Midnight to 6am - Overnight Spot Watchers Spot...

Discussion in 'Silver' started by Turk, Mar 31, 2011.

  1. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    2,649
    Likes Received:
    3,019
    Trophy Points:
    113
    Location:
    Melbourne
    Bed is the better option tonight
     
    ppier likes this.
  2. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    2,649
    Likes Received:
    3,019
    Trophy Points:
    113
    Location:
    Melbourne
    Whatupppp
     
  3. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    1,891
    Likes Received:
    3,391
    Trophy Points:
    113
    Location:
    Australia
    UK rate hike.

    ==
    The Bank of England has raised interest rates to their highest level in 13 years as it looks to tackle the cost of living crisis gripping the UK.

    It announced an increase from 0.75 per cent to 1 per cent on Thursday, a level which has not been seen since the aftermath of the financial crisis in early 2009.
    The Bank of England’s Monetary Policy Committee (MPC) voted in favour of the rise with six votes to three.
    Those who opposed it - Jonathan Haskel, Catherine Mann, and Michael Saunders - wanted a larger increase to 1.25 per cent, the central bank said.

    It was the fourth time in a row the committee has voted in favour of an interest rate hike, as the UK grapples with soaring inflation driven by rising energy costs.
    In its report on Thursday, it also warned the economy will go into reverse and inflation will peak at more than 10 per cent as the Ukraine war compounds cripppling living costs.

    https://www.independent.co.uk/news/business/bank-interest-rates-uk-live-inflation-2022-b2072034.html
     
    heartastack likes this.
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,553
    Likes Received:
    3,397
    Trophy Points:
    113
    Location:
    Colorado USA
    The gold backed Rouble will gain even more strength and acceptance once the gold back Yuan comes out.
    Sounds like a great trading currency to me. Much better than the Petrofiat.
     
  5. Davros10

    Davros10 Well-Known Member Silver Stacker

    Joined:
    Aug 6, 2014
    Messages:
    723
    Likes Received:
    714
    Trophy Points:
    93
    Location:
    Canberra
    Not overnight, but $5 drop on silver over the last 3 weeks. Just under 20%
     
    sammysilver likes this.
  6. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    5,340
    Likes Received:
    3,450
    Trophy Points:
    113
    Location:
    P!MP land-Seedeneey
    ^^^
    Ag drop on spot isn’t reflected against current market yet…as dealers are not updating their prices on FS bars down…yet…

    can’t wait too much longer…gotta…b…u…y…sil…ver.
     
    JohnnyBravo300 and sammysilver like this.
  7. Metalsupps

    Metalsupps Member

    Joined:
    Apr 1, 2022
    Messages:
    21
    Likes Received:
    20
    Trophy Points:
    13
    Location:
    Australia
    US spot just hit support level at ~$21.50 and ~$30.50AUD at 6am, I pulled the trigger this morning on a decent qty.
     
    JohnnyBravo300 likes this.
  8. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,925
    Likes Received:
    6,515
    Trophy Points:
    113
    Location:
    Sydney
    The drop in spot is in direct opposition to the silver supply.
    Therefore be careful flipping at lower prices as you may not be able to replace it.
    Finally, the AUD is below 70c so should it start rising prices will be the cheapest for little or no silver supply.
     
    Metalsupps likes this.
  9. Metalsupps

    Metalsupps Member

    Joined:
    Apr 1, 2022
    Messages:
    21
    Likes Received:
    20
    Trophy Points:
    13
    Location:
    Australia
    FOMO will kick in the next few months and supply will be tested.
     
    Last edited: May 11, 2022
  10. ParanoidAndroid

    ParanoidAndroid Well-Known Member

    Joined:
    Dec 2, 2015
    Messages:
    1,011
    Likes Received:
    647
    Trophy Points:
    113
    Location:
    Over there
    I stopped by a seller in Brisbane yesterday and enquired about prices. The were selling a standard 10 oz bar for $372.50.
     
    jultorsk likes this.
  11. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    5,340
    Likes Received:
    3,450
    Trophy Points:
    113
    Location:
    P!MP land-Seedeneey
    ^^^
    you’ll be lucky to get anything less than that now
     
  12. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,925
    Likes Received:
    6,515
    Trophy Points:
    113
    Location:
    Sydney
    Other than the secondary market there is little in the way of new low premium silver.
     
    66rounds and adze67 like this.
  13. silvertop

    silvertop Member

    Joined:
    Dec 14, 2010
    Messages:
    118
    Likes Received:
    5
    Trophy Points:
    18
    Location:
    Australia
    That's interesting. Markets are truly suffering lately
     
  14. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,553
    Likes Received:
    3,397
    Trophy Points:
    113
    Location:
    Colorado USA
    Not a bad time to buy imo but we can look back in a few years and decide if it was.

    I need to build a garage/shop so im saving cash for now but if we have a crazy drop (and physical follows like 2020) i will probably buy and not be able to resist like usual.

    The last 7 or 8 years ive been selling my fiat for metals as soon as i get it and now saving in cash form goes against everything and its so dang hard haha.

    To be honest, if physical drops much below $25 here in the US ill be ready to drop a little fiat on that. I can't lie and the temptation will win.
     
    jultorsk and adze67 like this.
  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,553
    Likes Received:
    3,397
    Trophy Points:
    113
    Location:
    Colorado USA
    Im sitting at a hotel in Aspen for work bored as phuk so looking at Apmex with spot so low now.
    Gold seems to have come down some but Peace and Morgan dollar CULLS are still $32 and $33.
    There was a new 1 oz gold Apmex bar in the tamper resistant packaging for $1900 on sale.
    Damn that looks good but it could go lower.

    My wife says no we need a garage and i said yes, its FOR the garage. I told her we can even keep it in our cash envelope and sell it in a year or whenever (never gonna happen) if it makes her feel better.

    Im really eyeing the Mexican 50 Peso 1.20 oz gold but maybe the cheaper bar would be smarter. Ive been wanting one of those 50 Pesos for a long time now.
    Ill probably post the pic of it soon haha.

    When i let a woman tell my how to spend my money ill stop working and she can take over. "Theres always mommas house" is what i say and after 32 years shes still packing my lunches and keeping my coffee mug full and hasnt gone to mommas.

    When people ask me the secret i tell them to find a good squaw or Eskimo girl. They make great wives and mothers, they age well and they actually like men.
    Mines of the Cherokee breed with a little German mixed in for meanness hehe.
    Ok back to the peace pipe. Gnite.
     
    Last edited: May 14, 2022
    Real $, bubblebobble2, ppier and 3 others like this.
  16. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2010
    Messages:
    8,298
    Likes Received:
    7,656
    Trophy Points:
    113
    Location:
    House Corrino
    Well the silver chart looks depressing.... (I'm front running midnight to 6:00AM here in Australia so I don't have to wake up).
     
    jultorsk, sammysilver and adze67 like this.
  17. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    1,487
    Likes Received:
    2,846
    Trophy Points:
    113
    Saving cash is depressing. I've been holding back stacking over the past two years and would love the opportunity to acquire more at a lower price. If we get to the $17USD range, I'm going to pounce on that. Many primary silver mines have a declared AISC around this range or higher. The longer we stay under $30USD per Oz, the less incentive there is for exploration and new mine developments. Mine supply alone hasn't been sufficient to meet global demand for decades. Primary silver mines have been a crucial component of global supply and byproduct mining only accounts for 50-60% of annual demand.

    So the charts only look depressing if you don't intend to acquire more at lower prices. Otherwise, the charts look great!
     
  18. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    1,891
    Likes Received:
    3,391
    Trophy Points:
    113
    Location:
    Australia
    Yowzers! :eek:

    Screen Shot 2022-05-18 at 8.05.38 am.png Screen Shot 2022-05-18 at 8.05.13 am.png
     
  19. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    1,487
    Likes Received:
    2,846
    Trophy Points:
    113
    A $30 drop in Gold and a 40c drop in the silver price isn't yowzers. That's just typical market volatility in a daily chart. Gold and silver can make those moves from the AUD/USD exchange rate alone.
     
  20. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

    Joined:
    Mar 25, 2020
    Messages:
    1,540
    Likes Received:
    4,719
    Trophy Points:
    113
    Location:
    Deep Down The Rabbit Hole
     
    Last edited: Oct 18, 2023
    66rounds, jultorsk and STKR like this.

Share This Page