Silver Monitoring Thread £ (GBP) only.

[RisinSun]

Alot of things may be coming next year that will potentially lower the price of PMs. Although Janet usually lies about the amount of rate hikes that will take place, she foresees 3 rate hikes instead of 2 = positive for USD, negative for safe haven investments. Furthermore, markets are expecting hard brexit and have adjusted to it, it cannot get worse for GBP, meaning GBP should slowly climb after article 50 activates. 

[Scuzzle]

32 minutes ago, RisinSun said:

Alot of things may be coming next year that will potentially lower the price of PMs. Although Janet usually lies about the amount of rate hikes that will take place, she foresees 3 rate hikes instead of 2 = positive for USD, negative for safe haven investments. Furthermore, markets are expecting hard brexit and have adjusted to it, it cannot get worse for GBP, meaning GBP should slowly climb after article 50 activates. 

The feds word is good for nothing, last year they promised 4 and delivered 1 (which was not really one) and this year might be the exact same as last year as bonds are repositioned at the start of the new year for tax purposes so we still might see the same as last year but we won't know until Jan 2nd.

[sovereignsteve]

Even if you discount political games and meddling. the Fed is run by economists and when have you ever known an economist get any forecast right?

It's one of life's great mysteries to me why anyone puts any faith in these people, their "science" is a total sham.

I can understand their use to politicians; someone to blame when things invariably go wrong, but why people in general swallow their "snake oil" cures is amazing.

[DRooster]

Going up ...

It never approached the bargain prices of last July
 

[vand]

£14.80 now.

Just about back to the election night level.

I think there's room for silver to run up another £1-2/oz very quickly, as we have not seen it outperform gold yet as it normally does when prices get a little carried away, and miners still have a lot of upside potential.

[jayboat]

I have been looking to place a decent order for the last 3 weeks and the price just keeps going up.

Downside is i get a little less for my money, plus side is as each week goes by the silver pot goes up  I have decided that when the steam boat mickey coin is released, im placing my order and thats that. I have a feeling spot gonna shoot a little more after these brexit talks/votes/whatever later this month.

 

[vand]

Just typical we got a 2% smashdown moments after I posted that, lol.

As it happens, maybe some caution is warranted here.. the divergence with miners may be signalling that there is another selloff imminent. 

[Stu]

A

proaching £15 per Oz folks.

[vand]

12 hours ago, Stu said:

A

proaching £15 per Oz folks.

Indeed.. looking back at the charts, Silver in GBP was only higher than the current price for about 42 trading days all of last year.

A lot of that is due to ongoing GBP weakness, but silver is doing very everywhere well considering how much strength the USD is showing. This time last year the GSR was hitting 83:1, and today it has just dipped to 67:1, so silver has also gained 23% against gold in the last year.

 

[jayboat]

so........ £14.49 now. It was around £14.98 when i was to work at 5am. 

[Danny-boy]

Big drop for a Thursday!!!

[JSILVER]

I wonder what caused it, seemed pretty sudden.

[Scuzzle]

$2 Billion's worth of paper contracts apparently to get that 50p downward move.

[vand]

It's all about the USD, really.. which is showing some impressive strength at the moment; it's all part of the "risk on" market narrative that we are currently in. 

As GBP is weaker against the dollar, so the paper market smackdown is lessened.. gold still above £1000, and silver holding firm in the mid-£14s.

Although it's quite exciting to see the price moving back up, if I put on my stacker hat on I have to say that I won't be disappointed if silver stays under the radar for a little longer. 

 

I have to say that the performance of PMs in general has been very encouraging given how the USD has performed in the last 12-18 months, as this is a major headwind for all metals and commodities.. I think that once it is clear that the USD has finally rolled over and the next dollar bear market begins then it will really signal the start of the major part of the PM bull market.

[jayboat]

I think the Fed had pretty much confirmed that interest rates in the states were going to rise in the next 2-3 weeks. This normally means a drop in PM's are vise versa when interest rates go down. I think so anyway.

I got my order in last night, 30 oz at an avg inc shipping of £19.57. Deffo my most expensive avg for a goldsilver order but 1/2 oz lunars, pandas, tailed eagles, brits, koalas, queens beast and the new owl ones. Little pissed kooks went out of stock around dinner tea but i got a few panda trays for kooks and koalas to ease the pain. My next order will be cheaper per oz  

[mondy41]

Not a bargain by any means - similar price to what has been sold on Ebay lately - Arshi had 100g bars for sale on here recently and they went for I believe £57.50/€66.75

[jayboat]

So................that was quick

[SilvergunSuperman]

[vand]

It's looking more and more like the USD has rolled over, as some important support levels have been taken out overnight.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=dxy&insttype=&freq=&show=

 

 

[vand]

Gold & Silver making significant moves to the upside today..

[Paul]

2 minutes ago, vand said:

Gold & Silver making significant moves to the upside today..

probably the Trump shennanigans going on in the middle east making headlines around the world 

[Scuzzle]

It's all kicking off now, apparently Phillipine President Duerte has ordered his people to occupy Chinas man made islands.

[vand]

well there are always geopolitical reasons behinds price moves.. some make the headlines we read about.. the majority do not, but that doesn't mean that the market isn't continally assimilating the information into the price.

FWIW I'm a firm believe that price action tends to lead and then creates the headlines, not vice versa. PMs have been rising because of escalating factors, some of which are now making the news.

[Paul]

From BBP's email today 

"Gold jumps 1.3% overnight after US airstrikes in Syria

The gold price has jumped 1.3% (£+13.00/oz t) after US President Donald Trump gave instruction to launch a missile attack on military targets in Syria. The overnight surge means that gold has increased by 2.05% (£+20.43/oz t) in the last seven days. 

The attack, in response to chemical attacks on Syrian civilians believed to be carried out by President Assad, marks a change in US foreign policy towards the Syrian civil war.

Throughout his election campaign, Trump indicated that warmer relationships between the USA and Russia would be a priority during his tenure. However, missile strikes on one of Russia’s allies has put this in doubt with Dmitry Peskov, spokesman to Vladimir Putin, condemning the attack. Russia has suspended its air safety agreement with the USA in response. 

Investors will watch the situation in the Middle East closely over the coming weeks, with the conflict’s potential to escalate seemingly higher than ever before. 

Similarly, the outcome of Trump’s meeting with Chinese President Xi Jinping today could have an effect on financial markets. Investors will be interested to see if Trump maintains his hostility towards China, having accused them of currency manipulation and of ‘raping’ the American economy. "

[JSILVER]

Silver seems to be on the move up again. I have the urge for a purchase of silver but it's going up again closer to £15 an ounce. Good for my stack but bad for what I want to buy at the moment. I suppose we can't have it all, a crystal ball would be nice!