Looks like something big is brewing in the Physical Silver market. The social media swarm is all over it
Tell us more… where is the discussion?
Twitter just run a search on $silver.
Its the usual sort of twitter info, a small amount of very useful logical posts amongst a sea of garbage but worth a look
There have been conspiracy theories about big institutions manipulating the price of silver for decades, probably mostly the same old story coming back up because of the GME thing
It seems to have decoupled from gold at the moment… go wallstreetbets gang!
Gold flat or negative and silver +5%. That very rarely happens! I’ve watched both markets every day for the last 6 months and gold has had silver in a headlock almost every day. Today silver is bouncing around all on it’s own.
Definitely looks like something is forcing silver upwards against the bankster fix. I wonder how long this dissent can last though. All it takes is one of the fed’s gang members to tap a couple of keystrokes and pretend to offer 100 years of silver production to the market which will cause it to tank back to where they want it to be… $25.
Early days and hard to tell, but there’s worse things than silver to get stuck with. $26.51 as I type, so far so good
Think only way to do some real damage to silver would be for the reddit army to buy where you actually have the ability to ask for physical delivery instead of auto close and that might make a problem, but have 500k peeps taking delivery is another story…
Either these forum warriors are forcing the bullion banks’ weak hands right now or they are being reeled in and about to get taught a lesson in how to manipulate? Looking at the extent of the decoupling from gold it is a real possibility here that they are winning the arm wrestle… unbelievable!!
Forum warriors lol, there is certainly an army of them. At the end of the day its like anything else if enough people buy and hold the price will move up. It depends as you say on what the reaction of the banks is
It’s not easy or cheap to take delivery on a futures contract, there are reasons hardly anyone ever does it
Yeah, helps if you have enough cash to build a facility next to Henry Hub , but only one or two can do that… pretty much all the brokers I have ever used auto roll any commodity if you dont a few hours before expiry. One didn’t and I was close to having enough copper to make a few ornaments a good few years ago and taught me a lesson to roll early or have a broker who auto rolled
The chart is showing the usual sudden sledgehammer hits to the price but instead of that causing everyone to run for the hills the price is just reverse sledgehammering back to where it got hit! Very interesting times…
The GME situation is way too risky for me, but I am quietly confident about this. The downside would be having to hold for a while if it slips back, but with future demand rising I am comfortable with that risk.
Pretty sure Mike Maloney is one of the people I was talking about, who have been predicting an imminent silver short squeeze for like the past 20 years
I wouldn’t listen to him
Mike Maloney is one of my favourite sound money proponents and contrarians. He speaks the truth. His timing? Maybe a decade or two off, but the smart money is always early
It looks like there is a lot of momentum heading into the new week. Currently you can SELL silver for $27.34 on bullionvault when the spot price closed friday at $26.99. That is indicative of a big move upwards in my experience.
LOL, Mike (I own a bullion company) Maloney.
The guy has been trying to pump up the price of PM’s for years, he’s never been right in any of his predictions. He’s the proverbial broken watch.
Gold and silver will hit new heights eventually, but no-one really knows when.
Disclaimer : I own a 5 figure sum of silver and gold, (10% of my portfolio), I hope PM’s go to not only the moon, but carry on heading to Pluto
It is currently over $28 to buy an ounce of allocated silver on bullionvault, over $40 (=£30) to buy an ounce of anything physical on ebay.co.uk, seen various reports on social of physical dealers including APMEX suspending sales due to demand. This is about to blow up tomorrow. $30 going to arrive very soon then no resistance to $50!
Good summary from down under this morning for anyone who hasn’t been following too closely:
For those of us that held physical silver for many years will know the problem of VAT when buying from the UK so buying from Europe was a no brainer.
As Brextit loomed I noticed these euro dealers starting to increase the postage costs in combination with a price rise this started to hit UK buyers and now Brexit has happened its impossible to avoid taxation.
Moreover, we didn’t see a massive increase in the spot price despite all the economic conditions ‘being right’ (in inverted commas) of a recession so you can argue that this is highly manipulated.
Yet it didn’t stop dealers selling with an inflated premium plus VAT and extremely long delivery times. Consequently I sold out of all my physical silver but still made a healthy profit as bought at the low point.