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Silver Market Update - PERFECT BUY SPOT

Scorpio

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Silver Market Update - PERFECT BUY SPOT AS BREAKOUT INTO MAJOR NEW UPLEG LIKELY SOON...​

originally published Saturday, August 14, 2021

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All Latest Silver Market Update

Silver is now regarded as the best value hard asset around, and it really doesn’t matter in the long-term whether J P Morgan and the other banks try to suppress the price or not, because like gold it has intrinsic value and in the situation of high inflation that we are moving into and that has already started, when most asset prices are surging it is illogical to think that silver won’t do likewise. If they insist on trying to sit on it all that will happen is that the physical market will break completely from the paper market will be increasingly perceived as absurd. We should therefore take advantage of its current relatively very low price to accumulate silver investments across the board.
Like gold, silver put in a reversal at key support last week, which is more obvious on the weekly chart that filters out “noise”. On its chart we can see a significant hammer candle at support, although it is not as dramatic as the one in gold. On the 3-year weekly chart we can see the reversal candle at support and how it is clearly at a very good entry point here, especially as moving averages remain in bullish alignment which makes it highly likely that the pattern that has been forming for the past year is a consolidation that will be followed by another big upleg and probably soon, obviously made more likely by mounting inflation. While a risk-off pan selloff would obviously cause it to breach the support and crater, this doesn’t look likely soon for reasons mentioned in the parallel Gold Market update.



Silver’s latest COT chart is also more conducive to another major upleg developing soon than it has been for at least a year. On it we can see that Commercial short positions and Large Spec long positions are at their lowest levels for at least a year, which means that interest in silver has waned, which often precedes a new upleg.



End of update.
 

southfork

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I'll be your huckleberry
 

Dude

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Silver is crazy. I hate buying above $20 an ounce so I just nibble right now at 20 ozs. a month when I see a drop and a deal...

I miss the $16.55 eagles, delivered. I really miss the days I used to buy 100 merc dimes for $43.00. Junk was below spot back then. Brother keeps referring to Blazing Saddles that I have the necessary shitload of dimes.
 

TAEZZAR

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Silver is crazy. I hate buying above $20 an ounce so I just nibble right now at 20 ozs. a month when I see a drop and a deal...

I miss the $16.55 eagles, delivered. I really miss the days I used to buy 100 merc dimes for $43.00. Junk was below spot back then. Brother keeps referring to Blazing Saddles that I have the necessary shitload of dimes.
Yeah I miss $1.90 silver of the 1970's, YES, I have been buying it since lamebrainjohnson & trickydickheadnixon took us off of PM's. My average silver buy-in, was $3.35 & $385 for gold, until 8 Sept 2020
:blew up::rage 1:blew up::rage 1:blew up:
 
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Buck

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i'm ocd too but i've had to start over a few times

i went Black on 6-3-2018 (i use the term Green, on my chart) but i was coming down in value, those were long years for me


:2 thumbs up:
 

Voodoo

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I been buying silver kilos and 1oz / 0.10 oz platinum.

That's exactly what I've been looking at this past week... Except for 0.1 oz Pt but I can see that having some uses.
 

BigJim#1-8

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Silver is crazy. I hate buying above $20 an ounce so I just nibble right now at 20 ozs. a month when I see a drop and a deal...

I miss the $16.55 eagles, delivered. I really miss the days I used to buy 100 merc dimes for $43.00. Junk was below spot back then. Brother keeps referring to Blazing Saddles that I have the necessary shitload of dimes.
I remember not buying rolls of ASE's for $125.00 because spot was around $4.00 & thought the premium was too high.
Times they are & keep changing.
Remember 100 Oz Bars for less than $400.00
 

AurumAg

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I am shocked to see Ag spot below $24.
 

TAEZZAR

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I am shocked to see Ag spot below $24.
With our fiat being in the toilet, PM's should have zero's after their present spot $$$! :Grrr: :Grrr: :Grrr:
 

ds_mustang

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I still like gold. Gold is looking like a huge value play against all these other assets that have been shooting up. At some point attention will cycle back into gold. And I don't see how silver can rise with any conviction without gold.
 

nickndfl

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Recent good spots have been $1860s for 1oz gov't gold bullion and $841 silver kilo bars.
 

southfork

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Got 100 franklin halves at face yesterday
 
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BigJim#1-8

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