being subject to VAT & CGT. If anyone has recommendations for sources to purchase and to sell back to if necessary in the future.. any thoughts would be appreciated ..  

For the cheapest silver coins, you can buy VAT-free from the European Mint in Estonia. The Silver forum does group orders that go, say, once a month or so. It works out a lot cheaper than buying silver from online retailers in the UK. The user @BackyardBullion manages the group orders, you can check out his posts on the arrangements.

[Notafront4adragon]

11 hours ago, Drexel said:

Ok.. thanks for clarifying.. could you let me know also what commissions / costs are considered reasonable against the market spot price when purchasing and when selling?

No I can't, that's kinda up to you. I'd use a mixture of asking prices on here, eBay and the bullion dealers to get that answer.

[sixgun]

Non Farm Payroll today - always antics into the run up and during. 

[sixgun]

Poor printout in NFP - as one would predict from the smash of gold and silver - price taken down ahead of poor figures -  price rebounded strongly - we would have gone through $20 if the usual suspects had not taken price down. Some people say the market is not manipulated. Other people don't have blinkers on. 

Edited September 6, 2019 by sixgun

[KDave]

Buying opportunity on its way?

[Silverclown]

Silver looks like it’s going for another run hopefully:)

[goldmember44]

Okay now I understand the reason behind the volatility -- the European Central Bank has cut interest rates again, sending them into negative territory. This is very bullish for gold and silver. Also, the ECB is starting a bond-buying programme (i.e. printing money out of thin air) to the tune of 20 billion euros PER MONTH... with no end in sight. This will help gold and silver to increase every month gradually for the next few years, very likely... there are some "good times" ahead it seems for precious metals... and, the devaluation of national currencies.

[DarkChameleon]

39 minutes ago, goldmember44 said:

Okay now I understand the reason behind the volatility -- the European Central Bank has cut interest rates again, sending them into negative territory. This is very bullish for gold and silver. Also, the ECB is starting a bond-buying programme (i.e. printing money out of thin air) to the tune of 20 billion euros PER MONTH... with no end in sight. This will help gold and silver to increase every month gradually for the next few years, very likely... there are some "good times" ahead it seems for precious metals... and, the devaluation of national currencies.

Now remember er that you still have to live,if the currency drops your exports drop, your manufacturing jobs drop and your wages drop...your pms might be profitable but will it offset what you lose by a weakened currency?...unless most if not all your savings are in pms then most likely not...it reduces your loss but it probably won't make you better off then having a static currency and no pms.

[goldmember44]

2 minutes ago, DarkChameleon said:

Now remember er that you still have to live,if the currency drops your exports drop, your manufacturing jobs drop and your wages drop...your pms might be profitable but will it offset what you lose by a weakened currency?...unless most if not all your savings are in pms then most likely not...it reduces your loss but it probably won't make you better off then having a static currency and no pms.

I think it will depend on your level of pm exposure... for myself, I don't own that much precious metals yet since I've only relatively recently started collecting. But it's definitely better than nothing, it will help a great deal.

[Silverclown]

What’s your opinion on this?

https://www.bbc.co.uk/news/business-49760502

Edited September 20, 2019 by Silverclown

[sixgun]

4 minutes ago, Silverclown said:

What’s your opinion on this?

https://www.bbc.co.uk/news/business-49760502

The Fed has been pushing USD into the banking system over the last few days b/c the Saudis withdrew funds following the oil refinery attacks. There was already a liquidity shortage b/c the US Treasury is issuing large amounts of Treasuries but foreigners don't want them - foreigners have not been buying US debt for several years. The bonds are left on the books of the underwriting banks which is soaking up dollars and they are struggling to get rid of them. The combination of the two has resulted in a shortage of cash - the Fed invented $billions at the click of a mouse, at a keystroke to ease the situation. This is a sticking plaster - foreigners are not financing the US debt and there is increasing de-dollarisation.  

[KDave]

39 minutes ago, sixgun said:

The Fed has been pushing USD into the banking system over the last few days b/c the Saudis withdrew funds following the oil refinery attacks. There was already a liquidity shortage b/c the US Treasury is issuing large amounts of Treasuries but foreigners don't want them - foreigners have not been buying US debt for several years. The bonds are left on the books of the underwriting banks which is soaking up dollars and they are struggling to get rid of them. The combination of the two has resulted in a shortage of cash - the Fed invented $billions at the click of a mouse, at a keystroke to ease the situation. This is a sticking plaster - foreigners are not financing the US debt and there is increasing de-dollarisation.  

All of this is linked back to FED policy of tightening over the last 18 months they have been tightening for too long and now that the liquidity issue has been revealed, they are turning the taps back on too late. How high inflation gets now will be determined by the extent of the official QE programs when they start again, this is the beginning the knee jerk - it won't be long before realisation sets in followed by official QE and inflation through the roof into the 2020's. 

[sixgun]

1 hour ago, KDave said:

All of this is linked back to FED policy of tightening over the last 18 months they have been tightening for too long and now that the liquidity issue has been revealed, they are turning the taps back on too late. How high inflation gets now will be determined by the extent of the official QE programs when they start again, this is the beginning the knee jerk - it won't be long before realisation sets in followed by official QE and inflation through the roof into the 2020's. 

There are quite a few factors in play. The ECB was supporting US Treasuries - this recently stopped. Foreigners aren't buying Treasuries and in reality haven't been for several years - they are now in reality junk bonds. Treasuries are still selling but the cash to buy them is being sucked out of the US financial system, which causes a liquidity problem. Then something else crops up like the Saudis pulling cash out of the banks following the oil refinery attacks and Houston we have a problem. 

The US government has become completely unaccountable with FASAB 56 - "national security concerns now override the need for public financial transparency"  The missing $21 trillion or however much it really is, can no longer be questioned. The need to pull the curtain over the accounting books suggests it has been done to hide wanton criminality and a system teetering on the edge of the abyss.   https://www.thesiriusreport.com/economics/fasab-56-dollar-us-treasury/
All the data is fake - this is not the greatest ever economy. It is one that was gutted and ran on credit - credit the world is no longer willing to provide.

Shale oil is bankrupt and declining - the banks having put $2 trillion in - where did those $trillions come from? 

i hear US based pundits talking - they are in denial, paid to talk sh1t or under a delusion imagining the USD will go on forever. The Petro-dollar is dying - rapidly. Russia has de-dollarised - sanctions achieved that. Putin intends to destroy the dollar. Saudi is selling increasing amounts of oil in EUR and CNY. Russia is buying oil from Iran in EUR and then reselling it.

Once upon a time the US would introduce democracy with regime change when states did not play ball - not been very successful lately - we see the absolute failure of a coup in Venezuela - right in America's backyard. Venezuala is under Russian and Chinese control. Iran is in the same fold. Iran controls a big slice of Iraq. Saudi is turning East and will break free. Trump says he has rebuilt the US military - it is the strongest in the world. The best in does is guard poppy fields. Russia is untouchable - Putin has warned the US it could be incinerated in 30 minutes - Russian technology is decades ahead - the expensive US defence system the Saudis bought didn't do them much good - Putin has offered the Saudis the S400 and security. The Russians have turned US warships in floating junk - caused them to crash into other ships - every ICBM could be triggered as their nose cones come out of the silos - America could incinerate itself - no need for the hypersonic Russian missiles that sit off America's coastline. 

The US can no longer bully the world to use the dollar and the world is at an accelerating rate avoiding the dollar. The Petro-dollar will die and with it the fuel that enables the Western cabal to wreck havoc. 

Edited September 20, 2019 by sixgun

[gustavus]

7 hours ago, sixgun said:

Russia is untouchable - Putin has warned the US it could be incinerated in 30 minutes - Russian technology is decades ahead - the expensive US defence system the Saudis bought didn't do them much good - Putin has offered the Saudis the S400 and security. The Russians have turned US warships in floating junk - caused them to crash into other ships - every ICBM could be triggered as their nose cones come out of the silos - America could incinerate itself - no need for the hypersonic Russian missiles that sit off America's coastline.

Posting my opinion as i see often in internet that russia is somekind of superpower. Thyer super only in bluff.

They are messing their missile tests, sinking own subs and buy their cheese abroad. St Petersburg cant even clean their own water (finland build and funded plants). And top of all they are feeding fake news all around.

Russian numbers about economics are as good as chinese. No one really knows. Thats why they are buying gold.

For normal russians dollar is the money they use. My hometown was in trouble last winter as local banks refused to change rubles for dollars (they dont keep dollars in reserve).

Next ten years will be exciting as (if) putin needs to be replaced. My guess is russia will break in parts.

 

[Silverclown]

4 hours ago, gustavus said:

Posting my opinion as i see often in internet that russia is somekind of superpower. Thyer super only in bluff.

They are messing their missile tests, sinking own subs and buy their cheese abroad. St Petersburg cant even clean their own water (finland build and funded plants). And top of all they are feeding fake news all around.

Russian numbers about economics are as good as chinese. No one really knows. Thats why they are buying gold.

For normal russians dollar is the money they use. My hometown was in trouble last winter as local banks refused to change rubles for dollars (they dont keep dollars in reserve).

Next ten years will be exciting as (if) putin needs to be replaced. My guess is russia will break in parts.

 

Russia now is a regional power, not a super power anymore. It’s a shame that they can’t come to terms with it and join the eu. Russia would make the eu stronger and if uk stays then eu would of of the strongest super states in the world.

it would never happen because Russia has found its market to sell to the opposition, but as they say business is business.