• Same story, different day...........year ie more of the same fiat floods the world
  • There are no markets
  • "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

Why no BREXIT enthusiasm from silver?

the_shootist

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#1
I mean, gold took a nice boost in price today but silver....not so much.

Why is that?
 

Oldmansmith

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#2
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.
 

<===Foolsgold

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#3
Cause silver sucks. Just ask Irons.
 

the_shootist

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#4
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.
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.
 

SilverCity

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#5
City of London (bremain proponents) owns all the paper silver bullion and they are pissed. That's why no love for the shiny.

SC
 
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Silver

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#7
Cause silver sucks. Just ask Irons.
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.
 

GOLD DUCK

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#9
QWAK,The debt bill has arrived!


the DUCK :winks2:
 

GOLDZILLA

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#10
IMHO, 43 cents is pretty good day for silver.
 

FunnyMoney

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#11
IMHO, 43 cents is pretty good day for silver.
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!
 

Weatherman

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#12
I mean, gold took a nice boost in price today but silver....not so much.

Why is that?
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.
 

latemetal

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#13
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
 
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Ragnarok

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#14
I mean, gold took a nice boost in price today but silver....not so much.

Why is that?
Because you won't find any metal except gold in central bank vaults.

R.
 

the_shootist

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#15
Because you won't find any metal except gold in central bank vaults.

R.
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
 

Weatherman

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#16
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
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?
 

Zed

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#17
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
 

Zed

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#18
+ don't forget the USD was strong as well which makes the moves more impressive. The AUD move was great.
 

Silver

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#21
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.
 

SilverCity

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#22
Compact isn't always better.
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
 

goldielox1

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#24
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.
 

Weatherman

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#25
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.
 

Fiat Metaler

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#26
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.
 

andial

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#27
Silver will never rally let's face it, it's a bum metal never amount to nothing.
 

<===Foolsgold

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#29
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.
White copper was abused as a child and the emotional damage causes a delayed response to certain stimuli.
 

smilershouse

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#31
CMA.............Current Movement Average GSR 26.0344828

SH
 

GOLDZILLA

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#32
Silver definitely got a boner today.
 

Son of Gloin

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#33
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.
 

Irons

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#34
I mean, gold took a nice boost in price today but silver....not so much.

Why is that?
Nobody cares about silver. Heck it's barely a step above brass!

.

.
 

Son of Gloin

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#36
Nobody cares about silver. Heck it's barely a step above brass!

.

.
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

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#37
Nobody cares = BUY!

:dduck:

Always.
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. ;)

.