Comex Silver Hits $26

87
Mon, Jul 27, 2020 - 11:03pm

Another significant milestone has been reached.

First, it was Comex gold that filled the gap back to April 2013. Then it was GDX. We knew that GDXJ would come next and then the only hurdle would be Comex silver. As of tonight, it has finally happened....Comex Digital Silver got back above $26.

More tomorrow,

TF

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Jenni4jlssRickshawETF
Jul 28, 2020 - 1:41pm

Well articulated

you just made my day with this post.

Gasivs Buttox
Jul 28, 2020 - 12:41pm

The US 10yr has again fallen below .60

down about 2.5%. Just sayin'

RickshawETF
Jul 28, 2020 - 12:03pm

The Value of Silver

It's unknown, and unknowable. It's been manipulated/suppressed for so long, there has been no real price discovery to ascertain its true value . . .

Was $50 the real worth of silver in 1980? With the Hunt Brothers trying to corner the market, perhaps that "price" was a false signal. Was $50 in 2011 the real value? Without free and fair markets, we'll never know.

Even in 2020's ascent towards some semblance of real value, we can't know what that real value should be. $100? $200? $500? $600? $1,000? We all know the definition of value -- two individuals agree on a price between themselves for a sale, multiplied by everyone in the marketplace freely exchanging fiat for metal.

Is silver at $24 or $26 indicative of anything in today's market? All we can know for certain is that the price of silver today is closer to its real value than it was a month ago. It's kind of like the road to enlightenment - it's impossible to know if you're five steps into the journey, or just about to arrive . . .

If I see silver move its way through $26, $30, or $35, my "spidey senses" tell me that the indicators, rather than ephemeral milestones in price, will be daily jumps that indicate acceleration toward some "real" value. I will take note when silver has its first $5 up day, and most certainly when it has its first $10 up day.

We are among a select (and very small!) group of individuals who realize the incredibly large gap between "price" and "value" in silver today. The rest of the world will come to realize that gap over time, but only when it begins to close, and they will miss most of the action.

It's ironic that the human psyche ignores things "on sale" when it comes to investing, but get interested as prices rise to ridiculous levels (TSLA, anyone?). We here at TFMR will discuss and decide (individually) when silver has reached that "fair value" (and beyond!), and act accordingly. But it will be a measured and logical response, based on individual goals -- not a kneejerk reaction to sentiment and greed.

What is that "true value" for silver? In the [paraphrased] words of Supreme Court Justice Potter Stewart, "I may not be able to define it, but I'll know it when I see it."

Stretch67TF
Jul 28, 2020 - 11:57am
pcuni59
Jul 28, 2020 - 11:51am

Silver premiums are insane

So until further I only buy gold, where I can get bullion 3% over spot. In any case, if things go as we believe it doesn't matter what the premium is. As Mark Møbius says: "Buy gold at any price!"

uni59
Jul 28, 2020 - 11:25am

Sorry but I don't have that kind of cash laying around

One contract is 5000 ounces. At $25/ oz that's 125,000.

Scottsdale Mint stopped making the TFMR rounds due to low demand. Maybe I'll reach out to Josh next week to see if he's interested in restarting production.

AGXIIKTF
Jul 28, 2020 - 10:59am

This Bloomberg article reminds me of a few things

We are only getting started in stagflation and gold is nearly $2000 with silver lagging. Real rates are NIRP. Margin debt is very high and banks are so unsustainable due to bad loans then and $100 trillion or more of bad loans now. We do not know the extent of bad loan volume but I know it has my banker crew scared as their bosses tell them:

'Get out and get some loans, you effing commission whore. We'll decline them but look busy. I can keep my job longer than you. You might keep your job for a few more months but we're going to lay you off any ways> I might even survive the layoffs but you're going to hit the bricks'

The banks are fooked IMO. I've seen 4 major bank crashes in my 40 years in this biz and this time is different. The banks are double fooked

jabaRangeRider49
Jul 28, 2020 - 10:54am

5 Days

Many thanks for the additional input RangeRider. Very much appreciated.

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jabaRangeRider49
Jul 28, 2020 - 10:51am

RangeRider49 Re DRS

Many thanks for your input, it is much appreciated.

I thought that this thread had been superceded by the new thread with Doc J's article, so I copied and pasted my post to you on the new thread, so my apologies, it seems we have two threads going simultaneously!

My problem with certificates is that I live in the Eastern Med on the island of Cyprus, just off the coast of Israel, and the mal service is extremely slow.

Your suggestion of certificates being held by my broker, who is Interactive Brokers, so that I when I wish to sell I can request them to do the needful so as to place me in a position to sell.

I can only ask them and see what they say.

Again my thanks for your input.

uni59
Jul 28, 2020 - 10:40am

TF

why dont you take delivery on a silver contract and make Turd rounds like you did a few yrs ago? I would buy a 100 and i am sure they would be gone in a heartbeat ! Why did you quit making them?

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