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What caused the Silver price to hike on Monday


Silvistone

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2 hours ago, Silvistone said:

Looking at bough charts, the price of Silver has gone though the roof on Monday!

What caused this? And it it just a short time spike or will it stay forever?

Thanks

1 hour ago, Norskgeld said:

@LawrenceChard sneezed. 🤧

1 hour ago, CANV said:

someone opened the vault at Credit Suisse. 

54 minutes ago, SilverPlatinum said:

Silver is undervalued, so some investors reacted when they saw positive wall-street numbers. NYSE and NASDAQ were up in the past 2 days.

20 minutes ago, Zeuk said:

A bunch of traders bought more futures than were sold or something of that ilk

This, and similar, could partly explain:

https://www.imf.org/en/Blogs/Articles/2022/10/04/how-illiquid-open-end-funds-can-amplify-shocks-and-destabilize-asset-prices

Or

Woodford-style run on funds worth $41 trillion threaten global stability, warns IMF
Investors' sudden demand for cash could push financial system to collapse

😎

Chards

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Yep, i think a fair few of the big funds will be looking to edge some parts of their portfolios into less unpredictable assets for a while, unless they can trade currency up and down with a priori knowledge anyway.

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3 minutes ago, Silvistone said:

Right, but I was not looking for daily bets on it, I just wanted to put it in and leave it until I have a project to spend it on

But seeing that big hike on Monday has frightened me off

I'd probably use a cash isa for that tbh

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Silver is one of the few assets that didn't get an invite to the everything bubble, downside very limited as there is nothing to unwind.

"It might make sense just to get some in case it catches on"  - Satoshi Nakamoto 2009

"Its going to Zero" - Peter Schiff 2013

"$1,000,000,000 by 2050"  - Fidelity 2024

 

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12 minutes ago, Silvistone said:

Right, but I was not looking for daily bets on it, I just wanted to put it in and leave it until I have a project to spend it on

But seeing that big hike on Monday has frightened me off

I missed that you were talking about buying an ETF rather than just buying silver, not for me to give financial advice but personally i would ensure i diversified beyond one investment if i was saving, make sure i knew if i was investing or trading and have some strategy around that e.g will i use stops/limits or am i going to buy, hold and cost average.  If i was afraid of losing money that i may need in near term i wouldnt put it in something speculative.

That being said i buy silver bars because they look like kit kats and feel good so defo ignore me. 

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2 hours ago, Zeuk said:

A bunch of traders bought more futures than were sold or something of that ilk

If you buys something, someone must sell you it.
So how can more futures be bought than were sold?

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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The Mexican Mint will make available to the public in 2022 a total of 51,698 one-ounce pure silver coins from the Libertad series in two finishes.

In total, 48 thousand 306 will be coins with a satin finish, while another 3 thousand 392 coins with a mirror finish, also called proof, will be put into circulation.  thats why lol

LFTV.  live from the vault.   Spot price is immaterial. its just an illusion.

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8 hours ago, Silvistone said:

What caused this?

I decided to buy some silver. 😁

Remember the forum motto: (BHSL) Buy High, Sell Low.

I hope it goes back down. Even if I was to cost average at this point I'm sure I'm underwater and would come out somewhere in the Mariana trench. But the thing is, I'm not done buying yet!

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6 hours ago, sixgun said:

If you buys something, someone must sell you it.
So how can more futures be bought than were sold?

At a given price, rather than a specific transaction.  The bids/asks couldn’t be settled at that price and buying demand drove the price higher. 

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18 hours ago, Zeuk said:

I'd probably use a cash isa for that tbh

Im using halifax share dealing account with wisdomtree on the london stock exchange for my gold and I will do the same with everything ells unless I hear of a better plan for a platform

 

tbh???

Edited by Silvistone
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20 hours ago, SilverPlatinum said:

Silver is undervalued, so some investors reacted when they saw positive wall-street numbers. NYSE and NASDAQ were up in the past 2 days.

But after the hike on Monday, do you still think it is under valued or has reach is weight in silver?

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21 minutes ago, Silvistone said:

But did gold go into the bubble?

yes somewhat

"It might make sense just to get some in case it catches on"  - Satoshi Nakamoto 2009

"Its going to Zero" - Peter Schiff 2013

"$1,000,000,000 by 2050"  - Fidelity 2024

 

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17 hours ago, gji25 said:

Remember. The goverment has No Control over the Financial Market

It seems to me the opposite, everything seems to rest on Government and Central Bank Policy. Look how UK bonds were bailed out, look at UK housing market 🤷‍♂️

"It might make sense just to get some in case it catches on"  - Satoshi Nakamoto 2009

"Its going to Zero" - Peter Schiff 2013

"$1,000,000,000 by 2050"  - Fidelity 2024

 

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