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Silver Price Watch

Smithys Bullion - FINE GOLD AND SILVER
STKR

STKR

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Lots of selling going on. We're currently at $22.14 USD and dropping. I've maintained a lot of faith in the $21 level being a solid support. Currently, around $21.40 is where the support level is strongest.

I'm wondering if we'll see premiums increase if supply is limited but prices drop. Looking around at the available options to park your $$, Silver is looking great and extremely undervalued by comparison.

I don't think we'll break the $21 level. If we do, I don't think it will be long. I reckon it'll be short and sharp like we saw in March 2020.

What do you think?
 

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Holy crap! ABC Bullion have their own 1oz Eureka round listed as "pre-order", with collection/delivery after 31/07/22.

Pay now and collect in 200 days?!
 

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Silver has had a nice little bump up.

Silver up
AUD/USD down
Bitcoin down

Happy days!
 

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$34 Silver and rising...

It's crazy how quick silver can move!

We are currently at $24.50 USD.

Next major resistance is around $25.50.

Then it's $28. If we break through $30, we could see $50 USD silver in no time...

This year just feels extra exciting. Remember the run from $8-$50 in 2011 took 3 years. I think the 2020 lows was our 2008, except the fundamentals for silver now are much better than they were back then.
 
This is HUGE! ABC Bullion has every silver product listed as "pre-order". All of their bars became unavailable today:

https://www.abcbullion.com.au/store/silver
 

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What's interesting is the last time ABC had all of their products listed as "pre-order" was March 2020. Shortly afterwards they focused on producing 10oz and 1kg bars only.

It raises questions as to WHY. What's causing all this? In 2020, we saw the global markets collapse driving the price down so far that people jumped on the opportunity to buy silver and created a physical shortage of investment grade bullion, exacerbated by the inability to replenish stocks due to the lockdowns and boarder closures.

Why can't they produce their own products? Their 1oz Eureka round went offline months ago. Now all of their bars are offline, too. This will be an interesting development to watch.

I think ABC is becoming the canary in the coal mine in this instance.
 
So, I read a comment from someone who recently contact ABC Bullion. ABC told them they've seen a massive influx of new customers flooding in and are having manufacturing delays with their bars.

Another post was showing Swan Bullion was out of Gold.

Shit is heating up real fast.
 
The trend is definitely UP! Weekly and monthly charts look fantastic for a big run up in price.

BTW - when I see POS, I don't instantly think Price of Silver  ;D
 
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11/5/2022 silver $21.27
after 11 days of red (19 Apr - 3 May 2022)
 
With price inflation occuring everywhere (with real goods and tangible assets), silver is now shinier than ever. The lower the price goes, the harder it will be to contain, the more interest it will bring to this space.

I'm so glad I'm not just finding out about PM's now. I foresee a time in the not-too-distant future where physical Silver becomes largely unobtainable.
 
Silver has broken the $21USD support. If it closes below for the week I can see a significant drop coming. It will be very interesting to what happens to dealer stock and product availability if it does.
 
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