Silver Monitoring Thread £ (GBP) only.

[sovereignsteve]

3 hours ago, vand said:

Gold & silver have run into obvious long term resistance at these current levels. There's a chance they might still break through, but momentum is now fading and each session that it doesn't manage increases the likelihood that they'll ultimately fail this test and get sold off again. Too many are short term optimistic, so I personally would not be surprised to see the selloff scenario play out. Accordingly I have unwound most of my trading positions.

 

I would agree but I thought you didn't believe it were possible to pick high and lows?😉

[vand]

10 minutes ago, sovereignsteve said:

I would agree but I thought you didn't believe it were possible to pick high and lows?😉

I’m always up for a challenge.

but I trade around my core holdings and have learnt to not risk any more than I’m very comfortable losing (wasn’t always that way). Results have been mixed, accordingly.

[flim]

2 hours ago, sovereignsteve said:

I would agree but I thought you didn't believe it were possible to pick high and lows?😉

if you can access to the trades summary pages, there is nothing much to talk about for the volume that transacted at the top or bottom

most transactions are done in between the top and bottom, 98% of them

[Stargazer]

If I had that kind of money to invest, I would not hesitate for a moment to put them into silver.

It is so ridiculous undervalued that it MUST go up ... a lot.

But if it is a short time investment, it is impossible to tell what happens.

Personally I would go all in on silver (and convert to gold when the ratio is better)

.... But in the end we are all guessing 🙂

[Rocky]

I saw that the spot price is hovering over $16 today... start of the much anticipated mega bull run? 

Just want to know people’s thoughts.

[Oldun]

No, not yet.

[vand]

In USD terms it is currently showing good strength holding above the 200dma, which is better than it has done in the last couple of years, so that is a change right there.

However, we need to take things one step at a time. Really, I see the last 3 months as nothing more than a bounce off the bottom from the "echo" bear market that ran from mid 2016-late 2018. We need to stay at this levels and then push on higher up to at least $18.50 to take out some of those old peaks before having a go at $21.

I don't think the "mega" bull run starts until silver has at least doubled off its recent bottom. That's when the casual investor starts to notice and is looking to make 20%, while you and I buying in the last few months will already be sitting on 100%. I have been getting involved in some other financial community BBs lately, and I can tell you that PMs and silver are still well hated by nearly all retail investors, who are all still piling into index trackers and expecting to make 10%pa.

[Rocky]

Thanks Oldun

Vand - this makes a lot of sense.

 

[vand]

Also note the relative strength in GDX lately; this may be a clue that we could be in for much better times ahead. 

[vand]

Silver USD has regained $16 on dovish Fed.

[5huggy]

just spotted this - - - - >>>>  https://www.bloomberg.com/news/articles/2019-01-29/silver-use-beyond-jewelry-has-bulls-betting-on-shrinking-supply

[Rocky]

I can feel it coming the bull run... 😁😁

Edited January 31, 2019 by Rocky

[5huggy]

8 hours ago, Rocky said:

I can feel it coming the bull run... 😁😁

MOST APPROPRIATE!! 

[5huggy]

On 04/01/2019 at 10:41, SmallMan61029 said:

looking back at @5huggys post it looks like silver prices are just randomly spiking, not progressing (sorry if I am wrong).

I am hoping that this actually does look the "SUPPRESSORS" are capitulating at last!

METAL	BUY	SELL	CHANGE
Gold	£1,007.25	£1,011.00	£3.25+0.32%
Silver	£12.25	£12.50	£0.25+2.08%
Platinum	£624.75	£628.25	£9.00+1.46%

 

 

 

 

Edited January 31, 2019 by 5huggy
add £ valuations

[vand]

Silver can't cling on to $16.

Wouldn't surprise me if we've just seen a multi-week top in the PMs on last week's FOMC action. 

They've have a good run over the last 4-5 months, and everyone seems mildly optimistic, so smart money would expect the market to give back some of its gains.

Edited February 4, 2019 by vand

[TonyS]

On 09/01/2019 at 18:44, ken said:

So say you had £20 000 to spend, what would you do? 

Buy pharmaceutical shares.

[vand]

21 hours ago, vand said:

Silver can't cling on to $16.

Wouldn't surprise me if we've just seen a multi-week top in the PMs on last week's FOMC action. 

They've have a good run over the last 4-5 months, and everyone seems mildly optimistic, so smart money would expect the market to give back some of its gains.

Too many bulls: https://www.marketwatch.com/story/bullish-gold-investors-now-have-reason-to-worry-2019-02-04?siteid=bigcharts&dist=bigcharts

[vand]

The tide is definitely turning in favour of the precious metals.

SilverGBP has now spent most of the last month well above the 200dma, which hasn't been the case since Q2 2017. 34dma has crossed through the 200dma.

More encouragingly, the whole PM sector has shown good strength even despite a stronger USD in the last couple of weeks, which is setting us up nicely for when the USD next takes a dive.

[Rocky]

Silver crosses the $16mark again 🤩

[5huggy]

 looking good methinks

[vand]

Bulls getting their butts handed to them. 

In reality though.. we may be closer to the end of the current selloff than we are to the start, as spot GBP actually peaked as far back as the 2nd trading day of 2019.

 

Here is a genuine question.. I read a few posts back in Jan from posters who were holding off making a purchase because they couldn't bring themselves to buy after the price had risen and gold have gone north of £1000..  Have those people now deployed that capital now that we are back below £1000 gold? Or is the procrastination still ongoing?

Edited March 4, 2019 by vand

[Wonger]

Buying GBP/USD here at 1.3100, looks to me that we will now start the leg up to 1.3700 and its about to get cheaper to purchase on a pure FX basis. 

[Abyss]

Been a lot of talk about silver prices plummeting but the way I am interpreting the charts (Silver USD) once the bears have exhausted selling pressure over the next X number weeks if bears failed take silver price below $13.75 level (highlighted yellow on the chart) then next bull wave has the potential breaking the downside channel and we could see silver trading in the $20 price range. Even if silver breaks 13.75 level I don't believe silver can trade at these prices for any sustained time frame. My position remains same a lot of upside potential with limited downside scope.

Sorry added wrong section should been Silver Monitoring Thread $

 

Edited March 5, 2019 by Abyss

[Wonger]

Added to GBP longs here at 1.3200, also added to Silver shorts at $15.42.

[HawkHybrid]

33 minutes ago, Wonger said:

Added to GBP longs here at 1.3200, also added to Silver shorts at $15.42.

 

you do realise gold might not have finished it's 5th wave

targeting $1360 yet?

 

HH