Silver Prices Hitting the Roof

[Medic!]

It's true the dollar is worthless. . Completely dead!




So please send all yours to me for proper disposal.

 

[Termin8r]

Sounds like coin and bullion dealers are willing to sell gold and silver at current spot+ premium, but are only willing to buy well back of spot.

Refineries are not buying anywhere near spot, so dealers are paying less or not buying at all.

Not that I would sell silver or gold if I had any, but who would want to trade real money for the worthless paper money.

 

[wired]

Sounds like coin and bullion dealers are willing to sell gold and silver at current spot+ premium, but are only willing to buy well back of spot.

Refineries are not buying anywhere near spot, so dealers are paying less or not buying at all.

Not that I would sell silver or gold if I had any, but who would want to trade real money for the worthless paper money.

Depends how long you think this is gonna last. Sell at 5000 re-buy a 2500 that sort of thing.

 

[40nascar]

Old news. The dollar is being dumped en mass as our Treasury and leadership have decided they dont want to participate in the worlds economy and have torn up trade agreements. Reserve has shifted back to Gold and to an extent silver as a currency reserve. We have seen a slice of it so far but real inflation is coming.

Unfortunate but true. There is a small window now to take advantage of the fast runup in metals prices while the general US economy has low current inflation.

 

[Alexx1401]

Federal Reserve notes are a floating currency that is not lawful money according to Article 1, section 10 of our Constitution. Only Gold and Silver are lawful money in the USA. You cannot inflate scarce metals that are mined out of the ground. The Federal Reserve act of 1913 is facially Unconstitutional and should have been thrown out by the Courts, decades ago.

This is another example of what is written means only what some judge says it means. EVERYTHING in our founding was pretty clear. A lot of it is now ignored because some judge said so. We have made this mess by allowing it.

 

[arakboss]

Argentina still wants our dollars.

 

[40nascar]

Sounds like coin and bullion dealers are willing to sell gold and silver at current spot+ premium, but are only willing to buy well back of spot.

Refineries are not buying anywhere near spot, so dealers are paying less or not buying at all.

Not that I would sell silver or gold if I had any, but who would want to trade real money for the worthless paper money.

There is generally about a 10% buy/sell spread in metals. +-5 on each side of the transaction. Not unreasonable considering costs to maintain a brick and mortar store front, insurance,security and other labor. The price run-up still represents a good seller's market taking the spread into consideration. A person holding metals for at least the last two years can double their Federal Reserve notes money and use it for its current purchasing power before inflation or a downturn in the market takes it away.

 

[Alexx1401]

The Federal Reserve act was legislation passed by the US Congress, and signed ( and heavily promoted) by president Woodrow Wilson. He was in cahoots with the international bankers, who loved the idea of fractional reserve banking, which made them rich and the average hourly wage worker a debt slave.

Again everything done by our Gov is done when we allow it. Too many people just don't care as they feel they are fine. A LOT of people are glad to give up rights for the promise of being taken care of

 

[Alexx1401]

Looks like a lot of profit taking is finally happening. Gold and Silver both had a good hit overnight. Sold some silver at just the right time

 

[Mono1]

Yeah, Gold just put in a beautiful Double-Top formation over the past seven days at $4,378.

That should put it to bed for a while.

Wake me in 2026.

 

[Bolt_308]

As my brother would say any time the stock market dips- EVERYTHING IS ON SALE!! Just purchased a 1 kilo bar, which I had been eyeing for the last couple of months. Silver is all about the long game- buy the dip!

 

[Alexx1401]

As my brother would say any time the stock market dips- EVERYTHING IS ON SALE!! Just purchased a 1 kilo bar, which I had been eyeing for the last couple of months. Silver is all about the long game- buy the dip!

Going to have to "dip" a hell of a lot before I buy more. What I have was $22-24 a few years ago. Now if it dips to that again? I will buy some more. At $47 an ounce? Not buying any more.

 

[Cavedweller]

Very interesting article. RTWT.

London faces 150-million-oz silver shortfall amid COMEX drain - Insider

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

 

[Alexx1401]

Very interesting article. RTWT.

London faces 150-million-oz silver shortfall amid COMEX drain - Insider

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

When I try to read stuff like this it often has my eye's glazing over as it often seems to make little sense. Them saying they are moving large amounts of silver across the ocean always seems strange. That seems kind of pricey?

 

[Mono1]

Them saying they are moving large amounts of silver across the ocean always seems strange.

Very perceptive, Alexx. Silver is notorious for import / export created "shortages".

 

[Mono1]

As my brother would say any time the stock market dips- EVERYTHING IS ON SALE!! Just purchased a 1 kilo bar, which I had been eyeing for the last couple of months. Silver is all about the long game- buy the dip!

IMHO, there are going to be some buying opportunities the next few months for people who came late to the Party.

(All of my analysis is from a "technical perspective" btw, meaning "chart patterns", which I have come to have great respect for in the metals space over many years of observation - obviously no guarantees.)

Gold - I believe we are now in the "Flag" or "Pennant" generation phase. This means I doubt gold will fall below $4,000 over the next three months, but if it does, I would be a buyer as there is strong support at the $3,600 to $3,800 area. Ultimately I am expecting 5, 6, or 7K by 2028 latest.

Silver - Being much more volatile than gold, you're going to see wilder swings. Right now, there is a support area at $37, but a stronger one at $33. I kinda don't expect it getting as low as $33, but Silver is volatile. During the next runup in '26 I wouldn't be surprised to see $70 - $80 and ultimately much higher.

Again. Just my 2 cents.

 

[Cavedweller]

That seems kind of pricey?

But apparently profitable at the present time due to the high premiums being paid in London.

 

[Alexx1401]

But apparently profitable at the present time due to the high premiums being paid in London.

Must be if they are willing to ship the stuff over like that, just seems so strange that's it worth the cost to fly it over there. Most of this goes way over my head

 

[Cavedweller]

Must be if they are willing to ship the stuff over like that, just seems so strange that's it worth the cost to fly it over there. Most of this goes way over my head

It's not that mysterious. To put it simply, traders in London have sold more silver on paper than they can deliver (short selling). The buyers are demanding delivery of the physical metal. There is not enough to go around. So in order to deliver on their contracts, they are scrambling to find a supply of metal. New York seems to be it. They have to pay whatever price is necessary to get it, ASAP, in order to fulfill those contracts and avoid bigger losses as the price rises. That very buying causes the price to rise. It's a classic short squeeze.

"This shortage in London has now caused a violent reversal. The premium for spot silver in London has made it highly profitable for banks to take physical metal from the COMEX and ship it back across the Atlantic."

 

[gmerkt]

I sold my gold at $4100 an ounce.

You're smarter than I am.