$71.00 silver

Shaddam IV

Shaddam IV

Well-Known Member
Silver Stacker
Silver currently at a record $71.08 AUD as I post this according the ABC Bullion charts (and fine charts they are). Another weekend record!
 
I like the chart layout and the page overall, it is well maintained and has more information that the Kitco sketch charts here. I especially like seeing the multi-year trend that the chart covers.

AAKAA.png
 
Gold: $3,801.88 Silver: $47.13 USD
Gold: $5,787.52 Silver: $71.72 AUD

I think I'll stop buying and selling silver for now. It's getting too expensive to purchase an ounce. I remembered dealers only charge around $5 over spot during 2011-2012 now most are $10 over spot :(
 
The way that the silver price is behaving so far today even before Europe and US is open leads me to believe that $50 US will be taken out this week.

The only question in my mind is will it be tonight or tomorrow?

Or the cartel might try one last time to stem the momentum with a large paper contacts dump?
In which case it might be later in the week when the $50 will be breached.
 
Mr Hard Case said:
The way that the silver price is behaving so far today even before Europe and US is open leads me to believe that $50 US will be taken out this week.

The only question in my mind is will it be tonight or tomorrow?

Or the cartel might try one last time to stem the momentum with a large paper contacts dump?
In which case it might be later in the week when the $50 will be breached.
Click to expand...

I'd rather not see a jump like that in a day or two. I would much rather see it climb there over a week or two. Systems are less stable when things spike too fast.
 
Shaddam IV said:
I'd rather not see a jump like that in a day or two. I would much rather see it climb there over a week or two. Systems are less stable when things spike too fast.
Click to expand...

Well, we are already at US$47, my dear Watson.

We only need to go up another $3 to take out US$50!

Its elementary.

On resent momentum, I would hardly call 6% increase over a couple of days a large jump.

But hey, that's just me being a hardcore hardcase.;)
 
$50 first...
Then $65,
Then $80.

After this point, its going to depend on exactly what country and industry is willing to "secure future needs" at a perceived premium, for whats "left".
More of a "wealth transfer" of metal at that stage, if the known resources are ALL ata crossroads of potential to impact the production of the goods, services or promises for them.

..vs funding mining and stockpiling additional copper, lead and zinc straight up, of course, because ramp up from primary silver mines and developing new ones takes a long time.
 
Personally, I too would preferer if we had a pause and consolidation at these price levels, a bit like gold had at around the $5k mark.

Because as previous parabolic highs have shows us, something that goes up that quickly can come down just as fast.

But, like many other members, I have a feeling this time it is different and that silver will continue upwards towards triple digit's with only token resistance.

The current price momentum is (I believe) driven by some elites at the top of the money pyramid who have deep pockets and not by the general public.

Once Joe Sixpack and Ma & Pa Public wake up to what's going on there will be a mad scramble to secure what little physical is available and prices will
skyrocket even further.

Another sleep interrupted night coming up for some of us:eek:
 
Mr Hard Case said:
Once Joe Sixpack and Ma & Pa Public wake up to what's going on there will be a mad scramble to secure what little physical is available and prices will
skyrocket even further.

Another sleep interrupted night coming up for some of us:eek:
Click to expand...
This doesn’t send the price of silver up, what it does do is send premiums up due to not enough stock to go around as fast as required .We saw this happening to gold back in 2019/20 where normal premiums were anywhere from.5% to 1% skyrocketed to above 7%. So I can imagine how stupid premiums will go up for silver seeing it’s always has had high premiums.
It wouldn’t surprise me if silver premiums skyrocket to 50%
 
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betterinvestmentthanshare said:
This doesn’t send the price of silver up, what it does do is send premiums up due to not enough stock to go around as fast as required .We saw this happening to gold back in 2019/20 where normal premiums were anywhere from.5% to 1% skyrocketed to above 7%. So I can imagine how stupid premiums will go up for silver seeing it’s always has had high premiums.
It wouldn’t surprise me if silver premiums skyrocket to 50%
Click to expand...

You are splitting hairs there @betterinvestment, of course it will send the prices up higher, whether it is through higher premiums because the paper casino is still operating, or whether it will be through true price discovery because the Comex paper casino has burned to the ground is irrelevant.
The prices will be much higher.

There is still less than 1% of the population who are silver investors, wait till we get 5% then we will see fireworks.
 
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