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crazy hippo

Silver Monitoring Thread £ only.

1,887 posts in this topic

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. "

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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!

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As the pound exchange rate suddenly strengthens (general election announced) the sterling silver price takes a dive.

I'm not going to do the maths ... is this expected??

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18 hours ago, sovereignsteve said:

has silver suddenly become everyone's worst enemy?

Nothing of the sort.. it's had a good up up from  sub-£13 which has now exhausted itself, and I suspect that we need to give back a lot of that before the market is ready to move back up.

In USD terms I think its looking likely that it will head back between $17-17.50 in the next 1-2 weeks.

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32 minutes ago, vand said:

Nothing of the sort.. it's had a good up up from  sub-£13 which has now exhausted itself, and I suspect that we need to give back a lot of that before the market is ready to move back up.

In USD terms I think its looking likely that it will head back between $17-17.50 in the next 1-2 weeks.

it's been hacked back much more than gold recently.

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It would be good if the price would correct to sub $17 - I have some cash in my SIPP at the moment which would be very happy in a silver ETF!

I know you can't hold it in your hand but it is alot easier to buy and sell and there is no VAT😀. 

KDave likes this

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Fairly unusually, PMs have been moving in step with the USD lately, so the runup was magnified in GBP terms, and now the sell off is equally magnified!

 

Longer term this should play out well for PMs though, as the USD is now looking in danger of setting new lows.

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Checking my basket at GS as seen the silver drop a little from yesterday. I leave my order in the basket all the time so i can check it when spot goes up are down. I dont know why i bring the stress onto myself to save a few pennys. So, my order in euros dropped 9, but after tranferwise, its £1.50 more expensive than yesterday. Looks like the euro is evening out for us EU buyers. I miss last year when silver was £10 and the euro was 1.40ish. 

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On 24/04/2017 at 16:07, jayboat said:

 I miss last year when silver was £10 and the euro was 1.40ish. 

;) All buyers miss the time when silver was £10-ish.

jayboat likes this

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