Silver is on a tear right now.

[FreedomUIC]

Up .77 today and up over $1.50 over last week. I hate to see this, something that goes
up that fast usually comes back down in a hurry.

Wonder what is driving this for silver, gold isn't following along as usual.

Hmmmm..........

 

Amazon Forum Fav 👍

Minelab PRO-FIND 35 Waterproof Pinpointer Metal Detector for Experts with Tone ID & Adjustable Sensitivity - Grab it through Amazon!

[Mad Machinist]

This one is easy. There was an article in E&MJ recently that detailed the rise of silver. Basically since silver is a byproduct of mining other minerals, silver production is expected to decline as ore grades decline while demand for silver is expected to rise as it is used in many "renewable energy" technologies. I'll grab the magazine from work tomorrow and give the numbers it has.

On a side note, it is absolutely hilarious how the eco freaks fight mining yet mining is required in order to give them the world they want. Guess Foxworthy was right, "Ya just can't fix stupid".

 

[Marchas45]

Watch out for next week and Keep Stacking

 

[Mad Machinist]

As promised, except that I was able to access it online.

Engineering & Mining Journal - MAR 2016

 

[jim4silver]

Charlie you know I think very highly of you, but I disagree in part. I have most of my investment $$$ in silver. However, I think Bradley was right about all this. Anyone here who is an "old timer" will know what I am saying. I used to believe the online bullish pundits who run bullish PM sites but I think most of them are either just plain wrong or worse intentionally lying to sell something.

Thankfully, about 2 years ago I stopped "stacking" and started buying smart. Picking up when I could cheap but cool semi numis stuff locally. Now I have almost no generic bullion or stuff that is melt value only although I have lots of cool semi numis stuff that I bought at near melt value. I thought about selling it for profit and putting the proceeds into generic blobs of silver but decided not to. I have had to sell a few times to raise $$$ over the past year or so and was able to actually break even or make some $$$ even though the price of silver had dropped. If I had just bought regular old bullion I would have lost $$$ each time.

I think there will be a day when silver/gold go way way up in price but that time is not now. I think we will see another big drop before a big take off. The powers that be aren't that dumb and powerless to lose control of the PM market now.

PS Look at the commercial short positions in gold and silver - through the freakin' roof. They are the smart money and generally don't lose big like they would have to now if PM's take off.

Just my opinion.

Jim

 

[Marchas45]

LMAO jim you sure have changed your position. Good Luck. Keep Stacking your numi stuff if that's what you want but I'll stick to just plain silver. By the way, started buying smart good luck with that one, well at least your the only one that knows it. Climb down Jim or you may fall down. Keep Stacking

 

[jim4silver]

LMAO jim you sure have changed your position. Good Luck. Keep Stacking your numi stuff if that's what you want but I'll stick to just plain silver. By the way, started buying smart good luck with that one, well at least your the only one that knows it. Climb down Jim or you may fall down. Keep Stacking

I guess you took what I said wrong. I had to find a way to be able to satisfy my silver addiction and not lose my a$$ every time I had to sell some over the past few years. Due to zero percent interest I like to keep extra $$$ in the form of silver instead of a CD, etc. Over the years I found ways to get with a couple of local coin dealers that treat me like a fellow dealer and will sell to me instead of shipping off items they don't want to retail. Sometimes I get the stuff less than the wholesale price since they don't have to ship to sell to me and I pay right away.

Over the long haul I have acquired a good amount of Kooks, Koalas, Britannias (older ones), Libertads (better years on these), coins from China, and lots of other foreign modern bullion and commemoratives, all different years and countries, and got most of them for $3 to $5 over per oz on the popular Gov bullion/proof coins, and sometimes at melt or just above on sterling and other "odd ball" stuff the dealers didn't care about (these have been my best scores). Many of my coin dealers just want to flip stuff and don't try to ebay it so I grab it and "stack" this stuff when it's available. It takes time and effort but is great fun and has made my stash have built in equity in case silver drops more.

I don't have tons of cash rolling in and can't handle losing $$$ every time I sell like what happened when I had regular common bullion. We all really don't know when the next big lift off will happen. We could see $13 again? Better to hedge and this is how I hedge my PM "stack".

That is all I meant.


Jim

 

[Dman]

China is dumping their dollars and buying gold and silver. They have been doing this for the past month or so. I think that is why we are seeing silver go up in the short term.

 

[DaytonaRacer]

There's also this article: Biggest silver story of year? | Numismatic News

 

[Goose-0]

D-R, an excellent article. I've been following silver prices for over 30+ yrs. Yes, P M prices are controlled. Today (Fri-4-29-16, 10.45 AM CT) Gold is up $28 to $1295 and silver is up 35 cents to $17.93. My guess is that J P Morgan and other financial institutions will 'dump' silver on the market in a day or two to depress prices....... AGAIN.

 

[jim4silver]

D-R, an excellent article. I've been following silver prices for over 30+ yrs. Yes, P M prices are controlled. Today (Fri-4-29-16, 10.45 AM CT) Gold is up $28 to $1295 and silver is up 35 cents to $17.93. My guess is that J P Morgan and other financial institutions will 'dump' silver on the market in a day or two to depress prices....... AGAIN.

GOOSE-O,

I think you are right. It will be interesting to see today's COT numbers that come out around 3:00pm eastern time. I have seen this same situation over and over but I finally saw the light that most of the bullish PM site writers are wrong 99% of the time. Yet people believe them because they want to believe them and the bullish pundits preach to the choir so to speak. Look at certain sites you will see the same handful of "experts" and such being featured and they are almost never right in their calls, at least as far as I have seen following their predictions, but maybe I missed all their correct calls?

People think if/when there is a derivatives crash everyone will buy PMs, but when you look at what happened in 2008 silver dropped from 20 to 9 in no time along with the stock market. That same thing will happen again if we get another 2008. When PM's will rise is when they start inflating the $$$ to save it but that is not now and probably won't happen until after the next crash. The run up in silver in 2011 was in part due to QE and such. Until we get that again or a real dollar collapse PM's will keep being slammed at the appropriate times.

I am pretty much "all in" on silver but have been slowly changing the dynamics of my "stash" over the past 2 years so it will hold up even with $12 silver should we get there. Thankfully I was able to dump some of the remaining generic type junky stuff I had this week and got out even or a bit ahead due to the rising price. My remaining ASE rolls I paid $30 per ounce will sit in a vault until we get back to that price, probably when we are living like the Jetsons (cartoon).

PS NO matter what the bulls tell you DON'T go all in on PM's; diversify unless you can wait for a while or 100 years and don't have to sell any to cover bills, etc.

Just my opinion.

Jim

 

[TheCoinKid]

NO matter what the bulls tell you DON'T go all in on PM's; diversify unless you can wait for a while or 100 years and don't have to sell any to cover bills, etc.

With age comes wisdom. Great advice, Jim.

TCK

 

[Jason in Enid]

Oh I am so pissed right now! I placed a purchase order for 100 on April 1, right before this month-long climb in price. Today I got a letter from the company (NW Territorial Mint) that they filed for bankruptcy on Apr 1, and so they were returning my payment.

GRRRRRR! So damned frustrating. It's cost me a crap-load more to buy it now from someone else.

 

[smokeythecat]

I don't know squat about silver prices, but I did stay at a Holiday Inn a couple weeks ago. Hope you're all old enough to remember that commercial. I did buy a handful of readable Mercs for $1.10 each. Did I do ok?

 

[Marchas45]

Oh I am so pissed right now! I placed a purchase order for 100 on April 1, right before this month-long climb in price. Today I got a letter from the company (NW Territorial Mint) that they filed for bankruptcy on Apr 1, and so they were returning my payment.

GRRRRRR! So damned frustrating. It's cost me a crap-load more to buy it now from someone else.

Jason just be thankful that your getting your payment back. Keep Stacking

 

[Marchas45]

Manipulating and Fraud Ongoing.

Comex OI
By Turd Ferguson

Based off of the preliminary numbers for yesterday, The Banks have now added at least 50,000 contracts of gold OI in just the past two days. That's 10 freaking percent!...all to contain gold to just a $40 or 3.5% move to the upside.

And you simply MUST think of it this way...

The Criminal Fraudulent and Evil Banks just naked shorted over 5,000,000 ounces of gold in two freaking days! As discussed in yesterday's podcast, they were already carrying a GROSS short position of 356,553 contracts or 35.6 million ounces of gold. That's 1100 metric tonnes with a notional dollar value of about 46.3 BILLION DOLLARS!

And now, after two days of extreme additional shorting, they're likely GROSS short at least 400,000 contracts or 40,000,000 ounces. That's about 1250 metric tonnes worth about $52,000,000,000!

Looked at another way, in just two days, The Banks freshly shorted another 150 mts of "gold" worth $6B and they were able to do so all without ever putting up any additional collateral of physical gold.

#criminal #fraud and their running scared bigtime. Keep Stacking

 

[diggummup]

Crazy. There are 542 paper ounces of gold for every 1 ounce of physical. How can they expect this not to fail?
Comex "Gold" Leverage Skyrockets to a SHOCKING 542:1! | Silver Doctors

 

[jim4silver]

Crazy. There are 542 paper ounces of gold for every 1 ounce of physical. How can they expect this not to fail?
Comex "Gold" Leverage Skyrockets to a SHOCKING 542:1! | Silver Doctors

Here's how it works. There has so far always been enough physical to deliver with because not many demand delivery via Comex. There are far easier ways to buy large amounts of silver than going through the Comex market. The Comex market is more for speculators who want to trade paper generally speaking. However, if a short was unable to deliver on a Comex contract and had to settle in cash, that is permitted in the rules, but it would be a technical "default". So far that has NEVER happened. However, the pro PM pundits have been predicting for YEARS that a short on Comex would be unable to deliver silver but it has NEVER happened yet.

There is more silver out there than what you are led to believe. I am sorry but it is the truth. Now if every breathing human on earth decided to buy just a couple of ounces a shortage would happen really fast, but so far nobody gives a $h!t about silver except silver bugs (like me), and there aren't many of us out there relative to the rest of society.

Just my opinion.

Jim

 

[Marchas45]

We are talking about bloody gold not silver. Keep Stacking

 

[jim4silver]

We are talking about bloody gold not silver. Keep Stacking

I know that Charlie. But they used the same line for silver over and over in the past and it never defaulted. Neither will gold, although I don't follow that market like silver so I can only use silver as an example.

It seems to me there always has to be a story of the day to catch everyone's attention these types of pundits yap about. Follow all the "stories" over the past few years, how many of them came to pass?

Maybe this time is different?

Jim