Silver squeeze

[CollectorNo1]

Hi...everyone

 

Anyone got any views on this Silver squeeze that's supposed to be going on the 1st May???

 

Keeping seeing videos encouraging all Silver collectors/stackers to buy 100oz of silver this weekend or as much as you can....afraid 100oz is abit out of my budget atm..Whats everyone's views on this??

Regards 

Cd1

[Spark268]

well the squeeze the comex has failed this month at least, we know that already.

 

[CollectorNo1]

True...but from what I've been hearing this is Organised...be interesting to see what the Silver price will be Monday..if there is a significant change or just hype..mainly from the USA, I must add.

 

 

[dikefalos]

I don't like manipulating at all. Either in one or the other way. I don't need noone telling me what and when to buy. Just hope the premiums doesn't go higher as they allready are, thanks to the silversqeeze. 

Edited April 28, 2021 by dikefalos

[CollectorNo1]

I agree.....it seems to be starting to get out of hand Re:Britannia's...but for Kooks,Brumby,Pandas,Koalas well its ridiculous the premiums on those....what frustrates me is in the USA....they can buy 1oz Silver coins for $5 over spot because they have no taxes to pay...but that could be changing soon according to president Bidens plans to hike CGT etc....

 

[Bigmarc]

The Physical bullion market is such a small percentage of the silver market that I can't see what effect it would have. I think it's something like 5% of all silver mined goes into investable silver. What effect would the squeeze on 5% be? As previously stated, it would probably drive premiums up and in a few years time there will probably be an abundance of silver on the second hand market. Personally I am now putting my budget in the paper market and waiting for that point.

[DuaneL]

supposably since the squeeze started in Feb it has drained over 37 million ounces from the comex and lowered demand for paper silver (according to a write up on Seekingalpha), but at the cost of increasing premiums and reducing availability of physical silver, so seems the real winners are the dealers who could justify raising premiums while at the same time moving stock quickly.  Right now if I could afford spending another $2616 +$450 USD  in premiums (which is what it would cost me locally) on a 100 oz of silver I would rather buy  gold (though I have bought 62 oz of silver since Feb.)

[CollectorNo1]

So many different views,opinions...me, I'm in it long term so spot prices do not make me worry one way or another...premiums on the other hand are out of all our control... I believe Silver and Gold will rise significantly in the next few years,especially Silver..so am content to buy as much as I can and hope for a decent return...after all precious metals aren't an investment but a savings account in my opinion. 

 

Cn1

[modofantasma]

Some 100 oz bars on baird mint coming in looking "cheap" with vat compared to a lot of sales even on the 2nd hand market at the mo.

[CollectorNo1]

How cheap??????

[Bigmarc]

41 minutes ago, CollectorNo1 said:

So many different views,opinions...me, I'm in it long term so spot prices do not make me worry one way or another...premiums on the other hand are out of all our control... I believe Silver and Gold will rise significantly in the next few years,especially Silver..so am content to buy as much as I can and hope for a decent return...after all precious metals aren't an investment but a savings account in my opinion. 

 

Cn1

Because of the premium's is why I have gone into paper. I can keep my hand in the silver market for as long as it takes for the premiums to come down. Then I will convert into physical. Gold is a good buy at the moment. I have a generally low budget every month, so I have to maximize where that fiat goes to make a difference. 

 

[modofantasma]

5 minutes ago, CollectorNo1 said:

How cheap??????

Was coming up £23.xx per oz including the vat when I was looking earlier this week for the 100 oz bar

Looking on here tubes of bullion seem to be asking above 26 even 27 per oz? 

[CaptCaveMan]

2 minutes ago, Bigmarc said:

Gold is a good buy at the moment. I have a generally low budget every month, so I have to maximize where that fiat goes to make a difference. 

 

Very similar here apart from paper.

I've only just got into PMs and only a limited # ounces in silver Brit's.  Whilst premiums are off the scale I've decided to focus on steadily building up Sov's until silver settles as suspect it will.

I don't want the kids to have to wait years once I've shuffled off just to get back to where I started.

[sixgun]

@CollectorNo1
Nothing has failed. Physical silver is being taken out of the hands of the banks and into private hands. The COMEX is being drained. SLV is being drained. The mints are being drained. The dealers are selling out.

i have a friend who is in the silver trade - i talked to him today, he tells me the market has been tight for months. Its is getting tighter. He says he is lied to everyday about how much physical there is.

Nothing has failed if you are referring to turning the screw. i don't want the price to shoot to the Moon - i want to load up more.
The silver market will not blow up this week or next week but paper market days are ticking down. Those on the dark side will lie and lie and lie. They know the jig is about up.

[CollectorNo1]

Lol....well I havnt got a clue about what everyone is saying..paper silver etc...only been collecting for almost 2 years..stacking as much silver that I can afford at the cheapest prices.. to me its all relative...if spot is £18-19 per oz and I'm paying a little over premium..in 5 years which is my target to accumulate as much silver..and gold and the spot prices are higher..premiums are higher.....I can't lose...but it could go the other way..as collectors and stackers in preciousmetals..that's the gamble..as in stocks n shares...they can go up or down..we are all in the same boat when speculating......"FACT"..

 

[Bigmarc]

Paper silver... 

I pay 1.5% per trade to a company that holds it in a vault in their name. I have a paper contract to say it's mine. When I sell sell I have to pay 1.5% again. No vat, no premiums and also no physical purchase. It's not ideal and goes against why I stack in the first place but when a good deal comes up on physical the trade is instant and the money is there. 

As for the comex squeeze, I'm just not one to follow popularity, I enjoy the whole process of working out my own way forward. 

 

[Martlet]

This retail silver squeeze doesnt work, unless the plan is to make money for the dealers.  100,000 buy their 100oz, until the dealers are out of stock They probably dont hold 10m oz collectively anyway so a lot of people wont get their 100oz.  The dealers put in orders to the wholesalers, mints for new stock next week and in the queue for delivery. 

And wait. At some point they'll get their new stock. Or not, who knows. However, the effect on the upstream market is diminished because of those delays and steps between demand and supply. This isnt like a short squeeze on a stock where there is a single market, one source of supply and demand funnelled together.  The "signal" from the demand surge will be filtered out through the dealers, wholesales, mints and finally make through to exchanges to affect futures pricing.

[Coverte]

16 hours ago, Bigmarc said:

As for the comex squeeze, I'm just not one to follow popularity, I enjoy the whole process of working out my own way forward. 

 

 

I agree absolutely, in addition to which concerted action all on one day may, in itself, cause a temporary price spike, which could/will quite possibly fall just as fast.

Also, all bullion dealers have so much advance notice, they can adjust prices / premiums / availability to their circumstances and even raise prices themselves.

A slow and steady price rise is better than massive leaps and soon after similar price falls.

Edited April 29, 2021 by Coverte

[CaptCaveMan]

1 minute ago, Coverte said:

A slow and steady price rise is better than massive leaps and soon after similar price falls.

Unless if there is a temporary hike followed by a fall, a lot of those may then want to offload and you simply buy once it drops 😉

[Coverte]

@CaptCaveMan

Shhhhhh, I wasn't going to mention that part;

but yes, of course I am hoping for a drop during May when their actions have minimal effect in taking silver into 3 figures within a few days ..... 🤣

[CollectorNo1]

So...anyone got a prediction of the Silver spot price at the end of the year???

[Coverte]

I usually think in USD, as I bought a lot of USD in 2007 at almost 2:1, and am now getting out of the balance left - some via Silver & Gold.

I'd be happy with a slow climb to the $45 area, but hoping North of $50 - so about £35- £38 as an average would suit me fine.

[DaKine]

Looks like a massive grab for money by the online dealers. Silver is not that scarce, just at the price we see. People are sitting on LARGE amounts of it. There is so much hype on it, that it is simply ridiculous IMO.

I've gotten to the point where I really don't care about it at all, and only if the design is right will I buy any.  All this "excitement" really has an element of fake to me, just not that big a deal. Will watch this market with only marginal interest....

[Nowhereman]

Dude, I try and buy as much silver as I can every day.

[CollectorNo1]

Hi

I'm the same..buy as much as my budget will allow.....the only thing that comes out of these so called "Silver squeeze " 2nd one in a few months..is the spot price might go up..but so do the premiums, so really no one wins..apart from the bullion dealers which get special services from the mint when they bulk buy!!!@ but who pays...us..🙄🙄🙄🙄🙄