Storrsy
Well-known member
Which is a shame because had just the job for it lately
V8Druid
do it as well as you can,but learn to do it better
get 'em stripping ... massively increases the value when cashing it in (and an easier proposition to store) ... good dark night's bonfire for losing the residue
.... can't see copper ever dropping much either - demand only ever climbs
S
Stroppymonkey
Well-known member
It does go up and down somewhat, but the bottom is still quite a big high generallyget 'em stripping ... massively increases the value when cashing it in (and an easier proposition to store) ... good dark night's bonfire for losing the residue
K
kato512
Well-known member
Clean copper is near 9k a tonne at the minute!
S
Stroppymonkey
Well-known member
Cleared out a couple ton last year …. Sod’s Law !
B
bobthebuilder
Well-known member
Copper is only heading one way for a while ,up
TiltyShaun
Well-known member
Some major swings on both the Dow, gold and most of all silver last night after Trumps pick for the new bank boss.
I didn’t trade the Dow last night but this week there has been some very spikey moves.
There would have been a lot of burnt fingers on the silver drop.
We have our gold investment from 2020 which I was asked on Wednesday if we planned on selling. My answer was no. What is misunderstood about gold is the long term hedge that it offers. When things really go to sh!t. Gold goes up. Silver the last year is as much about speculation. Cheaper to trade. But when gold falls, silver drops more!!
I didn’t trade the Dow last night but this week there has been some very spikey moves.
There would have been a lot of burnt fingers on the silver drop.
We have our gold investment from 2020 which I was asked on Wednesday if we planned on selling. My answer was no. What is misunderstood about gold is the long term hedge that it offers. When things really go to sh!t. Gold goes up. Silver the last year is as much about speculation. Cheaper to trade. But when gold falls, silver drops more!!
J
Jimoz
Well-known member
How did silver finish up did it recover? I see it was near 30% down at one point. I think bitcoin is getting hammered too? I think the trump pick for fed has gone down well.
J
Jimoz
Well-known member
Why is stainless so crap nowadays? At one point I was getting close to lead price, now its about half.
doobin
Well-known member
Mental moves in the market yesterday. Gold down 12%, silver 33% at one brief point. Finished at 8% and 18%. However.... both metals are still up on the month-, 11% and 16% respectively. Two years ago we'd have been preparing for WW3 if they'd gone up by that- how the Overton window has shifted. MEtals have been trading like crypto.
End of the month for Comex, a big bank being forced to liquidate it's positions, a last desperate attempt to supress the price, the conspiracy theories are endless. $3690bn off Microsoft market cap due to results being off by 4% has led to some huge moves also- liquid assets like gold and silver would have been the first to be shifted to cover margin calls. Add to that a wildcard Fed nomination and it was a mental day. At one point I did start considering whether this was the next 'big one'
Obviously I'm a stacker, not an invester. However there is an interesting play if you have both gold and silver ETFs. The gold:silver ratio has just shifted from 46:1 to 58:1! So you can sell your gold ETF and buy silver. You basically get free ounces of silver- if the ratio drops back down and looks to bottom out, go the other way. No money needed but when you think of your ETF in terms of oz of metal, it grows. This way you can trade on the volatility in your ISA.
I will be up most of Sunday night watching the Asian markets with interest. These 'smackdowns' in the price of metals never happen unless the US market is open. I think we are really seeing a divergence between physical and paper markets for metals here- and with them being traded at ratios of 300-400:1 paper
hysical this will accelerate.
doobin
Well-known member
The last month, certainly. But the last year is about physical shortages IMHO. Comex inventory is running dry- read the figures on how many contracts are standing for delivery. Silver has been in backwardation for at least six months- people are paying a premium to get their hands on the physical metal.
Gold to silver price ratio 58:1 currently, and it's been as high as 85:1 in the last year. Actual physical gold:silver ratio (mined & proven reserves) is more like 1:7- and it's being consumed all the time (and at all time highs) in industrial processes.
doobin
Well-known member
Exactly.
My average cost for gold is ÂŁ1800/oz and silver ÂŁ27. All physical.
Purchasing power preserved and a lottery ticket into the bargain with silver.
D
DaveDCB
Well-known member
Whoever went all in at ÂŁ4000 is going to be hurting a little!
J
Jimoz
Well-known member
Whats the super long term plan like 20 years keep stacking and never sell?
TiltyShaun
Well-known member
Hide it in a piano.
Shropshire piano gold coin hoard declared treasure
The coins were found hidden in a piano and will be offered for sale to museums.
www.bbc.co.uk
doobin
Well-known member
It’s insurance first and foremost for a disaster. It’s an emergency fund that keeps pace with inflation over time. If ever the gold : property ratio is especially attractive then it could be used to fund an upgrade. If it’s never used then it’s an easy thing to pass on to kids without the government knowing.
TiltyShaun
Well-known member
Going to be an interesting day on the markets. Pre market trading as ALL the markets and commodities dropping.
Gold below $4500
Silver below $74
Gold below $4500
Silver below $74
doobin
Well-known member
Yup, still wondering if this is automated forced selling of positions.
This is how the next financial crisis will start- margin calls on leveraged positions lead to forced selling of easily liquid assets first, which leads to falling prices, more margin calls and a cascade effect. COMEX has raised the margins on PM positions to unheard of levels, for I think the fourth straight month in a row. Derivatives caused the 2008 panic, they will cause this one too. As Buffet said- rat poison squared.
Anyone hoping to pick up actual silver or gold today will be disappointed. All the online dealers have suspended trading. There is a ÂŁ5 spread on silver on BullionVault. Nobody is offering physical for sale on any marketplace at anything close to the current spot rate.
As I said in my first post in this thread, paper and physical metals are not the same thing.
Giles
Well-known member
Is silver still down 31%? Or rallied?
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