why not, as jupiter mentioned, take profits on some? i bought with the intention of having X% of my investments in silver so as it has appreciated i've just sold off to balance.

Are you insinuating I'm not a multi-millionaire who has decided to speculate on PMs?

mwaha

I am assuming:

a. you are not ******ed (I can basically say that for sure)

b. you don't have $18 mil to redeem SLV and GLD, even at a high net worth, I would assume based on a. that this is 50% or less of your portfolio, leaving you with a theoretical portfolio close to $40 mil (but this does not account for c.)

c. you know that redeeming SLV and GLD shares to take delivery would mean you likely can't find the quantity of physical you want in a timely fashion or not, meaning you would be in an area where that amount of physical would be hard to get a hold of (much greater than 2.25 mil in silver and more than $15 mil in gold), making your theoretical portfolio closer to $250mil

d. judging from what little I do know about you and what I have insinuated from your posts over the last 2 or 3 years, you def. do not have $250mil+ in your portfolio

47.60 and skyrocketing while the us markets are closed on friday

it then shot down to 46.40, only to insta-rebound back to 47.60

heh, I didn't intend for you to reply like that. I was hoping the "mwaha" was enough of the sarcastic hint . I am definitely not rich enough and had I been, I wouldn't have hesitated to buy physical bullion over a year ago. Theres something psychological about literally buying half dozen gold/silver coins for over a $5k when you make < 100k/year.

It has shot from exactly 46.60 to 47.62 and back down to 46.60 (according to the site I use to track the silver price), back and forth at least four or five times today... no idea why

most of the exchanges are closed for Easter weekend, meaning we have ultra-low volume. Any trades are going to effect the price drastically. I expect it to go right back to the closing figure as soon as the big exchanges open Monday

Silver (as usual) has been a great sweat today. The graph of the last 6 hours is petty crazy.

Silver has always been hardcore version of gold. So with gold fluctuating quite a bit over the last year, silver might get a lot bigger dip than u think imho.

Right, but trying to time when that pullback will come if someone doesn't know what they're doing is just going to be a losing play if they believe we're in a legit bull market. Especially if they are buying to hold longer term anyway.

A trader on kitco confirmed a silver high of $48.04 today on the Globex market. He also guesses its going back down within minutes of the markets opening Monday.


On an aside, this chart is already ancient news. Pretty incredible. Why are people still buying equities?

Tulips,tech stocks, railways, go-go years, recent housing prices all spring to mind looking at that baby sky rocket off the chart.

I retort by suggesting that the correction is here, now, in the move upwards - true price discovery taking place here as silver gets rightfully re-valued after decades of manipulation. The 'short squeeze' is on.

This Time it's Different, no doubt.

Got pounded on my earlier ZSL investment obv but remain undeterred in trying to short silver again more seriously, probably once it passes $60 where it looks like its going in the current mania. Really not a fan of the short ETFs but the puts seem kind of expensive.

Love these words of wisdom from Buffet: "Look," he says, with his usual confident laugh. "You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?"

If gold drops, silver will follow. Really got to wonder how long cash-strapped governments will keep hoarding the gold at current prices.

Obviously it's due for a correction but I think the argument is pretty strong that it's largely the result of the increase in supply/decrease in demand of the dollar, and increase in investment demand in silver as a store of wealth. It's played this role historically, and clearly we are in the midst of a major paradigm shift. Slowing down the printing presses seems logically inconceivable at this point. That, or another, bigger, banking meltdown are the only two factors I could imagine that would reverse the trend.

Im thinking about taking out a £5k (going long) silver call option.

I have a few questions.

1-If you purchase a silver call option
a) When can you sell the contact on, at the last day only and what ever price it is then is the profit you take if it "is in the money". Or can you sell on if there is a large spike and you want to take your profit?

2-What is unit size for silver call options, can you buy a £10 silver call option or does it have to be in units of 1000's

3-Do you have to specifiy a strike price, what is a strike price.

4-Where is the best place in the UK to buy a going long silver call option?

Nope, sorry. This time it is the same as always - governments print money, precious metal prices go up, and the dow/gold ratio reaches a 1 to 1 parity. Happened in the early 1930's, 1980's, and is happening again now. EZ game

I think he ment different in the sense we didn't owe 14T dollars the other times. I think...

Because of the OCC you can sell whenever you want. Liquidity will be provided on both sides of the trade.

SLV call = right to buy 100 shares of SLV at your strike price at or before your expiry date.

Yes, the price which you will be able to buy or sell 100 shares is the strike price of the contract.
Your broker.

Why $60.00?

What will produce more value going forward and hold more value in the next 24 months, a cube of paper or a cube of gold.

I thought this was a silver thread. You not seeing a major difference in the two (at the very least topically) is a bad sign for your future performance attempting to short these things you don't really understand.

Cash strapped governments with the power of printing money, don't care what you say, and if government purchases ceased tomorrow the rally continues.

Why does gold drop significantly from here?

That's a strawman. Not saying you agree with him or anything, just commenting on buffet. He still doesn't realize gold's value is simply that it's a medium of exchange and store of value. It's price goes up when inflation is created just as those exxon mobils and farms do, because it's role in the economy is to reflect the purchasing power of real goods, services, production, companies, etc.

^^Agree with the purchasing power principle but strongly disagree that PMs have any exclusive domain as non-dollar stores of value and are actually very weak in holding a retention value in barter decision making. There is really no differerence between gold and bitcoins if the only requirement is to have something of a fixed supply that can't be artificially produced to such an extent that inflation necessarily occurs at some point. The store of value is wholly one sided. People accept it in exchange for things (purchasing power), so it has value. If people stop accepting it, look out below.

If you have 10 barrels of oil, 1 cow, and 1 oz of gold that you think you might trade for future goods and services, I'd say you are at far greater risk of being left holding the bag with the gold than with the cow or oil, which you can use for food or to heat your house. The retention value of gold when people stop accepting it is the same as a U.S. dollar bill or coin that may also become worthless through hyper-inflation. That is Buffett's point. A true store of value should have inherent value, not just a currency value. That's what gives it its value. The gold bulls to try make the exact same point when they lament that the U.S. dollar is no longer backed by 'real value' of gold, glossing over the fact that gold's value is almost all currency value. It's not that big of a stretch to compare it to some third world country's currency being backed by the U.S. dollar, if their government has U.S. foreign currency reserves. 'Our currency is good because it's backed by a stronger currency'!

Historically it was obviously difficult to store up your value in non-gold assets... barrels of oil, livestock, corn, cotton, whatever, but not so today.

You think there is not eventually a point where PMs get overvalued and someone ends up holding the bag? Whether that is now or 25% or more price appreciation from now is yet to be seen and is actually very difficult to guess, because of gold's (especially) lack of a retention value, but a Big Mac sure hasn't quadrupled or ten-tupled like gold and silver. Not in U.S. dollars and not in any major currency.

I just love how no one knows what going to happen. Sure it seems like it COULD be a bubble with its ridiculous swongs, but it still could be undervalued. I find it so intriguing how we know it still could be a bubble (lots of evidence to support it) but it could also go so much higher (lots of evidence to support it).

I originally bought silver at $11 and sold 25% of my holdings at $32 but it keeps going higher. Playing with profits now... I hope it goes up up and up!

good lord

SILVER FUTURE (USD/t oz.) 47.895 1.818 3.95% 23:30