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Reddit Investors Piling Into Silver Drive Up Prices a Second Day

ds_mustang

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Go back to buying g bitcoin man. Why are you here?
What is your problem? I've been in physical gold and silver since 2003. I'd put my knowledge of the metals and related markets against yours any day. I was also on the old GIM site under a different name, probably for longer than you.
 

Scorpio

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then to mention also,

keep your eye on the dollar and overall stocks

stocks overall are down some, but nothing major going into a monday, which historically can be a kick butt day after late week weakness the prior week if something was going down

then you have the buck, which is flat right now, not really tipping anything either way
 

Scorpio

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chitcoin is showing a bit of weakness after fridays gains,

down 2k to 32k or so for now anyway
 

EO 11110

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reddit trolls can be blamed for stock market getting hit. wouldnt surprise me to see some downside drama near term

nyc vipers feast on volatility
 

nickndfl

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The towelheads did the same thing to our oil markets and drove up the price by purchasing call options on their own oil. I remember $4 gasoline and no reason we should go back other than politics. Now $40 silver makes more sense and will torpedo the solar market.
 

gringott

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Blythe Masters just emailed me this, after she saw my post on reddit that I am sitting on thousands of ASEs.

1612141555660.png
 

Mujahideen

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That is what I'm afraid of.
They would have a hard time actually doing it, and also there wouldn’t even be a justification seeing how our coins are copper clad in nickel.
 

gringott

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We know what is happening in the economy.

Brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.
 

anywoundedduck

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I'm sure they will trash me if they can. But my point is maybe, just maybe, a light will shine on their huge short that they have used to keep silver longs trashed. Best chance yet, IMO.
 

gringott

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The Emperor has no clothes.

Brrrrrrrrrrrrrrrrrrrrrrrrr.
 

msolorio3

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Agree. I rather bite the bullet, pay the premium and have metal in hand.

Always amazed with the hypocrisy around here.

On the one hand it's "FUCK bitcoin! If you don't hold it, you don't own it! ...oh btw I'm stacking paper silver" lol
I converted my Bitcoin to a nice AG kilo bar :-)
 

gringott

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Hold the line Brother msolorio3.
 

gringott

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Owner of Provident etc.
1612144125554.png
 

anywoundedduck

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Silver Doc ticker at $28.78......?
 

Irons

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Got this in my email @ 9:54 PM tonight. Velly intelesting..............


APMEX News <APMEXNews@silverandgold.apmex.com>
Sun 1/31/2021 9:54 PM




To:
  • You

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.

Sincerely,
Ken Lewis
CEO, APMEX


.​
 

coopersmith

for fuck sake..........
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Got this in my email @ 9:54 PM tonight. Velly intelesting..............


APMEX News <APMEXNews@silverandgold.apmex.com>
Sun 1/31/2021 9:54 PM




To:
  • You







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.

Sincerely,
Ken Lewis
CEO, APMEX


.​
dang
 

gringott

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I'm suffering from deja vu with the mandella effect, or did CERN do this?
 

SongSungAU

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1612151357058.png
 

Buck

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so, physical sales, change the paper spot price, exactly how?

:don't know:
 

ttazzman

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Got this in my email @ 9:54 PM tonight. Velly intelesting..............


APMEX News <APMEXNews@silverandgold.apmex.com>
Sun 1/31/2021 9:54 PM




To:
  • You







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.

Sincerely,
Ken Lewis
CEO, APMEX


.​
got the same thing just now
 

ttazzman

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so, physical sales, change the paper spot price, exactly how?

:don't know:

if people are willing to pay 40$ a ounce for physical...........paper buyers will start taking delivery and converting it to retail silver.........very simple

the paper market only works as long as you swap paper for paper........when someone wants the real stuff that is promised by the paper it will balance very quickly....it usually takes a 30day or more set for paper to start demanding delivery of physical
 

Buck

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and with manipulation through the push of a button and a few emails, those are not really efficient methods and that button push can happen hourly if required...

i'm very curious to see if this 'play' will actually happen and if it does, and over-rides their ability to manipulate, then i'm going to wait for the game to be gamed and simply with the push of a button, shut down...

spot price can still be manipulated and run up and down to make those pretty charts and graphs, on a whim, while those who 'are in' can be basically locked out and any trades become reversed...they've already threatened to do so...

so, it's plausible what you guys are saying but

i don't think so...

but, o.k.

i'm just off to watch and throw some cents into this because i believe the euphoria is being led...but i'm not certain by whom

 

low_five

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What is your problem? I've been in physical gold and silver since 2003. I'd put my knowledge of the metals and related markets against yours any day. I was also on the old GIM site under a different name, probably for longer than you.
Same. Remember how quickly they crashed the SLV in 2011, but you sure couldn't buy any at that price. You could sell all day long though.
 

nowon

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Game changer if/when industrial users start locking up supply in light of all the physical demand. Could also see miners with minting ability (AG) expand physical sales and bypass crimex if prices continue to be monkey hammered.
 

SongSungAU

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EO 11110

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just checked -- rolls of eagles selling for 800+ on ebay

shade tree dealers just hit it big