#silversqueeze

[jct74]

Seems to be picking up steam on twitter and has been trending on and off all weekend.

https://twitter.com/search?q=#silversqueeze&src=trend_click&f=live&vertical=trends

APMEX has stopped accepting orders until the market reopens later today and I hear it is getting pretty hard to buy silver anywhere else. It will be interesting to see where the price reopens later today but ultimately I think this effort will fizzle like it did a decade ago for various reasons. Anyways, I thought this topic needed its own thread so here it is.

 

[BortSimpson]

Seems to be picking up steam on twitter and has been trending on and off all weekend.

https://twitter.com/search?q=#silversqueeze&src=trend_click&f=live&vertical=trends

APMEX has stopped accepting orders until the market reopens later today and I hear it is getting pretty hard to buy silver anywhere else. It will be interesting to see where the price reopens later today but ultimately I think this effort will fizzle like it did a decade ago for various reasons. Anyways, I thought this topic needed its own thread so here it is.

Surprised there's not more traffic on this one. I think the Asian markets open at 6PM Sunday (EST). It will be interesting to see what happens. Of course, TPTB will probably hammer the price down with a massive sale in the AM before the open (like they always do in these scenarios). Will the Reddit crowd be able to overcome that though? And if they do, then what? If people start to smell blood, things could potentially get crazy pretty quickly. Odds are TPTB will somehow keep a lid on things though.


"Everyone Is Afraid Ahead Of The Open" - Reddit-Raiders Spark Nationwide Physical Silver Shortage

https://www.zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver

 

[69360]

Watching closely. I might buy in.

Bloomberg is reporting that market ready stockpiles are 3xs current daily volume, so this probably isn't going to work long term. There might be money to be made day trading in silver stocks though.

 

[dannno]

I just went in to a local dealer, when he went back to the vault to get my bar the old guy on the jewelry store side said he had never seen so many people coming in for precious metals.

 

[jct74]

wild fluctuations in first minutes of trading, up significantly

gold up but much less so

 

[69360]

Up $160 at marker open. Is this going to be a run?

 

[outspoken]

Up $160 at marker open. Is this going to be a run?

Where are you seeing this? It looks like it is only up about 6%.

 

[69360]

Where are you seeing this? It looks like it is only up about 6%.

Left of the decimal point. $1.60

 

[oyarde]

Reached 29.82 as the high so far

 

[oyarde]

Seems to be settling in about 28.15 . We'll see if the big boys can beat it down tomorrow .

 

[Anti Globalist]

Everybody should spend their $1400 stimulus check on silver.

 

[tommyrp12]

Everybody should spend their $1400 stimulus check on silver.

yup

 

[smokemonsc]

Apmex is sold out of S.Eagles that are non 2021 year. 2021 year are now at a $13+ premium over spot (~$42 at the cheapest in 1k+ quantity). Pretty crazy out there today.

 

[oyarde]

Upstate Coin and Gold is sold out of silv eagles but for dealers there is still AU Morgans at 38.75 . They are buying Proof silver Eagles in OGP at 54.50 , out of Peace dollars , out of Mexican Gold but they still have some generic rounds at 3 over spot if you have an account with them . I'm guessing that will push physical retail to as much as 36 on rounds if dealers are having to pay 32.

 

[oyarde]

I'm hoping to close over 28 today and tomorrow and maybe that will shake loose a little 90 percent to come into the shop where I work part time . Havnt had much in the past five weeks .

 

[Brian4Liberty]

Reddit crowd is still trying to focus on Gamestop. Probably not ready to move into silver. Obviously some interest in silver though.

Edit: Also, anything that is not Gamestop is seen as a conspiracy by TPTB to help hedge funds cover their Gamestop shorts.

 

[RJB]

I wanted to trade my last ounce of palladium for silver today, but my coinshop was out. I should have went in last week.

 

[TomtheTinker]

Upstate Coin and Gold is sold out of silv eagles but for dealers there is still AU Morgans at 38.75 . They are buying Proof silver Eagles in OGP at 54.50 , out of Peace dollars , out of Mexican Gold but they still have some generic rounds at 3 over spot if you have an account with them . I'm guessing that will push physical retail to as much as 36 on rounds if dealers are having to pay 32.

I just bought some Phoenixes, krugerrands, brittanias and cook island bounties for $38 in a frenzy. About an hour later they were down to 35-36 on JM bullion. Bought some AG and PSLV this morning as well, down an average of 8%. Slightly disappointed in my lack of patience and self control, caught up in the frenzy, hindsight is 20/20. All my other investments are up though so can't complain. Ill be sitting on it for another 3-10 years anyways, might as well just forget about it.

 

[TomtheTinker]

I wanted to trade my last ounce of palladium for silver today, but my coinshop was out. I should have went in last week.

JM bullion has silver. Im gonna sell the scrap gold I bought years ago and buy some platinum. I was thinking about doing the same with my last ounce of palladium, decided to hold onto it for another decade, a lot of demand with where the auto and energy industries are heading.

 

[RJB]

JM bullion has silver. Im gonna sell the scrap gold I bought years ago and buy some platinum. I was thinking about doing the same with my last ounce of palladium, decided to hold onto it for another decade, a lot of demand with where the auto and energy industries are heading.

Yeah, I am torn. I see silver about to take off. I bought the Palladium when it was around $250 ounce. (I paid $311) That was a a decade ago. I know it can go higher, but I guess we will see.