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Looks like someone doesn't want their silver any more...

 

You are just looking at the paper silver price. Don't be fooled.

 

http://www.kitco.com

 

In order to reflect the current strong demand for Silver Maples and Silver Eagles, Kitco is temporarily increasing its current bid (buyback) price for these particular products. Please visit our Selling to Kitco page for more details.

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You are just looking at the paper silver price. Don't be fooled.

 

http://www.kitco.com

 

 

This is the Cash price for delivery of physical bars also as far as I know.

 

There is nothing stopping you buying at that price if you are buying 1000oz bars, is it?

 

The kitco comment only applies to coins.

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Looks like someone doesn't want their silver any more...

 

silverwuf8.gif

 

Doesn't look like one big liquidation sell-off to me. Strange.

 

USD must turn at some point.

 

I think this suggests other reasons ;):rolleyes:

 

 

Got Gold Report – Gold, Silver Demand White Hot

 

By Gene Arensberg

29 Sep 2008 at 02:11 PM GMT-04:00

 

Demand for gold and silver ETFs is transmitting a signal to the paper-contract-dominated spot bullion markets.

http://www.resourceinvestor.com/pebble.asp?relid=46521

 

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This is the Cash price for delivery of physical bars also as far as I know.

 

There is nothing stopping you buying at that price if you are buying 1000oz bars, is it?

 

The kitco comment only applies to coins.

 

It is interesting that you point this out lardoon.

 

I have thought about this but most of my thoughts are disjointed and point to no outcome. The fact remains that small silver coinage / bullion is still hard to get and/or selling way over spot. Will the price of small coinage / bullion come down when refiners can handle this demand? Is there a lack of buyers of the 1000oz bars because most of the small coin / bullion buyers are priced out? Will we see an 'up the chain' demand reach the 1000oz bars , such that they will be the next silver item (the last!) to disappear from Kitco's inventory. I'm going to stick my neck out here and go for the latter (to the howls of derision from the ag bashers!).

 

We shall see in the coming months, but note the 1000oz bars are the only silver bullion products kitco sells now and they are the largest, coincidence?

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It is interesting that you point this out lardoon.

 

I have thought about this but most of my thoughts are disjointed and point to no outcome. The fact remains that small silver coinage / bullion is still hard to get and/or selling way over spot. Will the price of small coinage / bullion come down when refiners can handle this demand? Is there a lack of buyers of the 1000oz bars because most of the small coin / bullion buyers are priced out? Will we see an 'up the chain' demand reach the 1000oz bars , such that they will be the next silver item (the last!) to disappear from Kitco's inventory. I'm going to stick my neck out here and go for the latter (to the howls of derision from the ag bashers!).

 

We shall see in the coming months, but note the 1000oz bars are the only silver bullion products kitco sells now and they are the largest, coincidence?

 

Well, one of my possible theories for this is that the 1000oz bars is what the insiders (ie industrial users, professional investors etc.) use as this is the COMEX and LBMA delivery format.

So insiders are selling (falling price) while small investors are buying (shortage of coins and increased premiums). And from a contrarian point of view that surely would not be the best time to buy...

 

...but that is discounting any potential PPT bashing of the Paper silver price... ;)

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But is it not the small investors or the public that drive a bull market into a mania? We saw this with dotcoms and houses. This is just the beginning.

 

This is 2003 of the housing market?

 

Other clues: The junior miners - all pretty much in the dumps

 

How many gold books are there in Waterstones? I count 1, Vs the numerous ones on property and even stocks

 

I cant buy Britannias in Argos or H Samuel

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But is it not the small investors or the public that drive a bull market into a mania? We saw this with dotcoms and houses. This is just the beginning.

 

This is 2003 of the housing market?

 

The other clue is the junior miners - all pretty much in the dumps

 

sorry, but can you point me in the right direction of what the ATS lady said - thanks

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But is it not the small investors or the public that drive a bull market into a mania? We saw this with dotcoms and houses. This is just the beginning.

 

This is 2003 of the housing market?

 

Other clues: The junior miners - all pretty much in the dumps

 

How many gold books are there in Waterstones? I count 1, Vs the numerous ones on property and even stocks

 

I cant buy Britannias in Argos or H Samuel

 

 

You make valid points and that is confusing me even more!! :(

especially the volume of transactions reported by ATS - $200,000 starts to be serious money.. (well only when converted to metal obviously ;) )

 

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Read what the ATS lady said - people are buying $100K to $200K at a time. I doubt they are buying fiddly coins. They are buying bars, and big ones.

 

Hello again

 

I read what she had to say:

 

.../...

 

London, 30 September 2008 - Buying of physical gold in London has reached unprecedented levels as investors, still reeling from the demise of banking giants Lehman Brothers and Merrill Lynch, look to safeguard their wealth, the Managing Director of a leading gold bullion and coin dealer said Tuesday.

 

"The problem over the last two-to-three weeks is availability. There’s an enormous demand from private buyers and very little (gold) in the market," Sandra Conway, Managing Director of ATS Bullion Ltd told TheBullionDesk.com.

 

Interest is up five-fold on month-ago levels, Conway said, and investors are buying in much larger quantities. Now, buys are frequently worth $250,000-$500,000, up from investments of $100,000-$200,000.

 

.../....

 

But how much do these 'big buyers' apply to silver. Granted, the 100oz bars are for Comex etc., but I would still maintain that an 'up the chain' demand will prevail.

 

Time will tell of course.

 

 

 

 

 

 

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I was in ATS last week picking up a few things myself - here's what i noted:

 

The people ahead of me seemed to be roughly the same in their purchases as myself... i.e. Gold 1oz coins and perhaps a little silver (not loads... i think all purchases would have been £5-15k ish). Looking at Krugers and Brittanias mainly.

 

Just before I arrived a group of three smartly dressed men who left and i gather (from the bars being removed from the front room office) they were looking at 1kg bars or more - which i consider potential support for the $200,000+ purchases increasing.

 

Needless to say i think during my time in their office (at about lunchtime) it seemed to me that the stocks of 1oz coins had gotten very low - which again supports the update in the comments reported.

 

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Dare I tempt fate with a call of "Hi Ho Silver!!"??....

 

Actually, from a purely selfish perspective I want to load up with some GoldMoney silver.... so what the hell...

 

Forget the horse -

 

 

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does anyone think we'll see $20+ again before the end of the year?

I'm slowly stocking up on coins, but can't get enough as quickly as i'd like (this is my own funds permitting, i have little debt but little savings either).

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With commodities, there will always be more dips, we had one earlier today! The trick is not to get too greedy in terms of trying to catch the bottom of the dips.

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i'm just trying to slowly build up my under the mattress collection month by month, if can get a dip great, if not i'm not too bothered, i just want to get as much as i can before it hits $20 and stays over it permanently.

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what does that mean Ker, please?

 

I think:

There was large volume on the sudden rise. Now there is a head and shoulders formation with reducing volume.

He expects the price to dip to 11.20 before going higher.

 

 

Silver is at a bargain price anywhere down at these prices IMO if you are thinking long term rather than trading.

 

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In the UK you will find that not all of these people are private buyers, you will find that some are small and medium companies who are looking to spread deposits as they do not get the same level of protection from the FSA.

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