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01-31-2021, 11:13 AM
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#2491
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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https://www.moneymetals.com/?keycode...MaAoUZEALw_wcB
there are platforms that were trading silver over the weekend with cryptocurrencies that pushed silver over $30 and then the watershed came down forced it back down and now heading back up.
running the silver market is almost impossible, but i have to hand it to these guys for their efforts. there are a lot of things that went on in my life that i thought were impossible that happened though.
anyway with silver, it probably is worth at least 3 times what it sells for now and the short interest is able to keep the price down for long periods of time.
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01-31-2021, 02:32 PM
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#2493
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Registered User
Join Date: May 2011
Posts: 22,639
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01-31-2021, 03:32 PM
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#2494
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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Quote:
Originally Posted by davew
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i had it projected to go to $30 about 2 months ago, so this just finishes up the projection from back then.. usually when it hits the projection it does something else like either trade sideways or go down to something like 26-27, but all bets off with these guys moving markets. i wouldn't want to be short simply because i have an implied value of silver at around $80 on a stupid fundamental basis.
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01-31-2021, 03:47 PM
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#2495
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Quote:
Originally Posted by davew
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Where can you buy and sell SLV on a Sunday?
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01-31-2021, 03:54 PM
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#2496
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Maybe it's time to put some money into SLV/PSLV/SLV calls.
What the ****...it can't go to negative, like Oil...LMAO
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01-31-2021, 04:15 PM
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#2497
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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Quote:
Originally Posted by PaceAdvantage
Where can you buy and sell SLV on a Sunday?
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silver was trading on forex markets, but light amount of contracts. it also was trading on some exchange that only takes cryptocurrency. and it had some volume behind the move. probably the same people that were trading GME and AMC.
i know i am NR. WRONG, but i really don't see anyway they can do this to silver.
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01-31-2021, 06:37 PM
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#2498
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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silver trading at $29 in the Asian markets now.... those markets are very thinly traded, so you have to take that with a grain of salt. the only 2 markets that really mean anything are Comex and the LME. the London metal exchange used to deal with a fixed price, but i think they stopped that a few years ago. the LME is big with options and will give you a better indication than the Asian markets.
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01-31-2021, 10:11 PM
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#2499
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Registered User
Join Date: May 2011
Posts: 22,639
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I got an interesting letter from APMEX tonight ->
To our valued customers,
APMEX Statement On Current Market Conditions:
In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.
Any Precious Metal dealer will take a long position in the futures market to protect against spot price exposure when the markets open. We do this because it is our goal not to take a speculative position on metal. The weekends are unique as we are not able to real-time hedge our position. We took an aggressive position this weekend, but clearly could not have predicted the volumes that were seen. We have partnerships around to world that allowed us to cover these long positions, but only to a point. Once we exceeded our comfort levels, we had little choice but to stop the sale of Silver on our website. This was a difficult decision to make and unprecedented in our history.
As we evaluate the markets, it is difficult to know where Silver's price and demand will go in the coming day and weeks. APMEX is highly capitalized and has more than $150 million in inventory to support demand. We have made strategic decisions to procure additional metal, locking up any metal we can find in the market place. We suspect premiums will rise and rise quickly, as we are seeing significant increases in our costs, when we can even locate the metal. It is also highly likely that we will need an additional day or two to fill orders based on current order counts. The one guarantee we can make to our customers is that you will only be sold metal that is on-site, or we have procured the metal with a firm commitment date from our partners. In markets like this, we feel this is the best approach a retailer can take, as no one can predict product availability.
We want to thank our customers for their patience and understanding during these turbulent times. APMEX prides itself on best in class service and delivering on promises to our customers.
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02-01-2021, 12:38 AM
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#2500
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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just to put things into perspective. i have a friend that is one of the 7 places that buys gold and silver bullion coins from the US mint direct. he in turn sells to coin dealers and other buyers around the world. he deals in every type of physical metal including coins and bars. Apmex coins happens to be one of the 10 dealers that buy direct from the US mint as well.. not as big as my friend, but still extremely BIG. the letter that you got bears plenty of consideration because of who is sending you the letter.
he told me he ran out of the monster boxes of silver and will not be able to fill orders on them until he finds out what and when he is going to get them from the mint. he also says that he ran out of Canadian minted silver coins. he still has some rounds though and expects to be out of them first thing Monday morning.
what he does have are plenty of larger bars that he does not expect to run out of. so what this is saying is that there are an overflow of retail buyers in this market. what could happen is that the slack in the silver buying could be picked up on Monday.. to move that market with a big significance would take about 5000 people like Elon Musk, Mark Cuban, Warren Buffet, George Soros, the Rockefeller family and others like these people that want to transfer their assets into silver. about 20 years ago, Bill Gates was buying plenty of silver. he also invested pretty heavily into a very large silver producer in Pan American Silver (PAAS). all you really need is for the Rothchilds to buy silver and the thing will skyrocket, that family usually just deals in gold though, but if they decided to buy silver there would be plenty of followers.
on a technical side of things with silver, a break above $32 will bring you into a new trading range up to $45. from that point i have no numbers whatsoever because silver has never been above $50. at $50 one could expect some type of pullback and one could speculate on a further price projection at that point of the pullback. keep in mind that nothing is making to much sense these days and solid projections are very tough to make.
there used to be only 7 places that the US mint dealt with, now i see there are 10.
https://catalog.usmint.gov/coin-prog...urchasers.html
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02-01-2021, 12:40 AM
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#2501
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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Last edited by lamboguy; 02-01-2021 at 12:42 AM.
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02-01-2021, 07:33 AM
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#2502
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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silver just hit $30 on the COMEX
MUX gonna run without insider buying!
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02-01-2021, 07:38 AM
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#2503
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Registered User
Join Date: Jul 2003
Location: central fla.
Posts: 4,874
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I went to local pawn shops bought $1 peace dollars....went to flea market and dropped a couple of grand on merc's, mixed pre64's quarters and halves....ALL physical holdings....and much cheaper than kitco/big name players.....yet there are other local dealers wanting as much or more as well.....so CAN always liquidate some if needed...EASY peasy...been buying for 15 years....had to sell some in 2011 to prevent bankruptcy....always good to have an emergency stash....it certainly will stay ahead of the dollar IN VALUE....
So let it rip...I say... 
__________________
got handed a lemon...make lemonade....add sugar or brown sugar or stevia or my personal favorite....miracle fruit....google it...thank me later...
Last edited by sammy the sage; 02-01-2021 at 07:40 AM.
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02-01-2021, 09:31 AM
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#2504
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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This whole "wallstreetbets" is buying silver is probably a false flag operation.
Citadel owns a TON of SLV...I wonder why they might want it to go up? LMAO
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