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

heartastack said:
Whatupppp
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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
 
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.
 
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.
 
sammysilver said:
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.
Click to expand...

FOMO will kick in the next few months and supply will be tested.
 
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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.
 
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.
 
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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!
 
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