Silver Monitoring Thread £ (GBP) only.

[Shinus73]

I would guess that currency fluctuations might also be limiting the impact here.

[HelpingHands]

Its still early in the US.  Let's see what happens when the markets open.

[jayboat]

Looks like its gone the other way. The next few weeks will be interesting  

[DRooster]

I see the UK silver price is descending a lot, yet there are no posts on this thread.

Why not?

(I don't keep an eye on the price unless it's under a tenner.)
 

[jayboat]

2 hours ago, DRooster said:

I see the UK silver price is descending a lot, yet there are no posts on this thread.

Why not?

(I don't keep an eye on the price unless it's under a tenner.)
 

Thats what i was thinking as well, pretty big drop and nobodys has has a view one way are other. 

I am thinking about fast forwarding my order a few weeks and taking advantage of the low price. 

 

[HelpingHands]

It wouldn't surprise me if we were back over £14 by the end of the week.

For slightly longer term I would expect higher prices in 2017 due to triggering the EU exit and inflation returning.

The £9 per hour 2020 min wage target will surely be missed but we will see some wage inflation.

[vand]

TBH its all about the USD at the moment. After the uncertainty of the presidential election, the markets now have a clearer idea of America's future path and have released a lot of pent up fear and anxiety. Give it another week or so and the narrative will move on.

[silversky]

6 hours ago, vand said:

TBH its all about the USD at the moment. After the uncertainty of the presidential election, the markets now have a clearer idea of America's future path and have released a lot of pent up fear and anxiety. Give it another week or so and the narrative will move on.

I think you're right vand.  It's all about the USD and where that heads.  Where that leaves us with the price in pounds is anyone's guess.  Just a hunch but I feel that the price of PM's is heavily oversold in USD and even quite a bit in pounds.  Interestingly, everyone thought that a Trump win would propel PM's higher but after gold's rejection of its breakout to the high side the opposite narrative appears to be in play just now.  Maybe over the next few days a short term bounce is on the cards but I expect it to falter again and build a base.  I reckon PM's will end up roughly this price in 2-3 months after building a base at this or even slightly higher levels.  That's just from the failed breakout to the high side which is a powerful signal.  That time frame to build a base would tie in with DT taking office in mid January leaving a potential breakout either up or down from the consolidation that I reckon is now underway.  The Trump PM bullish psychology has certainly taken a beating but I did read somewhere that there was a truly enormous sell order inserted on gold after the unexpected result.  Apparently so large that it would likely be the actions of a central bank.  Who knows whether or not that is true.  The previous narrative of Trump being good for PM's is certainly being tested right now. Interesting times. 

[TheWhiteStuff]

I just sold some silver on eBay. I sold two identical items and got more for it today than i did last month. Even with the drop in silver price.

I know the fed has been talking about it for a while but i am hopeful for this supposed December rate hike. Assuming we have another drop i will re invest it then.

I can't see the being a second rate hike because the world economy is going to get messy before that comes about. At which point they will revert to avoid recession and prices will rocket.

British economy tends to do well towards Christmas so hopefully the pound will go up for a short while as well. Making for better buying power. All just temporary before brexit of course.

[Stu]

Sub £13 by markets closed this weekend?

[Danny-boy]

Sub £13 by markets closed this weekend?

I reckon so mate.

Sub £13 by markets closed this weekend?

I reckon so mate.

[Bullionbilly]

Whats that equate to in €'s ?  I just ordered ordered from gs.be @ €17.98 . So may look to order again if it drops to €17 ish. That will bring my average down nicely.

[Bullionbilly]

€17.88 just now for 1oz kangaroo.

[jayboat]

Prices are pretty good now, i always seem to hit a sweet spot when i have enough saved up to place an order. I averaged around £18.50 per oz 

[Bullionbilly]

Prices steadily dropping on gs.be last week or so.

[vand]

Whisper it quietly, but gold/silver are actually having a GOOD day!

[sovereignsteve]

19 minutes ago, vand said:

Whisper it quietly, but gold/silver are actually having a GOOD day!

It'll be back down again tomorrow!

[BackyardBullion]

1 hour ago, sovereignsteve said:

It'll be back down again tomorrow!

most likely but it makes me happy that I pulled the trigger the other day before the +60/oz rise in prices :-)

[vand]

Silver is moving up very nicely in the last week or so, alongside the miners.. it is only really gold that is lagging the whole PM complex.

GSR has fallen to 67. Once gold joins in the party I expect to see some explosive moves and the GSR moving below 60.

[silversky]

Looks like a change of plan for PM complex after the fed.  3 rises not 2 seems to have spooked the market.  Tbonds taken a big hit too.  Might be some time before a recovery in confidence in PM.  The mood has certainly changed since the middle of the year and bulls v bears are at extreme lows.  It seems to be back to vicious bear again for gold which probably means its time for a bounce soon though lol.  I see the Chinese price differential hit $60 at some point yesterday and $2 for silver.  Lots of paper trading this down so interesting to see how low the physical market will go.

[Danny-boy]

Silver is moving up very nicely in the last week or so

Did you have to say that? [emoji1]

Silver is moving up very nicely in the last week or so

Did you have to say that? [emoji1]

[silversky]

A while since anyone has commented here.  What a brutal bear silver has been in.  Seems like a descent to below last years low is on the cards.  Not sure myself.  Will Trump succeed in inflating the market through infrastructure spending?  Who knows.  But either way it still wont solve the financial debt issues and so silver is super cheap again IMO. Not a recommendation to buy... hehehe but I think we are nearly at the bottom.  Only because sentiment is so anti PM's.

[Kman]

Great time to buy 

[HawkHybrid]

if last years rate hike movement hold true again then

now would be a good time to buy.

 

HH

[NezBomB007]

Silvers started to climb again... reckon we've seen the lowest for the next 6 months or so...?!?


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