Silver Spike...

Discussion in 'Silver' started by SilverSale, Jun 14, 2019.

  1. alor

    alor Well-Known Member Silver Stacker

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    in the States, it is much easier to find ready supply to buy from when spot price drop again, but in the East, supply is getting much tighter and got a much more hated premium to pay for
    I saw on sale limited time offer for gold item, usually after the sale the price tank again
    but is is usually cheaper to buy when on sale, when there is ready supply, rather than waiting for the spot to drop and end up with no stock, or sold out or 3 weeks re-supply
     
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  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    With no secondary market, it’s very difficult to find low premium silver in Singapore unless you buy the 100oz which you can get for about 4% over spot or 1000oz for 3% over spot.

    The 10oz generic bars which I buy are >8% premium.

    Sure I can buy on this forum but do you know auspost express is aud65 per kilo? Not counting the box and packaging which means it will exceed 1 kilo for 30 ounces.

    This is one of the reason why I buy QB 10 oz in bulk. If I have to pay 8% premium on 10 oz generic bars, I might as well pay 16% premium for 10 oz QB coins. The 6% difference isn't that much. The coins even come with a free capsule included in the price and retain their premium in the secondary market while the generic bars are an instant loss at the point of purchase.
     
    Last edited: Aug 21, 2019
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  3. alor

    alor Well-Known Member Silver Stacker

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  4. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Not sure if this has been posted already, but getting craaazy..

     
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  5. leo25

    leo25 Well-Known Member Silver Stacker

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    ^^ Between General Electric and Deutsche Bank, things are getting very interesting. :eek:
     
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  6. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Onward & upward. Would have liked a bit more of a pullback, but silver says 'catch me if you can!'
     
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  7. clear

    clear Well-Known Member

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    how much pullback? seriously
     
  8. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    That’s a big fat green candle there :D closing in on a 25% rise in price since July 1st! Bull market anyone?

    9AED1031-2201-4D75-A28C-FD1AFEB85FB9.png
    758E134A-62C9-43A9-844B-1A8CA5CE35BA.png
     
  9. 1for1

    1for1 Well-Known Member

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    Strap in lads.. the velocity will pick up here as we smash through $30 before looking to retest $50.

    Silver very much leading the way back to 1:15 imho.
     
  10. Number 47

    Number 47 Well-Known Member

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  11. leo25

    leo25 Well-Known Member Silver Stacker

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    To think less then a year ago it was in the $19 AUD range. Back then it was doom & gloom for holders, but happy days for buyers.

    [​IMG]
     
  12. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Sold my SVL today for 14c... happy enough to quickly double my money :)
     
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  13. shinymetal

    shinymetal Well-Known Member

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    I often find myself thinking that I don't want the price to go up, I would quite like another few years to build up my stack.
    But I get the feeling that's not going to happen.
     
  14. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I recently sold off my entire silver stack and went all in on gold for various reasons. My intention was to buy back into silver in a year or so time. Time will tell if i made a mistake or not.

    Edit: For those curious, these were my concerns that made me sell silver:
    1. Harder to store (Value per oz wise)
    2. Gold becoming increasingly less affordable so better to buy more now than cry later
    3. Silver at $100/oz is still affordable so can buy back in later (although probably not for investment as that would be quite a peak value)
    4. Recently unemployed and needed cash
     
    Last edited: Aug 28, 2019
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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    If you need cash, gold being more liquid is better but I think silver will eventually become money again, not in the same form as silver coins but silver backed crypto currency.

    When this happens, silver price is going to reset to maybe $100-$200 per ounce. I don’t know when this will happen, it might take 10-15 years. When silver becomes money, the GSR will fall to 15-20 as it had in the past.

    There was also a discussion on crypto earning an interest. Silver backed crypto will also be earning an interest so physical silver will actually have a yield.
     
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  16. shinymetal

    shinymetal Well-Known Member

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    I don't think silver is going to end up as money again, it's to important in industry, and will only become more needed the coming future space tech boom.
    But I have predicted a gold backed crypto world standard currency in the not that distant future.
    But I'd say your $100 - $200 an oz prediction on silver needs an extra 0 or 2 added.
    I'd say $200 is only just entering leaving the lower atmosphere and would still have a long way to go before ''the moon''
     
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  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Gold backed crypto is of course in the works but gold is limited in supply as in the amount of gold mined annually is much lesser than silver. It was for this reason why historically silver was used as money and not gold. There are a billion ounces of silver mined each year, this could potentially be raised to maybe 1.5 billion ounces if the price of silver is much higher. If we assume that 500 million ounces goes into cryptos, and each ounce of silver is worth $100, then we’ll be looking at $50 billion of silver Cryptos created per year.

    While gold cryptos may exist but it maybe restricted unlike silver which is deemed as less threatening to central banks. It was recently revealed that China restricted imports of gold since May. India has been raising taxes on gold. It wasn't too long ago that gold was even banned in the US. Silver has never been banned or restricted in recent history.

    I might have sold most of my silver way before it reaches $200/ounce so it won't matter if it goes to the moon.
     
    Last edited: Aug 28, 2019
  18. alor

    alor Well-Known Member Silver Stacker

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    the fate of those silver backed bonds, there were the cheat of their past,
    so anything backed by etc are just derivatives
    now we have the bit bite etc, the current versions :)
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I'm not going to speculate what happens but some of the following might happen.

    1. Facebook's libra can launch a silver libra backed by silver stored by the libra consortium (VISA, Mastercard, Paypal, etc) in Switzerland.
    2. Central bank of Switzerland or Singapore can launch silver backed crypto backed by the Swiss and Singapore government.

    Of course, the same may also apply to gold.

    I've to point out that this is only my gut feel for the long term, but a lot could happen in the short term, including silver may drop back to $14 or $15. It's a game of patience.
     
    Last edited: Aug 28, 2019
  20. alor

    alor Well-Known Member Silver Stacker

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    its just like to received the payment of the shadow of the coin, after the beggar eat his own food with the food aroma coming out from the restaurant kitchen that blow his way
    this one is just like you can have the payment in the hologram mode, you can interact with it, but can not bring it with you... with the power of recording you can hit the replay button

     

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