Silver Monitoring Thread £ (GBP) only.

[motorbikez]

11.24, just took a 14p beating....  whhhyyy? any ideas?

 

Could be to do with options expiry,bullion banks take the price down to kill the call options.My guess if this is the case,precious metals specifically gold and silver will rally on mon and tues,

[crazy hippo]

silver and gold are getting slapped around like a submissive husband. 11.18

[silversword]

That is two pretty sharp drops in rapid succession. I already felt quite good catching the previous low this week, and typically, this new plunge would happen after I've already pretty much spent my budget! Every time the price drops like this I feel I need to take advantage of it. 

[crazy hippo]

How low will it go before midnight. 

 

11.02

 

anyone else care to play

[Danny-boy]

Think it's 10:30pm or 11pm.

I say 10.98

[garthy]

Some serious money went into mining stocks at the end of play today, this usually means there's a lot of belief that PM's will bounce back Monday.

[crazy hippo]

hhhmmmmm very interesting, 

looks like silver is getting back on its knees, damn i love this stuff....

[StackemHigh]

lol, 11.52. 

 

i think it will rise maybe 30p and then get smacked real hard down to 11 dead.... May-Aug seem to be bitch-slap season for silver.

that little fall off the cliff seems to be in line with summertime falls...

 

Could the latest releases be to blame? Most mints will be bulk buying at a cheaper price over the summer. Then with the releases of the new lunars, perth mints, brits and the like the silver price goes more retail more profit

 

A short study of when new series start and when the second in the series is released could reveal some stratigies mints could be using.

 

Starting a new series mid-way through the year to attract buyers (SWCrocs) then the second is around november so i've got the first one must get the second.

 

Could summer buying reduce the £ per oz average of your stack / collection.

[silversword]

I feel like being contrary and saying it could hold around 11.13

[HelpingHands]

We still haven't hit the dollar low of ~ $18.53 around the 27th of June 2013

Edited May 30, 2014 by Helping Hands

[garthy]

We still haven't hit the dollar low of ~ $18.53 around the 27th of June 2013

True but then we saw a spike down then straight back up, almost as if there were a huge amounts of sell orders then a load of buys straight after, actually since then all the buy orders have been set up at $19, we've been consistently in the 18's for the last 2 days now, seems like their strategy has changed.

[silversword]

So, session closed with silver at £11.22 (or $18.81). God only knows what it will do next week. Gold also very reasonable at £746.21 ($1251.30). 

[HelpingHands]

If you watch the BrotherJohnF videos you will know he's been following the trend line. Any move up to even $20 breaks the line. Soon it could be any move to $19. Should it break above, then what?

[HighlandTiger]

I gave up watching that video after a few minutes when he was harping on about retail sales falling in shops and stores. With not a single mention of the huge increase in online shopping which is roughly year on year growing by 20% and more. People are changing shopping patterns that is all.

 

Just look at the rise in Ebay. In 1999 they made $191.4m, in 2013 they made $12.09 BILLION.

 

I never put much stock in these amateur financial "experts". If they really knew what was going on they would clean up in the markets and be billionaires by now. . 

[HelpingHands]

This guy likes a good scribble on the charts.

Edited May 31, 2014 by Helping Hands

[HighlandTiger]

Ah yes, lets use the naturally occurring Fibonacci sequence into a price market that is artificially manipulated by the powers that be. That's the problem with statistics, you can create anything you want. With the same figures, you can easily make a case for the prices to still fall further and at the same time to explode upwards to unseen levels.

 

Personally I would like the next 14 years of prices at rock bottom, and then the fifteenth year at record highs of over £100 an oz. That should make me a millionaire by the time I retire.     

[Shamatti]

Ah yes, lets use the naturally occurring Fibonacci sequence into a price market that is artificially manipulated by the powers that be. That's the problem with statistics, you can create anything you want. With the same figures, you can easily make a case for the prices to still fall further and at the same time to explode upwards to unseen levels.

 

Personally I would like the next 14 years of prices at rock bottom, and then the fifteenth year at record highs of over £100 an oz. That should make me a millionaire by the time I retire.     

 

I thought the same once!

 

Then I thought..... The financial climate which would bring about £100 plus silver are likely to make the £ or $ piss week! So a million pounds then will be worth like 70p!!! LOL

[garthy]

As silver is most definitely not a free market it's pretty much impossible to make a call, as it's stayed below $19 now next week it could go lower, a lot of traders would've had buy orders (piggyback trades) set up at $19 dollars because that's what the manipulators were doing, now it's anyones guess but in the last two days we definitely broke a cycle.

In my mind there's 4 things that will send silver higher long term....

1. The people at the comex get bored and walk away from their massive paper contract money making scheme, unlikely.

2. The regulators actually do their job and shut down the comex, seems to me they're making money off this scam too, again unlikely.

3. The mines can't meet demand at these prices and many go under meaning the physical silver doesn't turn up to the right places, meaning there will be a disconnect between the paper and physical price, very possible.

4. A stock market crash, then all the money will need to find a home, who in their right mint would deposit their money into the banks after what happened in 2008 and the recent bail in laws being written up? No, money would flood into physical precious metals, the only safe place to be, demand would be huge and prices would surge, in my mind this will happen.

Without 3 and 4 the comex can do what ever they like, silver and gold is in their hands, so yes prices could fall further in the short term, but never lose faith we are accumulating PM's at a great time.

[Danny-boy]

So, what happens Monday morning?

[garthy]

So, what happens Monday morning?

If I had to bet my life on it I'd say up 2 or 3%, but i wouldn't be surprised to see it drop a touch further, I reckon if it does go up it'll go up quite a bit though.

How about you?

[thesoundman]

This will probably not go down to well, but I think the price will drop down to £6.00 ish (as in 2007 before the crash) an oz and slowly rise from there.

 

10-15 years time when the next crash happens when everyones forgotten about 2008 the price will again go through the roof.

[Danny-boy]

An interesting theory IHY.

Personally, I think we are at lows now, but I thought the same at £15.

I don't know what it will do Monday, but I reckon it will be lower next Friday than it is now.

[HighlandTiger]

This will probably not go down to well, but I think the price will drop down to £6.00 ish (as in 2007 before the crash) an oz and slowly rise from there.

 

10-15 years time when the next crash happens when everyones forgotten about 2008 the price will again go through the roof.

 

  I'll be more than happy if it drops to £6, As long as it rises to silly prices by 2030. 

[garthy]

I reckon we're around bottom here as well, the mines around the world pull silver out the ground at around $17 an oz, going down to ihateyou's levels would put them all out of business meaning a major shortage around the world, I'm sure a lot of them would rather not be selling at these prices but have to to keep their clients for when it turns around, I've always thought the mines should set the prices not the comex and the London fix. This can't go on much longer....

[Danny-boy]

I'll be more than happy if it drops to £6, As long as it rises to silly prices by 2030.

Same here.

I have until 2045 until I need the silly prices.

If I had a time machine, I'd love to skip forward to 2050 and pick up a silver & gold chart for the past 35 years. I'd also pick up a currency chart.

I often wonder what it would look like.