1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Why no BREXIT enthusiasm from silver?

Discussion in 'Gold Silver (All things Metal)' started by the_shootist, Jun 24, 2016.



  1. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,137
    Likes Received:
    13,934
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    I mean, gold took a nice boost in price today but silver....not so much.

    Why is that?
     
  2. Oldmansmith

    Oldmansmith Midas Member Midas Member

    Joined:
    Mar 31, 2010
    Messages:
    4,764
    Likes Received:
    4,756
    Trophy Points:
    113
    Occupation:
    Environmentl Consultant
    Location:
    Taxachusetts
    Dollar rose, gold rose, they are money. They are telling you that silver is not money.

    Don't get me wrong, I had a bunch of it before that terrible boating accident, but that is what they are telling you.
     
    gringott likes this.
  3. <===Foolsgold

    <===Foolsgold Gold Chaser Site Supporter ++ Platinum Bling

    Joined:
    Mar 31, 2010
    Messages:
    3,887
    Likes Received:
    3,458
    Trophy Points:
    113
    Location:
    Pennsyltucky
    Cause silver sucks. Just ask Irons.
     
    andial, gringott and Oldmansmith like this.
  4. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,137
    Likes Received:
    13,934
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    If that's what they're telling me then I'm certain silver is indeed money and it's too bad you had that terrible boating accident.
     
    mayhem and Oldmansmith like this.
  5. SilverCity

    SilverCity Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,794
    Likes Received:
    2,200
    Trophy Points:
    113
    Occupation:
    retired aerospace
    Location:
    New Babylon
    City of London (bremain proponents) owns all the paper silver bullion and they are pissed. That's why no love for the shiny.

    SC
     
    Last edited: Jun 25, 2016
  6. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    13,013
    Likes Received:
    14,914
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    N/A
    Location:
    You can't get there from here.
    Gold is money. Silver, not so much.
     
  7. Silver

    Silver Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,581
    Likes Received:
    2,793
    Trophy Points:
    113
    I resemble that remark!

    Silver can make you rich. Hopefully you didn't miss the run from under $5 an ounce to $49 an ounce.

    If we get another 10 bagger from current levels, I'll be a very happy camper.
     
    Son of Gloin likes this.
  8. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,137
    Likes Received:
    13,934
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    Gold is the 'big bills', silver is the 'small change'. A
    If you have a little small change here and there soon you're talking about real money
     
  9. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    13,777
    Likes Received:
    6,814
    Trophy Points:
    113
    QWAK,The debt bill has arrived!



    the DUCK :winks2:
     
  10. GOLDZILLA

    GOLDZILLA Harvurd Koleej Jeenyus Midas Member

    Joined:
    Apr 1, 2010
    Messages:
    6,831
    Likes Received:
    5,999
    Trophy Points:
    113
    IMHO, 43 cents is pretty good day for silver.
     
    OverOver likes this.
  11. FunnyMoney

    FunnyMoney Silver Member Silver Miner

    Joined:
    Apr 1, 2010
    Messages:
    2,144
    Likes Received:
    1,093
    Trophy Points:
    113
    I'm so glad I closed out my hedges last Friday. But I'm kicking myself for not having some leverage prior to this move. After all said and done:

    Gold up just under 5%
    Silver up just under 3%
    Platinum up just under 2%

    I'm calling it a refreshing day for winners of the Truth. Brussels, the way they formed that dictatorship, is anything but the Truth!
     
    gringott likes this.
  12. Weatherman

    Weatherman In GIM since 2006 Gold Chaser Site Supporter

    Joined:
    Mar 30, 2010
    Messages:
    2,454
    Likes Received:
    2,225
    Trophy Points:
    113
    Gender:
    Male
    Probably for the same reason that oil, palladium, copper, and grains were down sharply - many are guessing that Brexit will cause (or exacerbate) a world wide recession.
     
    Son of Gloin and gringott like this.
  13. latemetal

    latemetal Platinum Bling Platinum Bling

    Joined:
    Apr 1, 2010
    Messages:
    4,326
    Likes Received:
    2,191
    Trophy Points:
    113
    Silver up 2.2% for the week, Gold up 2.1% for the week. Gold finally caught up Friday...Franklin Sanders says. Five day chart[​IMG] [​IMG]
     
    Last edited: Jun 25, 2016
    Son of Gloin and Ebie like this.
  14. Ragnarok

    Ragnarok I'd rather be Midas Member

    Joined:
    Mar 31, 2010
    Messages:
    5,478
    Likes Received:
    4,317
    Trophy Points:
    113
    Because you won't find any metal except gold in central bank vaults.

    R.
     
  15. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,137
    Likes Received:
    13,934
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    But silver has been used as barter for centuries. It's a metal that has demonstrated value over a very long sample size. Why is it now that it has no monetary value? It's the same type of element as gold
     
  16. Weatherman

    Weatherman In GIM since 2006 Gold Chaser Site Supporter

    Joined:
    Mar 30, 2010
    Messages:
    2,454
    Likes Received:
    2,225
    Trophy Points:
    113
    Gender:
    Male
    The gold price surge Friday was caused by big money rushing into precious metals, which means gold for big money. A critical difference between gold and silver is that gold has always been much more expensive. Central banks and wealthy people can park a lot of wealth in a small space with gold, but that would be difficult to do with silver because of the much greater space and weight required. The wealthy view silver as a problem because you get too much metal for your money. As the price of silver increases, however, silver will require less storage space and weight so it will become more attractive as a store of wealth. That will create a positive feedback loop in which the wealthy allocate more to silver as its price increases, and that will drive the price higher. The link below is one guess at what might happen if gold and silver started at equal prices, and then responded to free market supply and demand.

    Could Silver Cost More Than Gold?
     
    Son of Gloin likes this.
  17. Zed

    Zed Size doesn't count! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    11,178
    Likes Received:
    9,119
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Nuclear Technician
    Location:
    Springfield
    We need the OI numbers for Friday, that will tell you how aggressively it was sold. Given the pop prior and the number of stops that must have been hit the comex session was suspiciously flat. The short side must have held fast in a very professional manner (easier if it is a concentrated position) and added to cover the extra demand. Logic dictated it should have been a bit of a short squeeze... but it just lay there... dead... suspiciously dead. The volume was there... so... I am guessing that OI opened right up for the day.

    I just checked, Friday prelim numbers had gold OI up ~60K across all contracts. That is ~10% in a session... that is probably why, lotta new selling.

    2c

    JMO
     
  18. Zed

    Zed Size doesn't count! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    11,178
    Likes Received:
    9,119
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Nuclear Technician
    Location:
    Springfield
    + don't forget the USD was strong as well which makes the moves more impressive. The AUD move was great.
     
    D-FENZ likes this.
  19. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

    Joined:
    Jan 24, 2011
    Messages:
    1,450
    Likes Received:
    2,843
    Trophy Points:
    113
    Glad to see you back again Zed. I've always enjoyed looking at things from your perspective.

    Stick around.
     
    JayDubya and Zed like this.
  20. Zed

    Zed Size doesn't count! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    11,178
    Likes Received:
    9,119
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Nuclear Technician
    Location:
    Springfield
    Insanity offers a certain depth sometimes, other times it is just insanity.

    Buyer beware. :-)
     
    D-FENZ likes this.
  21. Silver

    Silver Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,581
    Likes Received:
    2,793
    Trophy Points:
    113
    One of the security benefits of silver is its weight. Try running down the street with a couple $1000 face value bags of junk. Then try running down the street with the equivalent dollar value in gold - it won't even slow you down.

    Compact isn't always better.
     
    Son of Gloin likes this.
  22. SilverCity

    SilverCity Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,794
    Likes Received:
    2,200
    Trophy Points:
    113
    Occupation:
    retired aerospace
    Location:
    New Babylon
    LOL. I remind myself of that every time I watch movies on my "big screen" TV. That sucker is the size of a Buick and weighs 10,000 pounds. Try stealing that one you crackheads.

    SC
     
  23. Zed

    Zed Size doesn't count! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    11,178
    Likes Received:
    9,119
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Nuclear Technician
    Location:
    Springfield
    My last one was 95 kilo... :belly laugh:
     
    SilverCity likes this.
  24. goldielox1

    goldielox1 Silver Miner Seeker

    Joined:
    Jun 20, 2013
    Messages:
    612
    Likes Received:
    466
    Trophy Points:
    63
    Simple.

    Gold is money
    Silver is half money, half industrial.

    If industry plummets from a recession, one would expect gold to outperform.

    When originally getting into this game, I moved moreso into gold for that reason.

    Remember 1980 when silver skyrocketed much more than gold? People point to that as what *should* happen next time. However, the problem as I see it, is that 1980 the economy was starting to boom thus industrial demand for silver was increasing greatly. No such danger this time around, which is why I think gold is a better play.
     
  25. Weatherman

    Weatherman In GIM since 2006 Gold Chaser Site Supporter

    Joined:
    Mar 30, 2010
    Messages:
    2,454
    Likes Received:
    2,225
    Trophy Points:
    113
    Gender:
    Male
    In 1980, the US Gov't had 2 Billion ounces of silver bullion in storage, in addition to the bullion in COMEX and other locations around the world. That excess silver has already been consumed, but a substantial amount of gold bullion has been added to vault storage in the past 36 years. Even as the amount of silver bullion was used up forever over the past three decades, the banksters have depressed the price of silver by providing an immense supply of paper shorts. The amount of silver that is consumed may decrease with a world wide recession, but the supply of silver derived from byproduct mining will surely decrease by more. With much more physical silver than gold being purchased by strong hands for investment, I cannot imagine that anyone would bet that gold will double to $2,700 before silver doubles to $37. Gold could sprint faster than silver in the short run as rich investors panic out of paper fiat, but I am convinced that silver will win the race.
     
    solarion, Silver and Son of Gloin like this.
  26. Fiat Metaler

    Fiat Metaler Gold Member Gold Chaser

    Joined:
    Apr 2, 2010
    Messages:
    1,876
    Likes Received:
    832
    Trophy Points:
    113
    silver is catching up.

    it probably had a delayed move because my understanding is that unlike gold, physical silver is taxed onerously in the UK.
     
    Weatherman likes this.
  27. andial

    andial Sir Midas Member Site Supporter ++

    Joined:
    Apr 1, 2010
    Messages:
    9,677
    Likes Received:
    9,311
    Trophy Points:
    113
    Silver will never rally let's face it, it's a bum metal never amount to nothing.
     
    Irons and <===Foolsgold like this.
  28. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,137
    Likes Received:
    13,934
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    Now that statement betrays a negative attitude
     
    andial likes this.
  29. <===Foolsgold

    <===Foolsgold Gold Chaser Site Supporter ++ Platinum Bling

    Joined:
    Mar 31, 2010
    Messages:
    3,887
    Likes Received:
    3,458
    Trophy Points:
    113
    Location:
    Pennsyltucky
    White copper was abused as a child and the emotional damage causes a delayed response to certain stimuli.
     
    Irons likes this.
  30. karl_gerbschmidt

    karl_gerbschmidt Seeker

    Joined:
    Nov 10, 2015
    Messages:
    114
    Likes Received:
    50
    Trophy Points:
    28
    seems silver s catching up quick---zoom zoom--gsr is under $70
     
    smilershouse likes this.
  31. smilershouse

    smilershouse Gold Member Gold Chaser

    Joined:
    Apr 1, 2010
    Messages:
    2,320
    Likes Received:
    1,060
    Trophy Points:
    113
    Location:
    Australia
    CMA.............Current Movement Average GSR 26.0344828

    SH
     
    andial likes this.
  32. GOLDZILLA

    GOLDZILLA Harvurd Koleej Jeenyus Midas Member

    Joined:
    Apr 1, 2010
    Messages:
    6,831
    Likes Received:
    5,999
    Trophy Points:
    113
  33. Son of Gloin

    Son of Gloin Gold Member Gold Chaser Site Supporter ++

    Joined:
    Apr 6, 2010
    Messages:
    2,398
    Likes Received:
    3,755
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Delivery boy.
    Location:
    USA
    Silver has been beat down so badly for so long now, I look at the current price and feel the kind if awe I might experience if I were watching David Copperfield levitating a Cadillac in mid air, wondering how in the hell is that happening!? Friday night, about 11:15 PM and silver sits at $19.87. I know it's not that awesome, but ya wonder how it got there all of a sudden and if it's going to go higher.
     
    Weatherman likes this.
  34. Irons

    Irons Deep Sixed Site Supporter Mother Lode

    Joined:
    Mar 30, 2010
    Messages:
    22,491
    Likes Received:
    28,469
    Trophy Points:
    113
    Nobody cares about silver. Heck it's barely a step above brass!

    .

    .
     
  35. Zed

    Zed Size doesn't count! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    11,178
    Likes Received:
    9,119
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Nuclear Technician
    Location:
    Springfield
    Nobody cares = BUY!

    :dduck:

    Always.
     
    Irons and Son of Gloin like this.
  36. Son of Gloin

    Son of Gloin Gold Member Gold Chaser Site Supporter ++

    Joined:
    Apr 6, 2010
    Messages:
    2,398
    Likes Received:
    3,755
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Delivery boy.
    Location:
    USA
    Silver is very important. You'll need some to melt down into bullets if you ever have a werewolf problem in your town. I'd suggest 44 mag hollow points, if you want to be sure. And a cool, steady hand.
     
    Irons likes this.
  37. Irons

    Irons Deep Sixed Site Supporter Mother Lode

    Joined:
    Mar 30, 2010
    Messages:
    22,491
    Likes Received:
    28,469
    Trophy Points:
    113
    Guy on my metal detecting forum came up with the "barely a step above brass" description. Scooping up 40 cents instead of 40 dollars is a bit of a let down. ;)

    .
     

Share This Page