Silver Price Watch
- Thread starter STKR
- Start date
Reference MarketWatch.com $ USD Silver continuous contract
If Silver can continue it's current rate of price progression, 33.41% YTD, I believe that $50 Silver by the end of this year is a real possibility.
I stacked more Silver when the GSR hit 100:1 a short time back. I just need $41/oz to cover the premium on my latest purchased. So it's nearly into profit on that stack.
But if I average my stack ( major portion of my stacking was back early 2020 ) I'm well into profit at this stage.
If Silver can breach $50 then it's clear air above. Yes I do know that if u adjust for inflation the REAL ATH I have heard mention of $250 +
But psychologically the human mind still has the imprint of $50 is Silvers ATH.
I already have an ear to ear grin with Silver at $39 +
I remember buying at $22 AUD and then the price shot up to $27 and I was absolutely devastated buying at $27
Yes, you can. The chart is from TradingView. I set it up the way I trade. I have followed silver for decades not days and my chart strategy is my own.
That chart is a no-brainer! But many have missed the short-term signs. Scale that chart down to hourly and read the candles to make money.
Alor is telling a story here, the 9 and 21 crossovers are significant. What he, she does not see is the hammer that pierced the 9 and then touched the 21 with a significant rebound
FUCK 483 MILLION oz - the post about the Silver Bricks. Weren't they 482 oz. So someone trades 1,000,000 ( 1 MILION ) off those bricks in an hour !
I think the really interesting part is that there was someone ( or multiple traders ) on the other side of that 483 Million oz. They took all that & then went further to keep pushing the price up.
There are some truly committed people into this. Thinking about it, it seems to me that this had to be a planned operation. 483 million oz taken on is serious commitment to making their planned operation succeed.
MY GOD ! I just did some quick numbers but 483 million oz at spot is over $28,000,000,000 BILLION AUD. Someone has really deep pockets & unbelievable commitment
Dunno about the "needs to come up with the physical" part. Most contracts don't stand for delivery, and even the ones that do, some of them accept a cash settlement.
The absolute stacking on with shorts is what I was expecting around this time. It is interesting to see it overwhelmed by buyers. I wonder who made up the most of the other side to that trade? If I were a foreign country looking to do some damage to the US, I'd definitely target the managed markets on the COMEX. Silver would be at the top of my list, too, being such a small and easily influenced market.
I do call into question these short positions and just how much damage can be done from a rising silver price. You'd think if the shorts were rolled over month to month for years, they'd be so far in the red they'd be bleeding $$. It may well be that further shorts from here are just a means to dollar-cost-average into their position, awaiting for an "exit event" where all markets get slammed (like in March of 2020).
I don't think there's enough transparency to really gauge the level of pain being inflicted on the shorts. All I know is their shorting activities will be for nothing when we have a real physical shortage. I still think we're a few years away from that time... But I very much like to see silver reach new ATH in AUD. I definitely wouldn't sell all my silver and be confident it could be bought back at a lower price in the future. Silver doesn't just deserve to be well into the triple digit territory, it needs to be ASAP to sustain consumption.
Lol, that's what I was thinking (who tf is on the other side of that trade?). Even more questionable when the CFTC imposed position limits for speculators, only allowing approved entities (like the commercial banks) to even place large orders. It would have to be an influx of individual speculators or an approved entity with a hedging exemption.FUCK 483 MILLION oz - the post about the Silver Bricks. Weren't they 482 oz. So someone trades 1,000,000 ( 1 MILION ) off those bricks in an hour !
I think the really interesting part is that there was someone ( or multiple traders ) on the other side of that 483 Million oz. They took all that & then went further to keep pushing the price up.
There are some truly committed people into this. Thinking about it, it seems to me that this had to be a planned operation. 483 million oz taken on is serious commitment to making their planned operation succeed.
MY GOD ! I just did some quick numbers but 483 million oz at spot is over $28,000,000,000 BILLION AUD. Someone has really deep pockets & unbelievable commitment
I'm with u 100%
With 6 years of consumption deficit, something has to break. Personally I don't think it's Years & Years away.
Stories/whispers about China scouring the world for Silver concentrate & dory that is not seen or reflected in the markets & Russia making Silver a strategic metal in there reserves. India apparently making huge purchases of Silver.
Something has to give way somewhere. But the timing is the big UNKNOWN !