Silver Monitoring Thread £ (GBP) only.

[sovereignsteve]

17 hours ago, Jordie said:

Ah I calculated 79 wasn't far off thanks bro 

79 now

[vand]

We've seen a very decent bounce in spot prices over the last 2 weeks.

Wouldn't surprise me if we gave up some of those gains, such is the up 'n down nature of this phase of the market, but it looks like we've made a nice "higher low" which is all consistent with building a solid base for an eventual move higher. The GSR has also pulled back a bit, though silver still could still have a bit of short term upside in this respect.

Feeling a lot happier that I picked up a bigger than usual order last month.

Edited January 2, 2018 by vand

[matrawr]

Well the fed have kept interest rates on hold earliest possible rate hike would be march if that doesn't happen then would shoot up can't see BOE raising anytime soon if consumer confidence stays on it's course then maybe end of the year or early next? So unless major conflict or recession occurs I don't see a prolonged uptrend for silver (or gold) whilst rates are low people seem to be pouring into the stock market/cryptos. Maybe a deeper longer bear market could be the answer for gold/silverbugs?

[KDave]

Its a mixed picture on the charts from what I have seen. If silver follows gold then there is a good chance for lower silver in the short term as gold is overbought and against resistance, but funnily enough silver is not overbought. Sentiment is also shocking for silver. What can you do but buy more? 

[matrawr]

I don't see a definitive upwards or downwards trend myself oh don't worry I will buy more patience is key....and so is payday

[matrawr]

https://www.investing.com/news/economy-news/after-first-uk-rate-rise-in-a-decade-chances-grow-of-another-in-may-1182746 sooner than I thought! This along with a hawkish view from the Fed not good for commodities.

[HawkHybrid]

1 minute ago, matrawr said:

https://www.investing.com/news/economy-news/after-first-uk-rate-rise-in-a-decade-chances-grow-of-another-in-may-1182746 sooner than I thought! This along with a hawkish view from the Fed not good for commodities.

(I always ask this but)

what happened to the gold price($) when the fed started

it's rate hikes in dec 2015?

 

HH

 

[KDave]

I have heard a few opinions of where we are now and where we are going in regards to paper vs commodities. All of them are the essentially the same except for timeline. Stocks and bonds are somewhere near the top/past the top/approaching the top, and commodities are either at the bottom, about to bottom, or on the way up already (nooooo!). 

The most bearish I have heard for commodities is that we are due another few years of paper assets rising at the expense of commodities before we see the next cycle begin. I see this as 'best case scenario' from a personal point of view, as it will allow me time to rebuild my depleted positions ready for the big gains. The other cases are far too bullish on commodities for my liking.. 

[matrawr]

46 minutes ago, HawkHybrid said:

(I always ask this but)

what happened to the gold price($) when the fed started

it's rate hikes in dec 2015?

 

HH

 

Well there have been times when interest rates and gold price increase simultaneously but I think a double whammy of increases from BOE AND Fed would see lower or depressed gold and silver prices. 

[matrawr]

13 minutes ago, KDave said:

I have heard a few opinions of where we are now and where we are going in regards to paper vs commodities. All of them are the essentially the same except for timeline. Stocks and bonds are somewhere near the top/past the top/approaching the top, and commodities are either at the bottom, about to bottom, or on the way up already (nooooo!). 

The most bearish I have heard for commodities is that we are due another few years of paper assets rising at the expense of commodities before we see the next cycle begin. I see this as 'best case scenario' from a personal point of view, as it will allow me time to rebuild my depleted positions ready for the big gains. The other cases are far too bullish on commodities for my liking.. 

Agreed I need to continue to build my stacking too but I believe that at least until after we leave the EU officially then we'll see what happens.

[KDave]

2 minutes ago, matrawr said:

Agreed I need to continue to build my stacking too but I believe that at least until after we leave the EU officially then we'll see what happens.

Perhaps longer, early to mid 2020's is one view I have taken a shining to for the next cycle. In the mean time there is a good possibility metals will take a big hit should the dollar rally in a meaningful way. Here's hoping 

[matrawr]

I believe that if we struggle after leaving the EU that could throw a spanner in the works where a possible worse case scenario would see a weakened £, possible interest rate cuts but then Carney may not be in charge at that point so who knows. The $ needs to strengthen a bit more for gold/ silver prices to go lower.

[HawkHybrid]

41 minutes ago, matrawr said:

Well there have been times when interest rates and gold price increase simultaneously but I think a double whammy of increases from BOE AND Fed would see lower or depressed gold and silver prices. 

 

gold is traded in dollars. boe raising rates have probably no

effect on this.

 

HH

[KDave]

Yes best case scenario is the £ strengthens alongside the dollar in regards to cheap metal. Carney won't be helping with that though. There are a lot of possibilities with the EU, the worst case scenario is our leaders completely sell us out on trade and commit to large sums of Euros which we will need to pay for with weakening sterling. I still think it far more preferable to have as clean a break as possible and commit no money to the project, as it will soon become apparent the EU needs our weakened £ to keep the lights on. Alas the media are peddling the opposite at the moment which is fine. When everyone positions and expects things to go one way, they usually do the opposite.  

[matrawr]

2 minutes ago, HawkHybrid said:

 

gold is traded in dollars. boe raising rates have probably no

effect on this.

 

HH

Whilst the $ has more relevance to commodities than any other currency the price of gold/silver is also dependant on the overall economy so we shall see

[matrawr]

2 minutes ago, KDave said:

Yes best case scenario is the £ strengthens alongside the dollar in regards to cheap metal. Carney won't be helping with that though. There are a lot of possibilities with the EU, the worst case scenario is our leaders completely sell us out on trade and commit to large sums of Euros which we will need to pay for with weakening sterling. I still think it far more preferable to have as clean a break as possible and commit no money to the project, as it will soon become apparent the EU needs our weakened £ to keep the lights on. Alas the media are peddling the opposite at the moment which is fine. When everyone positions and expects things to go one way, they usually do the opposite.  

That would mean no transition period thus leaving our fate at the hands of the gods well I'd prefer if the US were to go to pot!

[KDave]

No transition would be best case scenario yes, it leaves the world having to get real and trade, negotiated by the appropriate parties, namely each nation that wants our stuff, or wants to sell us stuff, instead of going through fruitless negotiations with politically driven bureaucrats in Brussels hell bent on keeping the 'transition period' a permanent fixture. IMO 

[matrawr]

Keep in mind that our politicians wanted the transition period but the EU seems to be pulling the strings of our government wouldn't surprise me if/when we do completely leave the EU will still be stringing along the Tories/May. I wonder what'll happen when it comes to Trump v the EU!

Edited February 1, 2018 by matrawr

[matrawr]

For those paying attention to spot today could just be the beginning

[swAgger]

love seeing these slides on fridays. Maybe do a small shop over the weekend, then. But usually i end up hanging on until monday just to see if it keeps dipping.

[Bullionbilly]

16 minutes ago, swAgger said:

love seeing these slides on fridays. Maybe do a small shop over the weekend, then. But usually i end up hanging on until monday just to see if it keeps dipping.

 But it goes up right.... 

[swAgger]

12 minutes ago, Bullionbilly said:

 But it goes up right.... 

yes indeedy. Which is mildly annoying so i hold off ordering again. By the wednesday it's still creeping up, and i'm proper annoyed so i ditch it completely. By friday it's dipped back nicely and the cycle starts again. It can be broken by actually making an order during the weekend. But then.... yeah, you know what happens on the monday!

[PansPurse]

8 minutes ago, swAgger said:

yes indeedy. Which is mildly annoying so i hold off ordering again. By the wednesday it's still creeping up, and i'm proper annoyed so i ditch it completely. By friday it's dipped back nicely and the cycle starts again. It can be broken by actually making an order during the weekend. But then.... yeah, you know what happens on the monday!

But... That's brilliant! You've found a system for resisting impulse purchases... Unrelated I may have just picked up another half sovereign 

[Bullionbilly]

11 minutes ago, swAgger said:

yes indeedy. Which is mildly annoying so i hold off ordering again. By the wednesday it's still creeping up, and i'm proper annoyed so i ditch it completely. By friday it's dipped back nicely and the cycle starts again. It can be broken by actually making an order during the weekend. But then.... yeah, you know what happens on the monday!

Pull the trigger... you know itll go up on monday. 

Thats my excuse anyway 

[sixgun]

There has been a lot of paper selling - we see the price fall straight down.

These moves are always initiated and coached by the usual culprits. Who do people think is buying?

Every contract that is sold is bought. Who buys them? The banks handle every single one.

This is what gets forgotten - when the market goes into free fall the banks are buying just behind the sales.

Kinesis will start its pre-sale on Monday.