Silver Monitoring Thread £ (GBP) only.

[kimchiflower]

3 hours ago, Dom said:

Just a lil reminder of where we're headed folks. Keep calm and stack on. History doesn't repeat but it definitely ryhmes!

 

Generational memory of this means German individuals hold more physical investment gold as bars/coins than most other citizens. We've not had anything like this in the UK recently aside from some stealthy inflation/debasement events such as post 1920/47 coins and the switch to decimalisation.

 

I suspect that if I offered a 1oz Brit to a random Brit on the street, they wouldn't even want to pay the face value of £100 and would have no idea of its value.

[ant1882]

£25.31

[HonestMoneyGoldSilver]

1 hour ago, Russell said:

I am still buying as much as I can.   I hear some people are selling thinking this is a blip like usual and it is going back down but as I have said forever and a day Silver is way under valued even at $50 per ounce so I keep adding.

If we enter August (the month, not the playmate) with silver above $30 then it's probable IMHO we will never see the price as low as $30 again. I'm waiting to be proven wrong but I see a major bull market this autumn/winter that won't abate until 2026 at the earliest. If we're above $30 when the bull market really begins (it hasn't begun yet) then IMHO $50 is not outrageous for 2025. By my standards that's immensely bullish so I'm probably wrong but hey, time will tell

[Gruff]

[Dom]

2 hours ago, kimchiflower said:

 

Generational memory of this means German individuals hold more physical investment gold as bars/coins than most other citizens. We've not had anything like this in the UK recently aside from some stealthy inflation/debasement events such as post 1920/47 coins and the switch to decimalisation.

 

I suspect that if I offered a 1oz Brit to a random Brit on the street, they wouldn't even want to pay the face value of £100 and would have no idea of its value.

Yeah it'll probably end up similar to this vid. People are stupid, and that's being kind unfortunately. It's not their fault though, we have been assaulted from all angles for multiple generations, from the education system to the food system and everything inbetween! Count yourself lucky you know what sound money is. 

 

[Thelonerangershorse]

2 hours ago, kimchiflower said:

I suspect that if I offered a 1oz Brit to a random Brit on the street, they wouldn't even want to pay the face value of £100 and would have no idea of its value.

If you'd like to try this experiment, I can suggest a suitable street and time.

[Thelonerangershorse]

12 hours ago, FriedrichVonHayek said:

Over 70,000 ounces of Silver left Bullionvault's Zurich vault a couple of days ago.

No idea if that's a lot in the grand scheme of things. 

It's a little over 2 tons,

[HonestMoneyGoldSilver]

FX could have a greater effect going forward on GBP silver prices than the price of silver itself, which is set in USD. Currently silver in USD is down (-0.59%) while a few seconds (minutes) ago it was flat in GBP (+0.03%)

 

 

The USD has strengthened vs every major currency since late 2021 and obliterated some minor currencies. Every country in the world should be stacking the stink out of precious metals to hedge against this. We know this is one of the main driving factors behind Chinese demand, it's multi-faceted from their POV - hedge currency risk, hedge property market collapse, hedge against falling exports plus building for a BRICS currency. Other countries like Japan should be going ballistic on metals instead of just foreign securities and derivatives (Japan owns 3-5% of UK gilts, around 7-8% of US Treasuries and holds large positions in various US, UK and EU enterprises). The countries with weaker currencies like India have an even stronger incentive to stack metals

It's set up for the world vs the USD. Some US commentators speculate on this regularly, the great de-dollarization. If the world did pursue a policy of stacking metals rather than USD, eventually this would lead to a weakening of the USD as those dollars were repatriated to the US, causing a massive wave of inflation in the US. However if such an event were to occur, the yield on Treasures and the Fed Funds Rate would be hiked to the max, leading to stagflation (high interest, low growth and high unemployment), in an effort to preserve the status of the dollar

Anyway, I was just musing about that to myself, thought I would share

As for silver prices again today, well, as predicted, silver did spike above the recent high of $32.63 and instantly crashed - it hit $32.70 on Asia opening (11pm last night) then dropped fast to oscillate around $32.00 throughout today's session. We need to learn to walk before we can run in the rarefied air above $30

[Petra]

13 hours ago, FriedrichVonHayek said:

Over 70,000 ounces of Silver left Bullionvault's Zurich vault a couple of days ago.

No idea if that's a lot in the grand scheme of things. 

Straight to the airport…..🤔

[bobski]

Current Price

£25.25

Live Change

0.07% £+0.02

Live high £25.27

 

Live low £25.22

[bobski]

[FriedrichVonHayek]

Another solid finish in Shanghai.

Shanghai Silver

30 May 2024 

AM USD 36.08

PM USD 35.46

[FriedrichVonHayek]

It looks like the Bullion Banks can exempt themselves from the 13% VAT in Shanghai.

 

[theman73]

1 hour ago, FriedrichVonHayek said:

It looks like the Bullion Banks can exempt themselves from the 13% VAT in Shanghai.

 

So easy now. We need to become banks.

[Beanyman]

1 hour ago, theman73 said:

So easy now. We need to become banks.

Easy use bitcoin.

[theman73]

44 minutes ago, Beanyman said:

Easy use bitcoin.

I'm Ok with what I have

 

[modofantasma]

50 minutes ago, theman73 said:

I'm Ok with what I have

 

Good return in 3 months 👌🏽

[Roy]

1 hour ago, modofantasma said:

Good return in 3 months 👌🏽

Isn't it? 41 % 😮

Too much, too fast?

[Thelonerangershorse]

Nice to see the price holding strong today, Gold's still not really going anywhere.

[bobski]

Current Price

£24.53

Live Change

0.00% £0.00

Live high £24.53

 

Live low £24.53

CLOSED

[Fishy321]

59 minutes ago, bobski said:

Current Price

£24.53

Live Change

0.00% £0.00

Live high £24.53

 

Live low £24.53

CLOSED

Ahh the silver price on here must be stuck, thought it was strange staying at £25.08 so long 

[bobski]

Just now, Fishy321 said:

Ahh the silver price on here must be stuck, thought it was strange staying at £25.08 so long 

It's the wrong closing price, not stuck. use BBP rather than TSF for an accurate price

[bobski]

Current Price

£24.53

Live Change

0.15% £+0.04

Live high £24.53

 

Live low £24.49

[bobski]

Current Price

£24.29

Live Change

-0.06% £-0.01

Live high £24.31

 

Live low £24.29

[Gruff]