Silver short squeeze WE PUMPIN OVER HERE GET ON BOARD

Akesh

You aren't seeing a short squeeze on Silver. I'm always skeptical when hedge funds promote something and then the media and analysts all start talking about it. People believing there is a silver squeeze drove up the price and now we are seeing it back in and around where it was.

I think Silver is slightly undervalued but I would be waiting until it's back @ ~$18/oz before jumping in.

OTG

The upward pressure in silver price is going to come from physical pressure. Every oz that's taken off the market will force the retailer, wholesaler, manufacturer to hedge with the COMEX. The US retailers were forced to halt sales on Sunday due to being caught sub hedged by the unprecedented weekend supply when the paper market was closed (Fri-Sunday night). Imagine you're a retailer with 20,000 oz in stock, you're ave weekend sales are 5,000 oz. Last weekend happens and you've made 20,000 in sales. You wake up on Monday, you've sold all your stock and the resupply price has gone up with the wholesaler 10%. You've only hedged 1/4 of your stock so your resupply costs are going to cost you big.
Look at what happened spot went from 27 to 30 dollars and on Tuesday dropped back to sub 27. Compare this to what happened in a coin shop. Sunday afternoon when spot was 27 you could buy a coin for 33.10. During the Sunday spike, spot hit 30 and the coin hit 41 dollars. Then Tuesday when the Spot price hit 27 again the coin price went back to 37.85dollars.

As you can see the physical price and the spot price have diverged due to a physical supply issue. Eventually the limited supply of invest-able physical silver will get drawn down to a level where the big manufacturers (solar/electronics....) seek to secure their supply at a reasonable price. Maybe even a sovereign or 2 gets involved . This could gather pace with every surge in spot and slam down. Over 2bn oz of silver were traded on the COMEX yesterday (2x yearly production), a record to move the price back down $3, next weekend it may take 4bn. It's a delivery month so bars are leaving the COMEX every day. What happens when they opt to settle only in Cash, Increase Margin Requirements,Ban buying like they did to the Hunt Brothers. It's not a hedge for silver any more as it's unobtainable at this price. The Silver market will then move to a cash market and true price discovery will occur for the first time in 150 years.

Hold on with Diamond Hands

An Ri rua

6 wrote: »

Were specific silver mining stocks called out though? People are buying silver, even physical..

Not sure the same people organized this one. Citadel the hedge fund are loving this silver surge, they are making hand over fist on it. Probably covering their GME losses comfortably.

And that's why it's being framed on various fora as a honey trap for Redditors to take pressure off GME. Kitco have a video about this.

OTG

Bobeagleburger

An Ri rua wrote: »

And that's why it's being framed on various fora as a honey trap for Redditors to take pressure off GME. Kitco have a video about this.

I wouldnt touch Silver tbh. It's a bubble and will fall considerably. Rinse and repeat.

An Ri rua

6 wrote: »

I wouldnt touch Silver tbh. It's a bubble and will fall considerably. Rinse and repeat.

Silver is going nowhere except up up up over 2021 and beyond. Money is never a bubble. It's everything else that is losing value. Your perspective is, along with the masses, 100% wrong and the year end will prove that out.
For now, with this transient interest, anyone trading could lose their shirt. But anyone buying and holding (I'm stacking coins and antique silver since 2009 and now digital allocated silver) will come up trumps in a big way. For so many reasons. Fear, industrial long-term demand re green deal, industrial short term demand (outflow of physical), and the unwinding of manipulation. Possibly by those who instigated it.

I regurgitate the news

Akesh wrote: »

I think Silver is slightly undervalued but I would be waiting until it's back @ ~$18/oz before jumping in.

$50 USD in 1980 for the second most used commodity after oil.

It is incredibly undervalued. The problem is the manipulation.

OTG

“Houston, we have a Problem”: 85% of Silver in London already held by ETFs.

http://https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-85-of-silver-in-london-already-held-by-etfs/

OTG

The Cat’s out of the Bag ......Ted Butler

http://https://silverseek.com/article/cats-out-bag

OTG

Bad link
https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-85-of-silver-in-london-already-held-by-etfs/

OTG wrote: »

“Houston, we have a Problem”: 85% of Silver in London already held by ETFs.

http://https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-85-of-silver-in-london-already-held-by-etfs/

OTG

Bad Link

https://silverseek.com/article/cats-out-bag

OTG wrote: »

The Cat’s out of the Bag ......Ted Butler

http://https://silverseek.com/article/cats-out-bag

Craig_David

Silver looking very strong the past couple of weeks. Hopeful of it breaking 30 in the coming weeks
The Reddit SilverSqueeze crowd seems to be growing larger by the day.

An Ri rua

Craig_David wrote: »

Silver looking very strong the past couple of weeks. Hopeful of it breaking 30 in the coming weeks
The Reddit SilverSqueeze crowd seems to be growing larger by the day.

Can you fill me in?