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Just perusing the huge premiums on physical silver tells you everything you need to know about the market. The SLV prospectus change was also very illuminating, covering themselves by conceding they in all likelihood won't be able source the physical to back the inflows thus investors will be cash settled, that's why I'll only touch PSLV. I'd like to stack physical silver but the premiums are ridiculous now plus there's VAT if one takes delivery.
FRES SP today is deeply frustrating, I am genuinely surprised even though I'm as cynical as **** when it comes to MMs and algos monkey hammering FRES down. Cable strengthening really hasn't helped FRES this year as well, GBP has been on quite a run in 2021.
https://www.adamseconomics.com/post/the-silver-market-fast-approaches-breaking-point
An interesting read indeed Dark_Knight. Silver is the only commodity to not be above its 1980 nominal peak. Quite extraordinary when you think about it and how much the money supply has increased in that time, how much inflation there has been. For instance, your 1980 $50 ounce of silver could buy you 14 '6 packs' of beer while your 2021 $26 ounce of silver can buy you 3. Something doesn't quite stack up here.
i lost alot on this when sank from 1300p because of my greed closed my hedge positions and it still dived lol Back in today with a play that i think will deliver 10/20% over the next few weeks
simply wallstreet says this undervalued by 35%
just the commodities cycle. Look at ANTO AAL BHP etc all low pre covid and then 2x 3x 4x baggers. FRES is different but any share that can go up 20%+ on a day is worth a few quid.
A new beatitude
Blessed are the millennials for they shall inherit only stocks that rise.
plus pre covid this was at 720p and Gold was as at todays price so sense of overvalued maybe
It wont be as much in £ as the exchange rate has strengthened to about $1.40 = £1 so 23.5c = 16.75p but better than nothing
Investors moving from Gold to Bitcoin, millenium style of investing at moment
assume can be offset for UK holders to avoid double taxation. It will be sorted out on your Self assessment.
"23.5c suject to withholding tax possibly" - I think it will be taxed definitely - no "possibly" about it. sorry.
DK I just read that link you posted regarding Comex and LMBA and how they’ve created fake silver on paper it’s just outrageous and that article just opens your eyes to what fiddling goes on.
Good article though.
fres. Regarding crimex, have a look at the article I posted.
I was geared up to trade this today but the action is elsewhere. Still I will rely on alerts.
Looks like retail, grocers & telecoms and reopening instead. Onwards and upwards.
I was geared up to trade this today but the action is elsewhere. Still I will rely on alerts.
Looks like retail, grocers & telecoms and reopening instead. Onwards and upwards.
You're referring to silver shorts or FRES shorts (or both)?
Well worth a read. Fascinating
https://www.adamseconomics.com/post/the-silver-market-fast-approaches-breaking-point
I agree the shorts closing for sure. Silver will not stay at these prices for long. I will post an excellent link I found on twitter which is well worth a read. It will tell you why silver won't stay at these prices and I think Marshalls who have short position know.
Holding price down to allow shorts to close and then all the way to 1400? You ain't getting mine for less than that. Average cost 580p.
Wow, just wow. Sub 900p after those sterling results, yes PMs are subdued at the moment as 10-year yield tick up but that can change overnight.
Up 10p down 10p
geez let's see up or down 10% for proper action.
hmmmph. I give up.
23.5c suject to withholding tax possibly
Fantastic results, when is the next DIVI and how much they’re paying?
MM make your mind up.