Silver squeeze

[Spark268]

21 minutes ago, SidS said:

Silver is not rare.

Just think how much there is lying around in antique shops up and down the country, not to mention in jewellers, museums, online auction sites, yard sales, coin shops etc.

I wonder how much silver there actually is versus that of gold; through recent history silver has been used up in a lot of industrial applications and has not been worth enough for it to be used as a store of wealth compared to gold. There may be 8-12 ounces of silver for each oz gold in the ground, but above ground there's likely to be less AND definitely not close to the >64-1 to one ratio as implied by the price.

Besides the ETF, there are no large stockpiles of silver as there is with gold. There's only so much times you can raid your grandmother's candlestick set.

There's no silver shortage or a squeeze on an absolute basis, but yes the supply is restrained (very low stocks at the retail investment level) and strong industrial demand due to the 4th industrial revolution. The supply and demand picture for silver has never looked better. Whether this is is reflected in the price or not is the question; and given that the silver price has not moved much since last summer the price expectation is only higher.

Agreed on Palladium; but platinum is better. It performs the same function, and factories have had enough time to reconfigure.

 

 

 

 

[SidS]

Trust me I'd love it if the silver price did make significant gains and it was hard to acquire!

[HawkHybrid]

On 24/05/2021 at 21:39, Spark268 said:

Typically, the industry does not hoard silver like individuals do, by operating just in time inventories,

 

Quote

There may be 8-12 ounces of silver for each oz gold in the ground, but above ground there's likely to be less AND definitely not close to the >64-1 to one ratio as implied by the price.

Quote

Besides the ETF, there are no large stockpiles of silver as there is with gold. There's only so much times you can raid your grandmother's candlestick set.

 

HH

 

Edited June 9, 2021 by HawkHybrid

[LawrenceChard]

On 04/06/2021 at 21:04, CollectorNo1 said:

Very interesting....I know a bullion dealer who has 300 2021 Britannia's in stock...and the same amount of ASE's!!!! I also see Americans on ebay selling ASE's between $30-38 ....not that I would purchase them  as the postage is high and does make them very expensive plus the import tax and duties from the USA to the UK...just doesn't make any sense buying them..but from what I'm seeing there isn't much of a problem purchasing these bullion coins....of course if you are looking to buy 100 oz's plus..then yes! Might be a problem..but buying 5,10,20 etc...can be easily acquired.....

Regards.

We were offered 5,000 today for June delivery by a major distributor, but they were about £1 each more than our usual cost premium, so we declined. The distributor said no problem they could easily sell them to a US dealer. We prefer not to increase our selling premiums. We did say we would take 10,000 20,000 or more to get the right price, but no deal.

This helps to explain why you can usually get some if you don't mind paying a higher price, but to my mind, it does not make good sense to pay more than necessary when investing.

 

Edited July 5, 2021 by LawrenceChard
typo

[HerefordBullyun]

11 minutes ago, LawrenceChard said:

We were offered 5,000 today for June delivery by a major distributor, but they were about £1 each more than our usual cost premium, so we declined. The distributor said no problem they could easily sell them to a US dealer. We prefer not to increase our selling premiums. We did say we would take 10,000 20,000 or more to get the right price, but no deal.

This helps to explain why you can usually get some if you don't mind paying a higher price, but to my mind, it soes not make good sense to pay more than necessary when investing.

 

nice one lawerence shows you have the customers interest at heart

[sixgun]

1 hour ago, HerefordBullyun said:

nice one lawerence shows you have the customers interest at heart

Or maybe buy low, sell high.

[LawrenceChard]

1 hour ago, HerefordBullyun said:

nice one lawerence shows you have the customers interest at heart

... and we do have 15,000 bought and paid for, which we are awaiting delivery. Without checking, I don't know relevant dates, but our forecast stock balance is healthily positive, but we would have also been happy to acquire more with the aim of covering future sales between now and delivery, all balanced out against a few other key bullion prooducts, in the daily "balancing" act we have been doing since the start of Covid. In "normal" times, it is quite easy, but with most bullion deliveries getting delayed, we probably need a few million pounds extra invested in bullion stock. I checked my back pocket, but there wasn't enough. 🙂

[LawrenceChard]

On 06/06/2021 at 12:45, SidS said:

I'm not doubting that there are supply chain shortages for new material. But nothing suggests to me there's any shortage in the secondary market. I picked up ten MT thalers the other day, no problems at all.

I once picked up a whole mint sack of them!

At 1,000 per sack, that makes a mint bag just over 28Kg, the heaviest mint bags I know of.

[CollectorNo1]

I've probably missed it..but what coins are you talking about??

[SidS]

13 hours ago, CollectorNo1 said:

I've probably missed it..but what coins are you talking about??

Maria Theresa thalers.

[Goldhooked]

On 09/06/2021 at 17:50, SidS said:

Palladium on the other hand seems virtually unobtainable by comparison.

Palladium aka Unobtainium.  Next to Vibranium on the periodic table 😆

[CollectorNo1]

OK,thanks.

Are these worth collecting/stacking? I know them but never really caught my eye...

[TommyTwoShots]

1 hour ago, CollectorNo1 said:

OK,thanks.

Are these worth collecting/stacking? I know them but never really caught my eye...

Depends on the price. They are nice coins.

[Zhorro]

On 11/05/2021 at 10:22, sixgun said:

The SLV claimed it added an impossible amount of silver at the beginning of the silver squeeze.
This is when silverbacks were still in with Wall Street Bets and weren't as aware of the corruption. Then it was realised how much silver the SLV claimed to add - just impossible, so it didn't happen.

Now we see the LBMA made an 'accounting' error - miscounting - adding 3863 tonnes of silver to its claimed inventory it never had.

Funny the amount the SLV claimed to add to its inventory (which the LBMA counts in with its stash) was 3415 tonnes.i just wonder if the SLV just made it up. It added nothing to its inventory. It was just smoke and mirrors.
 

Back in May the LBMA made an "accounting error" that overstated its silver by 3,863 tonnes.  NOW the CME/COMEX have made an "accounting error" of 38,000 tonnes (!) of silver:

 

 

Edited July 30, 2021 by Zhorro
Typo

[Uksilverstackers]

1 hour ago, Zhorro said:

NOW the CME/COMEX have made an "accounting error" of 38,000 tonnes (!) of silver:

38,000 tonnes in 24hrs into a Loomis Vault 😳
 

Of course it couldn’t possibly have had anything to do with this spike down..... Nothing to see here folks.

Edited July 30, 2021 by Uksilverstackers

[GoldStandardPartyUK]

#silverqueeze skeptic here

Question

What's the significance of the timing of the price bounce and this 38000 undercount? 

[CollectorNo1]

And people still think there is know "Manipulation "😃😃😃

[SendYourCoin2Me]

On 09/06/2021 at 18:22, Spark268 said:

I wonder how much silver there actually is versus that of gold; through recent history silver has been used up in a lot of industrial applications and has not been worth enough for it to be used as a store of wealth compared to gold. There may be 8-12 ounces of silver for each oz gold in the ground, but above ground there's likely to be less AND definitely not close to the >64-1 to one ratio as implied by the price.

Besides the ETF, there are no large stockpiles of silver as there is with gold. There's only so much times you can raid your grandmother's candlestick set.

There's no silver shortage or a squeeze on an absolute basis, but yes the supply is restrained (very low stocks at the retail investment level) and strong industrial demand due to the 4th industrial revolution. The supply and demand picture for silver has never looked better. Whether this is is reflected in the price or not is the question; and given that the silver price has not moved much since last summer the price expectation is only higher.

Agreed on Palladium; but platinum is better. It performs the same function, and factories have had enough time to reconfigure.

 

 

 

 

You asked how much silver vs gold?  Visual below courtesy of demonocracy.info

[CollectorNo1]

No one knows....Speculation is the king of uncertainty 😆

[frugalman]

This fascinating topic will do for a good read in the long winter nights.

I remember the buzz of excitement at the time.

Seems the more you buy, the more you help the fiat system.

 

[Stacktastic]

Im unsure if this is an actual squeeze that occurring (only day 2 now), but certainly deleveraging into the mining stocks & this time it could run really high! 
Im hoping that this results in a colossal miner sell off as I can see the main markets having a momentum melt up[ this year - before crashing badly! 
If this occurs im all in on gold stocks. 

I was waiting for a dip to buy some miners & it looks like that aint gonna happen.  
What are our strategies for day trading or swing trading & what stocks are you going to target?

Looking at the UK market that has shot up nicely from the US rally last night, so getting in on one of the miners on open is one plan. 
Hold it into the afternoon. At the end of the day they are all undervalued so bag holding most major miners is a no briner if it goes south. 
What are the main options outside of HOC, FRES, POLY & GDX for UK stocks? Ideally below £3 share price & a mover. 

Fortuna is also not a bad shout too as its horrendously undervalued (ignoring is geo political risk). Also gold exposure. 

I like Comstock due to the share price ($1.61) and levels it can get to, but its possibly a buy and hold stock 
but it has considerable potential downside as its a wall street bets fav. 
it also gets halted (took a few mins to place an order on open!!!) & takes time to buy & sell. 
Having said that I made 19% on that yesterday as i bought near the bottom last week or so. 

I made 6% on GATO with a £400 holding, as I was just testing, but that seems a good one. 
Hecla has always moved very well & has half the share price. 
Obviously First Majestic - that always has amazing momentum & is the clear Fav. 

Would be nice to find a stock that lags behind the main ones (ie first majestic). 
There is always one or two that react later, so makes a great scalping, or day trading vehicle. 

Interesting to see what people are doing. 

@HerefordBullyun

@ZigZag

@HawkHybrid

@JunkBond
@Bullionaire

@ArgentSmith

@Bumble
@sixgun

 

Edited January 20, 2022 by Stacktastic

[HerefordBullyun]

13 minutes ago, Stacktastic said:

Im unsure if this is an actual squeeze that occurring (only day 2 now), but certainly deleveraging into the mining stocks & this time it could run really high! 
Im hoping that this results in a colossal miner sell off as I can see the main markets having a momentum melt up[ this year - before crashing badly! 
If this occurs im all in on gold stocks. 

I was waiting for a dip to buy some miners & it looks like that aint gonna happen.  
What are our strategies for day trading or swing trading & what stocks are you going to target?

Looking at the UK market that has shot up nicely from the US rally last night, so getting in on one of the miners on open is one plan. 
Hold it into the afternoon. At the end of the day they are all undervalued so bag holding most major miners is a no briner if it goes south. 
Fortuna is also not a bad shout too as its horrendously undervalued (ignoring is geo political risk). Also gold exposure. 

I like Comstock due to the share price ($1.61) and levels it can get to, but its possibly a buy and hold stock 
but it has considerable potential downside as its a wall street bets fav. 
it also gets halted (took a few mins to place an order on open!!!) & takes time to buy & sell. 
Having said that I made 19% on that yesterday as i bought near the bottom last week or so. 

I made 6% on GATO with a £400 holding, as I was just testing, but that seems a good one. 
Hecla has always moved very well & has half the share price. 
Obviously First Majestic - that always has amazing momentum & is the clear Fav. 
Would be nice to find a stock that lags behind the main ones (ie first majestic). 
There is always one or two that react later, so makes a great scalping, or day trading vehicle. 

Interesting to see what people are doing. 

@HerefordBullyun

I sold out my silver miners on day trade and pile into UUUU on the dip sold at a profit and re bought the dip on UUUU Im seeing if it cpush another green day on UUUU its a great swing trading uranium miner.

[Stacktastic]

55 minutes ago, HerefordBullyun said:

I sold out my silver miners on day trade and pile into UUUU on the dip sold at a profit and re bought the dip on UUUU Im seeing if it cpush another green day on UUUU its a great swing trading uranium miner.

Not a bad shout that I see Yellow Cake is up today & the other miners largely had a bad day yesterday. 
I think there will be a short term bounce in the markets as its been very over sold recently. 
Possibly starting today after yesterday, but probably Monday.

Sorry to cross posts, but Uranium Royalty is looking good, they have been hammering down on Support 3-4 times now. 
Where you get 10% moves I dont know as the money is flowing into Silver stocks. 

I think people have been waiting for the Fed announcement. 
No idea what happened but it must have been good. 😛 

 

[ArgentSmith]

Stocks, Newmont, Anglo American,BHP, BATS, DEC, NG

 

 

[Stacktastic]

Thats 3000 shares of Petropalovsk just in the nick of time, literally seconds before it started rising. 
I shall dump in the first 10 mins it if it explodes looking at yesterday. 

Bought 50 shares of FRES on the dip also - see how things go - looks promising on US premarket. 

Edited January 20, 2022 by Stacktastic