Silver price about to plummet

[5huggy]

Large or small - - is always "RELATIVE" to your own budget and /or available funds

[HawkHybrid]

11 minutes ago, silenceissilver said:

I'm certainly not betting against you, I just want to listen to and understand the devil's advocats argument's against buying large amounts of silver as this is what I plan to do later this month.

 

I'm predicting lower prices in gold, $1200-$1240 in dec 2019.

assuming silver follows gold down, maybe consider saving

part of your money to buy then?

 

HH

[silenceissilver]

Just now, HawkHybrid said:

 

I'm predicting lower prices in gold, $1200-$1240 by dec 2019.

assuming silver follows gold down, maybe consider saving

part of your money to buy then?

 

HH

If VAT reduced silver from other countries would still be available, I would rather buy less now and even prices differences out, by spreading this purchase over time but if silver drops in price even a bit more than gold does in your prediction, it would still be cheaper to buy it without full UK VAT. That's the whole point why I want to buy much more than I did ever before in on purchase. Of course we still don't know what kind of Brexit we will have but for a long term stacker with a long term positive outlook, evening out prices shouldn't even make such a big difference. Imagine you'd have bought in the early 2000s at once versus over let's say 2 years - it wouldn't really make a differenc now, would it. But buy buying a lot before Brexit, at least I can avoid some taxation for sure.

[Wonger]

They are perfectly capable of flashing Silver from $7 - $4 in less than one second, if your lucky as a stacker you will not even see it real time, but some may be screen watching, retail trades will not be honoured!    

[HawkHybrid]

11 minutes ago, silenceissilver said:

If VAT reduced silver from other countries would still be available, I would rather buy less now and even prices differences out, by spreading this purchase over time but if silver drops in price even a bit more than gold does in your prediction, it would still be cheaper to buy it without full UK VAT. That's the whole point why I want to buy much more than I did ever before in on purchase. Of course we still don't know what kind of Brexit we will have but for a long term stacker with a long term positive outlook, evening out prices shouldn't even make such a big difference. Imagine you'd have bought in the early 2000s at once versus over let's say 2 years - it wouldn't really make a differenc now, would it. But buy buying a lot before Brexit, at least I can avoid some taxation for sure.

 

If vat is the issue then I vote sovereigns.

buying silver is not the problem. you can always buy silver.

it's selling the silver that's the problem.

currently sovs sell easily at spot +3%. silver is difficult to sell

at spot +20%. imagine how difficult it would be to sell the

same silver at spot +20% + more taxes/profits.

the bottom line is silver needs to be priced where buyers are

willing to pay for it. nobody needs to speculate on silver.

 

HH

[sixgun]

1 minute ago, Wonger said:

They are perfectly capable of flashing Silver from $7 - $4 in less than one second, if your lucky as a stacker you will not even see it real time, but some may be screen watching, retail trades will not be honoured!    

 

So let's have that bet then, i will honour the bet - i will send £100 to Chris Silver to hold.

[HawkHybrid]

1 hour ago, Wonger said:

Its going to $4 and stackers will beg for mercy!

 

5 minutes ago, Wonger said:

Silver from $7 - $4 in less than one second, if your lucky as a stacker you will not even see it real time,

 

which is it?

 

HH

[silenceissilver]

10 minutes ago, HawkHybrid said:

 

If vat is the issue then I vote sovereigns.

buying silver is not the problem. you can always buy silver.

it's selling the silver that's the problem.

currently sovs sell easily at spot +3%. silver is difficult to sell

at spot +20%. imagine how difficult it would be to sell the

same silver at spot +20% + more taxes/profits.

the bottom line is silver needs to be priced where buyers are

willing to pay for it. nobody needs to speculate on silver.

 

HH

I buy sovereigns anyway and I'm considering splitting this particular sum I want to spend , between silver and sovereigns. It would still be a very big silver purchase, at least for me.

 

Edit: However with the sovereigns, I might not buy them all at once, I don't see a huge need for that, the only pro argument is again, in the long term I see gold bullish and in many years time it shouldn't make a difference if I buy a lot at once or spread over let's say two years but I would be secured against a sharp economic downturn as soon as I bought them, so, I'm not sure yet if I will buy a lot of Sovereigns at the same time

[Abyss]

19 minutes ago, Wonger said:

They are perfectly capable of flashing Silver from $7 - $4 in less than one second, if your lucky as a stacker you will not even see it real time, but some may be screen watching, retail trades will not be honoured!    

Silver $4 what do think the price of Gold will be? I would not hesitate to double my gold stack if gold hit $1,000 and if gold trading at $800 double it again and then $600 double it again. So many people who would be happy to convert huge sums of money into physical gold at those prices. I know traders who love to see $14 Silver because they would go long 150 lots (750,000 oz paper silver). Sorry precious metals not a stock that can go to zero or anywhere close to $7. To many individuals both in the paper and physical market that would purchase large quantities silver to prevent prices getting anywhere close to $7.

[sixgun]

@Abyss are you calling Wonger's credibility into question?

[Abyss]

@sixgun I believe @Wonger as much as I believe that one day I will find a golden ticket and meet willy wonger in his chocolate factory and meet his Oompa Loompas.

[sixgun]

An interesting development.

We are seeing central banks on the buy. We are seeing more and more gold being repatriated. Romania is passing legislation with a view to repatriating all her gold.

https://www.seenews.com/news/romanias-ruling-party-drafts-law-to-repatriate-c-banks-gold-reserves-644682

'According to local media reports, some 61 tonnes of BNR's gold reserves are being held at the Bank of England.'

Switzerland is the world's major refining centre. Gold and silver goes into Switzerland from London/US and then is exported to Asia.

These are the figures for 2018 - see the large amount of gold coming from London and going to China

 

 

The data for January 2019 is out. This shows the lowest import and export of gold since 2012.

Effectively no gold left London in January - but it was imported into London.

Looks like London is preparing for Romanian repatriation. Also indicates there isn't the gold in London and the Swiss had to scourer the world for the gold.

If this data repeats in February and March then Houston we have a problem - we are getting nearer the reset when China takes control of the gold market and the COMEX casino is over.

Now what about this bet on silver getting to $4 or even $7 in the next 12 months?

[Caratacus]

Didn't we have a Prime Minister who had the idea of shifting gold from the UK when it was cheap?

[Wonger]

I very much doubt it was expected by the masses in 1983 at $15.10 that Silver would fall to $3.50 by 1993, such is the markets and all it takes to get down to $7 from here is another 10 odd weeks (accounting for rallies) market price and positioning action like we had this week spread over the period it takes and you now have $7, an event driven algo situation will flash it down to $4, retail will not be buyers only forced sellers between $7 and $4 is my prediction.  

 

[Wonger]

11 minutes ago, Caratacus said:

Didn't we have a Prime Minister who had the idea of shifting gold from the UK when it was cheap?

Brown's bottom. 

[Caratacus]

"....All thngs are possible... "  however I guess that the economic position of the world was a little more buoyant post the oil/energy crisis. There was no QE/QT; US was the dominant economy. China/USSR/India/Australasia had fairly neglible economic power (due to currency valuation); and global/US/EU debt was not in the same ballpark (excluding WW2 debt). The situation isn't comparable. But the dollar is more vulnerable now than it has been for more than a century & some are concernd that like the pound its primary place in the global economy may vapourise

[Wonger]

Gold and Silver ETF's and ETN's were introduced to help with the suppression of prices, when its decided by those who created them they are no longer needed for these purposes investors will be strongly encouraged to sell most holdings, this strong encouragement will be via a flash crash from $7 - $4 and those investors will probably never buy into PM's again through the fear of this experience all the while doubting every part of the ensuing rally which will drive up prices to levels the masses could never envisage, this is the time to deploy capital into PM's.

[sixgun]

@Wonger we can say all it takes for anything. All it takes is an outbreak of Spanish flu and a billion people die.

No point taking about flash crashes - the public holding ETF's would be uneffected by flash crashes. You are deflecting and rambling now.

If your data and experience convince you the price of silver will go to $7 in the next 12 months are you willing to make a bet on it?

£100 says silver will not get to $7 in the next 12 months. The GBP to be held by Chris Silver (assuming he is willing) or a trusted third party - say BYB - he could do a video about it.

[sixgun]

13 hours ago, HawkHybrid said:

 

I'm predicting lower prices in gold, $1200-$1240 in dec 2019. assuming silver follows gold down, maybe consider saving part of your money to buy then?

HH

This is a perfectly reasonable prediction unlike some flash in the pan ideas. Personally i don't know where gold will be at the end of the year, other than it won't be under $1000. i hope it is at the level you predict.

i believe the physical market will start to overrun the paper market this year, so my guess would be higher. We can see by the refusal to return Venezuelan gold, the shenanigans with Australian gold that the BoE doesn't have the full complement of gold. Now Romania wants her gold back this is creating bigger problems. Romania has to get permission from the ECB to repatriate her gold. i could imagine the ECB would refuse but it would be another nail in the EU coffin.

The Kinesis currency system (not that again 🤕) starts this month and then is full bore in May. This is one of several drains that are mounting up on physical supply. As i have said before, the gold price can be suppressed, managed, manipulated - whatever you want to call it, for as long as there is physical at something like the paper price - give or take a few $100. To me it is clear the powers that should not be are struggling and their misdeeds will come back to bite them, i predict in the next 12 months.

[Wonger]

Silver is down just over $1, the commercials have only covered 4330 short contracts so far and are still holding 73874 contracts short, if 4330 contracts can shave just over $1 off of Silver, imagine what the other 73874 will do!

[HawkHybrid]

39 minutes ago, Wonger said:

Silver is down just over $1, the commercials have only covered 4330 short contracts so far and are still holding 73874 contracts short, if 4330 contracts can shave just over $1 off of Silver, imagine what the other 78874 will do!

 

does this chart include data for the week just gone

when silver dropped $1?

 

HH

[Wonger]

1 hour ago, HawkHybrid said:

 

does this chart include data for the week just gone

when silver dropped $1?

 

HH

Sorry my mistake, I thought they had added 3 weeks worth, they are still a week behind, its data as at 19th and Ive just noticed on my original first thread post it should read 05/02/2019 and not 25/02/2019, for anyone who does not know the COT data is realised on a Friday for that Tuesday (when the Government is not shut down) 😀

[Gildeon]

18 hours ago, sixgun said:

. Romania has to get permission from the ECB to repatriate her gold. i could imagine the ECB would refuse but it would be another nail in the EU coffin.

Romania isn't in the Euro, so why would they need ECB permission...?

[Alex]

1 hour ago, Gildeon said:

Romania isn't in the Euro, so why would they need ECB permission...?

In 2007, Bulgaria and Romania became EU members.

[Gildeon]

36 minutes ago, Alex said:

In 2007, Bulgaria and Romania became EU members.

I know that but why would they need European Central Bank permission, since they haven't adopted the Euro? Therefore they still have their currency and their central banks are independent. Something similar to UK until now. At least this is my impression.