Silver Price Watch
- Thread starter STKR
- Start date
Reference - MarketWatch.com $ USD Silver continuous contract
The market has been open a few Hrs & Silver is continuing to hold above $39. As I'm posting it's around the $39.20 area 
I was wondering just before the market open if there would be an effort to Hammer Silver back towards the $37 level that it took Silver a few days to eventually break thru. & break thru it DID ! $37 - sailed straight thru & past $38 - & continued thru $39
" IF " Silver can trade above $39 for a few days & finish this week still above $39, that then becomes a strong psychological floor under the price of Silver.
going to be a very interesting week
EDIT: to add, literally 2 minutes after I posted this Silver shot straight to $39.40. A $straight u $0.20 move. Definitely so Action in Silver
The market has been open a few Hrs & Silver is continuing to hold above $39. As I'm posting it's around the $39.20 area I was wondering just before the market open if there would be an effort to Hammer Silver back towards the $37 level that it took Silver a few days to eventually break thru. & break thru it DID ! $37 - sailed straight thru & past $38 - & continued thru $39
" IF " Silver can trade above $39 for a few days & finish this week still above $39, that then becomes a strong psychological floor under the price of Silver.
going to be a very interesting week EDIT: to add, literally 2 minutes after I posted this Silver shot straight to $39.40. A $straight u $0.20 move. Definitely so Action in Silver
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At some point during this upward trend, the POS is likely to pull back and test its previous resistance level for support. This pullback could be around the $38 mark, depending on how far the uptrend extends (as indicated by the yellow arrow). If that level does not hold, the next potential support would be around $35.50, represented by the red line. Just my take on it, only because now we are in no man's land
I can totally go with ur take on Silver. I'm impressed with ur chart construction mate. Gives a very clear perspective Those 2011- 2012 trades a getting pretty old ( 14 yrs ) so very hard to tell how many of those trades are waiting for a sell point
There will be some sellers but I think a few might hang on & look for $50 + to make a profit after all those yrs. " Unknowable "
Those 2011- 2012 trades a getting pretty old ( 14 yrs ) so very hard to tell how many of those trades are waiting for a sell point
And 2008 $50 bought you a whole lot more than 2025 $50 does. There was a point where silver was $19 AUD in 2020. Adjusted for inflation it was like picking up $7 silver. In 2018-2020 I was fortunate enough to have a bit of spare cash looking for a place to put it. Really, I was looking for a place to protect it. I looked at everything and there was no better option than Silver (and Gold).
But even though the price has increased 3x since then, it still feels low. Fuel has doubled, rents have almost doubled, grocery bills have doubled, electricity bills have doubled... And silver has tripled but only from a point where it was actually cheaper to buy an Oz from a bullion dealer than it was for a primary silver mine to extract it out of the ground.
We may be at a point where they either do have aboveground stockpiles available to feed the market but choose not to (that would be a first), or they no longer have the silver to play around with. Sure, we can look at COMEX and LBMA inventories and make calculations based on those, but will they allow themselves to run dry? What happens then? They'll lose their ability and title as arbiters of the Silver markets. I'm not sure of the exact numbers but I'm pretty sure Shanghai and Singapore almost hold as much free-float silver as the COMEX and LBMA combined (excluding SLV). The battle for King Daddy Silver is on.
And the other interesting feature of the recent price increase is that it does absolutely nothing to incentivise mine exploration. We have a long way to go before that happens. It's not a disincentive for manufacturing either. Like anyone would be looking for alternatives until the price is well into the triple digits, and that's if there is an alternative.
As I said previously, if I were to wage war on the markets, Silver would be the easiest and most effective target to do some real damage. I wonder what would actually happen if the COMEX was drained and they no longer had the ability to settle contacts via physical delivery. It doesn't really matter who sets the price when the whole world is scrambling to acquire silver. It would, however, undermine the authority of the COMEX for price discovery. All we'd need to see is a major discrepancy between Shanghai and the COMEX, and the world would bypass the COMEX in favour of a realistic alternative. I've always seen silver as the Achilles heel to the system and I think that's going to be more apparent as the months and years go by.
Mate, that is well written & some good insights in there. I also had some spare cash in 2020 & decided to go for insurance into the future, so brought Gold & Silver. Turns out to have been a very good investment.
I have added some here & there as I could. I'm hoping to never have the need to spend my stacking. I would love to pass it onto my son, but it's good to know it's there as insurance if SHTF & I need options.
The distinct difference between Silver & Gold is that GOLD is held ( most of the Gold mined since forever is still held. Silver on the other hand is constantly consumed ( if its correct that a Tomahawk missile has 15 kg of Silver, when it blows up that's 15 kg GONE ) yes there is recycling but the loss of Silver is continuous & on going.
Just my opinion. The current moves in Silver could be Shanghai looking to take " control " of the Silver market & have them set the pricing of Silver ( & quite possibly, then take on Gold ). From what I have seen ( not sure of the accuracy ) Silver is By Far the most shorted position that the Big Banks are holding. If they lose control of the Silver Price, Bloodbaths is a word being discussed
Just my thoughts. Maybe the Chinese see the Debt crisis in the US as their time to make a move on the world commodities markets. If China ( with Russian support & VAST resources ) has accumulated very Large holdings of Gold/Silver & other commodities, maybe they are making moves ( BRICS ) to challenge the western world for the control of price setting.
This is turning into - make a Drink - grab some snacks/popcorn - & sit back watching the action
Mate, that is well written & some good insights in there. I also had some spare cash in 2020 & decided to go for insurance into the future, so brought Gold & Silver. Turns out to have been a very good investment.
I have added some here & there as I could. I'm hoping to never have the need to spend my stacking. I would love to pass it onto my son, but it's good to know it's there as insurance if SHTF & I need options.
The distinct difference between Silver & Gold is that GOLD is held ( most of the Gold mined since forever is still held. Silver on the other hand is constantly consumed ( if its correct that a Tomahawk missile has 15 kg of Silver, when it blows up that's 15 kg GONE ) yes there is recycling but the loss of Silver is continuous & on going.
Just my opinion. The current moves in Silver could be Shanghai looking to take " control " of the Silver market & have them set the pricing of Silver ( & quite possibly, then take on Gold ). From what I have seen ( not sure of the accuracy ) Silver is By Far the most shorted position that the Big Banks are holding. If they lose control of the Silver Price, Bloodbaths is a word being discussed
Just my thoughts. Maybe the Chinese see the Debt crisis in the US as their time to make a move on the world commodities markets. If China ( with Russian support & VAST resources ) has accumulated very Large holdings of Gold/Silver & other commodities, maybe they are making moves ( BRICS ) to challenge the western world for the control of price setting.
This is turning into - make a Drink - grab some snacks/popcorn - & sit back watching the action
Yes, China and Russia have been known to be patient and to strike while the iron is hot. I think it was Silver Soul who suggested that it may have been BRICS who are on the other side of the trade. That would make a lot of sense in regards to this discussion. I guess we'll never really know and us peasants are just along for the ride
It's like my views on Crypto/Bitcoin. If you can pick the side where the $$ Flow, you'll do well. We could very well be seeing the beginning of this for silver. If I had have known early on that Bitcoin was going to be used to introduce the world to a digital universe under the guise of being private and decentralised, then I may have planted my fiat into that vessel to get ahead, just so I could double down on my PM position. Either way, I feel much better being able to hold my wealth than having it locked away in a digital casino. The same reason I don't get into Crypto is the same reason I don't get into stocks - I have zero faith in the system and expect it to come crashing down at some point. I'd rather the insurance of sleeping well at night than rolling the dice for capital gains. PM's are more than an investment for me, they are a preservation of sanity along with insurance from total annihilation. There's nothing else like it. I would celebrate a rapid decline to $10 for the opportunity to add more to my stack.
I'll never state how much silver I posses. But if we moon shot into triple digits, there may be signs.
To think for every 1,000 Oz's is $1000 increase per $1 of price action. We're seeing $3 days in the green but I know there will be $10-$20 days in the future. Silver will eventually start behaving like gold and Platinum as the GSR corrects itself. I think it's about time silver is seen for the wonder-metal it truly is. No more base-metal undertones. It's time for the second most useful commodity on the planet to REALLY SHINE!
My first 100oz bar was cheaper than that.
Actually, my mistake, it was a 50oz bar.
@Kooka30 this is the first time I've heard Andy speak about evidence (although anecdotal) of silver in a tomahawk cruise missile. As far as he's concerned there's 13-14kgs of confirmed silver in each one. It's actually not that crazy when you think about it. I've never looked up what a tomahawk cruise missile looks like and they're absolutely fkn massive. Essentially an unmanned jet aircraft with a serious business end.
View: https://youtu.be/de0H2zj4ixM?feature=shared
View: https://youtu.be/de0H2zj4ixM?feature=shared
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Yeah, I remember buying a bunch of ABC 1kg bars not far from its peak in 2011 (purchased $38-$45 range), then hung on to them for years. They must of been in a rush to pour those bars, they were very rough compared to the newer ABC bars.
I hope we get there again. I'm waiting to see the "pre-order" signs on the dealer websites. I think the market can only handle a doubling of demand for investment grade bullion before it taps out and supply constraints start to show up. Everytime I get excited about this shit we get hit with a slamming of price and sideways movement for months on end. This is me trying to contain my enthusiasm
I think we're on the cusp of the biggest commodities grab in human history, and guess what, silver is the most undervalued of them all. Oil is done, new technologies will replace the outdated gasoline engines very fast in the next few years.