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Tightness in the physical gold market is now making it's way to the silver market as well. I expect silver to be catching up with gold very soon.

 

Ted Butler on King World News talks about the situation building.

 

http://kingworldnews.com/kingworldnews/Bro...als_Market.html

 

Got Silver?

I think this is the most important thing which has been controlling the price in silver recently, the cartel. Hopefully they have now backed them selves into a corner on silver as well as gold.

 

 

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You may be right Pixel8r, the big test comes at $18 though - we will see then if silver follows gold in an upwards direction

 

 

bye bye $18 - smashed straight through it!

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Anyone think that these rapid moves indicate that we are just starting to whiff the 'end game' with the paper/ETF rackets? I think silver will break first.

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Anyone think that these rapid moves indicate that we are just starting to whiff the 'end game' with the paper/ETF rackets? I think silver will break first.

 

Just thinking that too... The silver shorts must surely be getting a bit twitchy.

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I am looking for a close of 18.05 for silver, and then things will get exciting.

 

Next target $21.35

 

 

:lol::lol::lol:

 

Only seems like an hour ago I was targeting $18.05

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Silver doing nicely today. IMO, the USD silver 5 year chart looks like silver is still correcting from its last move to $21, just as gold did at $1000. The next move in silver will be to $30

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Hi GF; love those scatter charts! One question, do you think we might be seeing some kind of pattern where gold drags silver up along a tight curve as seemed to happen in early 2004 ? - then silver kind of overtakes gold?

Yes, I think this could happen, because some hedge fund sooner or later will try to break the shorts' back. It could be a very bumpy ride though. People like Sinclair have announced they will sell silver if gold reaches $1,220 and silver still only be in the lower $20s or below. But I don't think the big money will be able to resist the best short squeeze of the century. :)

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The EUR and GBP charts of silver display an inverted head and shoulders analagous to the USD gold one.

 

I wonder if these will follow through in the same way. GBP silver is still slightly below its March '08 all-time high while EUR silver recently broke its old March '08 high.

 

If they do blast off from an inverted H&S pattern it could be pretty spectacular.

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Did anyone buy any English Roses? If so what are they like? Still awaiting confirmation of order...but in the meantime I managed to secure a mint roll of Kennedy '64's, some old Morgan dollars and other bits and bobs just for ehem, emergencies...

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Cheaper to buy silver four months in the future than it is with the spot price now!!!!!

 

Got Gold Report: COMEX commercial shorts in retreat for silver

 

Backwardation in both gold and silver again

 

Just as we saw two weeks ago in the last full Got Gold Report, both gold and silver futures ended the week in backwardation, where the cash or spot price was higher than the front active contracts. In the case of gold, cash gold closed at $1,119.20, which is $2.50 above the December contract as shown in the table below courtesy of Barcharts.com. Notice also that the cash price finished higher than the February contract by more than $1 and was just a whisker below April.

 

Note that silver futures are also in backwardation, which is rare and unusual in the metals futures markets. Backwardation suggests that demand for physical metal is immediate and material. Cash silver finished the week higher than the December and March contracts. We are witnessing the early stages of metal scarcity or at least the immediate perception of it. Actual scarcity will almost certainly follow – if the world holds it together. The only question is when. The irony is that long-time veteran metals traders scarcely believe it – yet.

 

As we have said previously, while backwardation by itself does not guarantee that the metals will advance in price, most analysts and traders view backwardation as a much more bullish than bearish condition. All else being equal, both gold and silver should, repeat should, remain well bid on most any dip in the near term, especially given interesting and unusual developments in the commercial net short positioning detailed below in the Gold and Silver COT sections.

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Anyone think that these rapid moves indicate that we are just starting to whiff the 'end game' with the paper/ETF rackets? I think silver will break first.

 

Well my silver ETF still seems to be tracking the price of silver quite nicely. If there is any sign of and endgame for the ETF's though, I hope the silver one goes splat before my gold one.

 

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Did anyone buy any English Roses? If so what are they like? Still awaiting confirmation of order...but in the meantime I managed to secure a mint roll of Kennedy '64's, some old Morgan dollars and other bits and bobs just for ehem, emergencies...

 

Tried to buy some back on the 11th Nov from Sarnia but my order couldn't be filled because they only had 7 left. Went to CID and got brits and eagles instead.

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Did anyone buy any English Roses? If so what are they like? Still awaiting confirmation of order...but in the meantime I managed to secure a mint roll of Kennedy '64's, some old Morgan dollars and other bits and bobs just for ehem, emergencies...

 

Jake, is your order with CID?

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Jake, is your order with CID?

Yes. At least for the Roses. Why? Is there something I should know?

 

US stuff not with them BTW.

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Yes. At least for the Roses. Why? Is there something I should know?

 

US stuff not with them BTW.

 

no not really

 

i am just trying to ascertain mintage numbers and wondering whether this years batch will be quite low in number

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Silver About to Explode Higher?

 

Though I have believed deflationary forces were too powerful to be overcome by government intervention, global capital flows and/or an insane level of intentional wasting of money may prove to be too much. If silver breaks out to new highs for the decade, the deflation argument is going to look mighty thin. I remain hedged with Gold, as an inflationary holocaust means that Gold will peak in the $5,000-$20,000/oz range instead of the $2,000-$3,000 range. Either way, Gold holders will win over general stock holders. However, in a heavy inflationary environment, I believe silver has greater upside potential than Gold. Needless to say, I am going to hang on to my remaining physical silver until I see how this one plays out.

 

silver-17-1.png

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Special offer...

 

As of early Saturday morning, November 21st 2009, we will be offering a silver coin at a fixed price as long as the reserved stock for this offer lasts! Visit our website www.CoinInvestDirect.com on Saturday to find out more!

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