Silver Monitoring Thread £ (GBP) only.

[Jay2]

On 27/07/2017 at 13:23, PolarPanda said:

Looks like the silver price is going back up the last days. 

Yes, it's fully recovered from that 'shock' dollar dip it took, making me think I'll skip my silver order this time around. Looking into gold for weight options, but I'm so new to that market as a UK buyer. Probably stick with Sovereigns until I know better.

[BackyardBullion]

@Jay2 it is all a rollercoaster mate!

Keep buying if it sits with your saving goals and strategy.

As to what to buy, therein lies the fun 

[Jay2]

@BackyardBullion What do you think of the strategy of only buying more, in bulk, when Spot is lower than your last order? Sort of a Turtle vs Hare patient approach to stacking. I'm in no hurry, and I still want to turn much more cash into PMs and British numismatics for savings / enjoyment reasons.

I guess if it stays high for years meaning I never buy another ounce, at least I didn't lose anything on the stack so far

Then again, I most certainly will lose something on the cash 'stack'.   Oh what fun.

[BackyardBullion]

3 minutes ago, Jay2 said:

@BackyardBullion What do you think of the strategy of only buying more, in bulk, when Spot is lower than your last order? Sort of a Turtle vs Hare patient approach to stacking. I'm in no hurry, and I still want to turn much more cash into PMs and British numismatics for savings / enjoyment reasons.

I guess if it stays high for years meaning I never buy another ounce, at least I didn't lose anything on the stack so far

Then again, I most certainly will lose something on the cash 'stack'.   Oh what fun.

I can't tell you how to spend your money, but I have a budget each month to set aside for my pension and a separate budget for my active shorter term PM investments i.e. the coins I buy to flip. 

If you have long term savings goals then buying when spot is lower than your last purchase is perfect, brings your whole average down!

[BackyardBullion]

But if spot is higher than your first order and you are still saving for the long term it is still fine in the long run. 

Waiting for the right prices is almost impossible to do - no-one knows where things will be in the future. USA could nuke north Korea tomorrow and PM's could skyrocket

[SpacedMarine]

On 28/07/2017 at 22:28, BackyardBullion said:

But if spot is higher than your first order and you are still saving for the long term it is still fine in the long run. 

Waiting for the right prices is almost impossible to do - no-one knows where things will be in the future. USA could nuke north Korea tomorrow and PM's could skyrocket

I reckon if that happened the peice of silver would be the last think on your mind.Just saying.?

[PolarPanda]

Nice drop in silver price today. I made some extra orders. That Athenian Owl is each time very nicely priced at GS.be... 

[vand]

Onwards and upwards this morning..

$18/£14 now firmly in the crosshairs.

[oliversw5]

12 hours ago, vand said:

Onwards and upwards this morning..

$18/£14 now firmly in the crosshairs.

What are your opinions on price going forward, do you think it will touch and go back down again?

[vand]

1 hour ago, oliversw5 said:

What are your opinions on price going forward, do you think it will touch and go back down again?

Depends what time frame you mean.

On the short daily cycle the time to buy was 4-6 weeks ago. Now is not the time to be chasing the move. I do expect a daily down cycle soon that could take us back towards $1300 gold. Medium term I expect a move back towards $20 over Q3 which is traditionally a strong time for the PMs.

I do believe that it is a new bull market and therefore the surprises will more likely be on the upside, and it is possible that we will move higher without a meaningful correction.

However the market doesn't care what my opinion is, and it will do what it wants. It is important to have a long term plan that filters out the short term noise. I BUY & HOLD for the long term but I do short term trades also.

[sixgun]

1 hour ago, oliversw5 said:

What are your opinions on price going forward, do you think it will touch and go back down again?

We are at a very significant price level. i expect $18 will become support. There is a lot of demand. The Swiss refineries have a 3 week backlog for 1kg silver bars, they cannot keep up. Demand for ASE at the US Mint has shot up. The issue with both gold and silver is there are many stops not far overhead. A surge say to do with Korean could blow straight through these and we would be looking at a huge short squeeze, even a price reset with gold and silver paper contracts being settled for cash and physical gold $100's higher and silver $10's higher. It is the start of the gold [and silver] buying season in India on 5th September. We saw so big dumps of paper silver by the usual culprits in the last couple of weeks and price just came back even stronger. 

[vand]

I think the chances are quite high that sentiment has peak with Hurricane Irma, and now PMs are due a pullback for a few weeks.  I wouldn't be surprised to see a move back below $1300 gold and $17 silver.

[oliversw5]

I put a long on silver when n Korea dropped the bomb, cashed out 4 days later. Saying that I got lucky and paper trading is not for me, I'll stick with using my account to hedge rather than speculation.

[HawkHybrid]

 

a bit of chart possible anticipation starting at 1:45.

 

HH

[vand]

Traditional EoY slump! 

Has been a pretty disappointing 2017, as every other asset class has gone up while PMs are still scraping the bottom of the barrel.

[sovereignsteve]

momentum for PMs is queuing up in the background

[HawkHybrid]

gold is up yoy. silver is lagging gold?

not all pm's are flat.

 

HH

Edited December 4, 2017 by HawkHybrid

[HawkHybrid]

 

possible bear trap.

(maybe it's a good time to take a punt.)

 

HH

[craig12]

broke through to £11.95

[vand]

Getting cheaper by the day.

[Bullionbilly]

5 minutes ago, vand said:

Getting cheaper by the day.

But is it a seasonal thing or something else ? I was watching something on youtube the other day and he mentioned a (bear trap/ fake low)

[Bullionbilly]

Taken from Sharps Pixley site

[Guest]

How many oz of silver is the equivalent to 1oz gold 

Some reason my browser won't allow me to see?  if anyone can help that'll be great 

[JunkBond]

12 minutes ago, Jordie said:

How many oz of silver is the equivalent to 1oz gold 

Some reason my browser won't allow me to see?  if anyone can help that'll be great 

about 78 oz

[Guest]

1 hour ago, JunkBond said:

about 78 oz

Ah I calculated 79 wasn't far off thanks bro