The retailers see this coming as well because of the demand. Premiums I'm seeing are $4.50 to $8.50 over spot for smaller weights, as much as $4/oz over spot for heavy bars. CRAZY high.
Agreed, even if not a near term event, I'm holding what I have, I have been following the silver market for over 10 years, and when I went to buy some mid January and they had 10 oz, I went online and bought some. Bought some more 2 weeks ago when a potential squeeze was announced, and moved some money from 401k to an ira I have (Not all 401ks allow this, most funds available in 401ks are tied to SLV or GLD) so I moved what I could to pslv, not in hand but not paper either, and it may start trading with a premium because of shortage. Never seen such premiums on purchase, spent 1.50 over spot ten years ago, paid about 5 over before the squeeze was announced.
Lots of talk about ratios, but isn't there some added value for gold due to its mailability? Its also used in electronics, or at least it was back in the 80s. An oz of gold cand be spread of a larger area than silver.
Personally, I think the whole silver thing is larp. Don’t really wanna explain why but if you know in my opinion you know same with gold took profit at recent highs I think the only place from here is down for awhile.
Hardly a larp, I've seen premiums on many products surge over the last few weeks on all sorts of products. Does no good if you can only buy silver at 5+ dollars of premium over spot. American Silver Eagles are well into 10+ dollar premiums. Does no good to point at the paper market when the physical market is clearly being squeezed right now.
Silver eagles have always had huge premiums...!? Lmaooo...just lol if you even think about buying silver eagles just reinforces my point try looking at investor quantities and not doomsday prepper and weird old people coin collecting variants not to mention 5$ premium is not that bad depending on mint and quantity. How exactly do you think dealers make a profit again...!? Hence why I say it’s a larp and if you know you know. Sold some silver when it hit 30 and made a 60% return in around 1 year even and paid 5$ premiums on 9fine mint mark bars.
I paid 1.50 over spot 10 years ago, Eric Sprott just bought a 30 Million in the PSLV fund. I would go on, but you obviously did not read the link, so SELL, SELL, SELL! It won't be hard right now.
“10 years ago” becuase things don’t change I guess like the strength or weakness of the currency used to purchase said asset. As I would expect you to know that is not uncommon most funds specifically retirment funds and 401ks or even hedge funds have certain allocations in their portfolio almost all of them include paper silver mostly retirment and 401k accounts for obvious reasons and hedges funds usually paper or pslv too. Waiting to buy, I don’t try an catch falling knives I wait for them to drop and then I pick them up I’d be buying rn at the price I sold months ago would be stupid especially if it dropped would be dollar cost averaging down to save my ass and make any money or I’d be bag holding for a long time like a fool.
You are contradicting yourself. The USD had trillions pumped out last year, and trillions more about to flood the economy. These are inflation levels unheard of in the US market. Would not therefore the price of physical silver at least maintain its price relative to the USD, being a fixed value asset?
I am in fact not contradicting myself the USD is also not a fixed value asset if it changes value and finally the people who bought previously with a stronger dollar who have seen profit from price rising in my opinion are now selling that supply will offset a rise in price caused by inflation because by profit taking the money they’re making is currently offsetting the inflation we are currently experiencing. I honestly think you’re grasping at straws to justify your own ineptitude and this point which is beyond clear to me.
"...my opinion are now selling that supply..."
Where is the proof that people are selling or are soon selling this supply of silver? COMEX is fairly clearly showing that people are buying more than selling, otherwise there would not be this talk of a squeeze going on. You are asserting opinions of what you think people are going to do. What we see right now tells a very different story.
The World is moving back to precious metals backed currencies. The days of fiat currencies, to include crypto’s, are coming to an end. Ask yourself why CBs around the world have been buying gold hand over fist. Our debt based economies are being flipped to asset based. We are entering a new paradigm and I for one am glad to be alive.
The retailers see this coming as well because of the demand. Premiums I'm seeing are $4.50 to $8.50 over spot for smaller weights, as much as $4/oz over spot for heavy bars. CRAZY high.
Agreed, even if not a near term event, I'm holding what I have, I have been following the silver market for over 10 years, and when I went to buy some mid January and they had 10 oz, I went online and bought some. Bought some more 2 weeks ago when a potential squeeze was announced, and moved some money from 401k to an ira I have (Not all 401ks allow this, most funds available in 401ks are tied to SLV or GLD) so I moved what I could to pslv, not in hand but not paper either, and it may start trading with a premium because of shortage. Never seen such premiums on purchase, spent 1.50 over spot ten years ago, paid about 5 over before the squeeze was announced.
Lots of talk about ratios, but isn't there some added value for gold due to its mailability? Its also used in electronics, or at least it was back in the 80s. An oz of gold cand be spread of a larger area than silver.
Commenting to read later.
Personally, I think the whole silver thing is larp. Don’t really wanna explain why but if you know in my opinion you know same with gold took profit at recent highs I think the only place from here is down for awhile.
Hardly a larp, I've seen premiums on many products surge over the last few weeks on all sorts of products. Does no good if you can only buy silver at 5+ dollars of premium over spot. American Silver Eagles are well into 10+ dollar premiums. Does no good to point at the paper market when the physical market is clearly being squeezed right now.
Silver eagles have always had huge premiums...!? Lmaooo...just lol if you even think about buying silver eagles just reinforces my point try looking at investor quantities and not doomsday prepper and weird old people coin collecting variants not to mention 5$ premium is not that bad depending on mint and quantity. How exactly do you think dealers make a profit again...!? Hence why I say it’s a larp and if you know you know. Sold some silver when it hit 30 and made a 60% return in around 1 year even and paid 5$ premiums on 9fine mint mark bars.
I paid 1.50 over spot 10 years ago, Eric Sprott just bought a 30 Million in the PSLV fund. I would go on, but you obviously did not read the link, so SELL, SELL, SELL! It won't be hard right now.
“10 years ago” becuase things don’t change I guess like the strength or weakness of the currency used to purchase said asset. As I would expect you to know that is not uncommon most funds specifically retirment funds and 401ks or even hedge funds have certain allocations in their portfolio almost all of them include paper silver mostly retirment and 401k accounts for obvious reasons and hedges funds usually paper or pslv too. Waiting to buy, I don’t try an catch falling knives I wait for them to drop and then I pick them up I’d be buying rn at the price I sold months ago would be stupid especially if it dropped would be dollar cost averaging down to save my ass and make any money or I’d be bag holding for a long time like a fool.
You are contradicting yourself. The USD had trillions pumped out last year, and trillions more about to flood the economy. These are inflation levels unheard of in the US market. Would not therefore the price of physical silver at least maintain its price relative to the USD, being a fixed value asset?
I am in fact not contradicting myself the USD is also not a fixed value asset if it changes value and finally the people who bought previously with a stronger dollar who have seen profit from price rising in my opinion are now selling that supply will offset a rise in price caused by inflation because by profit taking the money they’re making is currently offsetting the inflation we are currently experiencing. I honestly think you’re grasping at straws to justify your own ineptitude and this point which is beyond clear to me.
"...my opinion are now selling that supply..." Where is the proof that people are selling or are soon selling this supply of silver? COMEX is fairly clearly showing that people are buying more than selling, otherwise there would not be this talk of a squeeze going on. You are asserting opinions of what you think people are going to do. What we see right now tells a very different story.
The World is moving back to precious metals backed currencies. The days of fiat currencies, to include crypto’s, are coming to an end. Ask yourself why CBs around the world have been buying gold hand over fist. Our debt based economies are being flipped to asset based. We are entering a new paradigm and I for one am glad to be alive.