Silver

[Nowler]

Hey folks!

What's the craic with silver?
Anyone know much about it?

Worth buying if you can afford gold?

 

[Nowler]

No silver traders/investors?

 

[new_trader]

No silver traders/investors?

I expect you won’t hear anyone in this forum admit to owning silver until it is ‘safe’ to do so, probably sometime when it is well over USD50. Silver is both a monetary and industrial metal, and there is a debate over whether there will be deflation first.

I currently own over 2300 oz. of physical silver. I am not disclosing whether I am buying more, selling or holding.

 

[Nowler]

I expect you won’t hear anyone in this forum admit to owning silver until it is ‘safe’ to do so, probably sometime when it is well over USD50. Silver is both a monetary and industrial metal, and there is a debate over whether there will be deflation first.

I currently own over 2300 oz. of physical silver. I am not disclosing whether I am buying more, selling or holding.

I'm beginning to turn my focus to silver now. Gold is too expensive for me but Silver seems to be at an attractive price for someone willing to hold/accumulate for the next 18 months or so.

Granted, deflation isnt good for holding silver, but it is however good for accumulating more of it - if the long term direction is positive, obviously.

I am holding a very small spreadbetting position in it currently and will act accordingly. I tend to learn better when I am making/losing money.

 

[Nowler]

I have a 3 part question...

1) Where would be the best place to buy physical silver if living in the UK?

2) Same question again, but when living in Ireland.

3) What problems might I run into if I was to buy physical silver? With the intent to sell it again later down the line.

 

[Chad Seven]

I have around 50oz of silver I bought via www.coininvest.com a few years back. I don't know how they compare to other dealers but I can't fault them.

If you are looking to hold for 18 months would your goals not be better satisfied with an ETF?

 

[Nowler]

I have around 50oz of silver I bought via www.coininvest.com a few years back. I don't know how they compare to other dealers but I can't fault them.

If you are looking to hold for 18 months would your goals not be better satisfied with an ETF?

Potentially, yeah.
I'm just curious

 

[bluebellmk]

I have Silver Bullion and coins ... bought from bullionbypost

 

[Nowler]

It is a good time to invest in silver for long term investors. It is much more affordable for the average investor.

A few weeks ago would have been better, but it's still got some value, yes.
I see $24.50 in the near future.
I have my position in it, and will look to trade a small bit of that position - buying it back for cheaper

 

[Nowler]

It will be interesting to see what happens after price hit that major resistance.
A lot of take profit orders must have been hit there.
Mine was anyway, then I bought it back mid way and 3/4 way down the decline

 

[Nowler]

Silver has been performing like a Rock-star!!
I don't want it to end!!

A test of the major structure around the 26 handle perhaps? Turning major resistance into major support...
Then break through 30.00 where I will be waiting around 33 to take more profits.


I am definitely due some pain though... because my profit-taking and buy-backs have been great!
Can't have it all your own way.

 

[peto]

For a more leveraged play there's Hochschild Mining, HOC:LSE. Moved from mainly silver to about 50:50 silver and gold. Long established well run company with plenty of reserves. My main long term holding for a while now, been a very bumpy ride recently though.

 

[Nowler]

For a more leveraged play there's Hochschild Mining, HOC:LSE. Moved from mainly silver to about 50:50 silver and gold. Long established well run company with plenty of reserves. My main long term holding for a while now, been a very bumpy ride recently though.

Have you looked at Wheaton Precious Metals?

 

[Nowler]

There we go
That sort of a correction was bound to happen with the phenomenal rally over the past month.

I still not selling though.
I have bought more at lower levels as I am happy to hold this trade for the rest of the year and onward

 

[Nowler]

I know I said I am happy to hold for beyond a year... but I just wish something would happen 🤪
I'm accruing charges for holding it while it goes nowhere, and I don't like it, lol

 

[Nowler]

I hope everyone was holding on to their underpants today 😂

 

[Nowler]

So what were you all doing last week with your gold/silver positions?

Selling?
Holding?
Buying?

I bought a little more of each

 

[Nowler]

UPDATE:
I'm still sitting pretty with my Silver.

I bought more when it went back down to $22

 

[TWI]

I think precious will hold around here. The strong dollar is the main headwind now but this complex certainly offers the hedge against the largely held reflation > inflation belief. I favour platinum actually as think it has the most favourable supply/demand but I sit with gold, silver and platinum for now. The inflows into SLV & AG by retail was unlikely to be large enough to corner the silver market and I think most of the upside was money front running that buying and then many got out when they saw that the break was not sustained, bringing us right back down. The overall narrative remains supportive however so I see a reason to have an allocation.

 

[Nowler]

I think precious will hold around here. The strong dollar is the main headwind now but this complex certainly offers the hedge against the largely held reflation > inflation belief. I favour platinum actually as think it has the most favourable supply/demand but I sit with gold, silver and platinum for now. The inflows into SLV & AG by retail was unlikely to be large enough to corner the silver market and I think most of the upside was money front running that buying and then many got out when they saw that the break was not sustained, bringing us right back down. The overall narrative remains supportive however so I see a reason to have an allocation.

Yeah, I like Platinum too, and Copper.
I expect platinum and silver to be my best performers.

Happy to hold for the next year and beyond if required - the fundamentals are just too strong to consider anything other than buy or hold at the moment