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Spot Silver - over $27/ounce
Posted on 4/3/24 at 12:15 pm
Posted on 4/3/24 at 12:15 pm
Holy shite, something is going on. Silver, the most manipulated precious metal in the history of commodities, is finally breaking out after a decade of a teens to low 20 range.
Posted on 4/3/24 at 12:51 pm to Tomatocantender
GSR was at 100-1 so silver still has a lot of catching up to do relative to gold. Fingers crossed it breaks through $30 in the next few months
Posted on 4/3/24 at 1:19 pm to Tomatocantender
quote:
Spot Silver - over $27/ounce
Is there an ETF that rides this increase fairly well? How about one that shorts it in case of decrease?
I was actually coming on to look to see if there were Gold increase/decrease ETFs mentioned to look at, so apologies for hijacking the thread.
Posted on 4/3/24 at 1:26 pm to HagaDaga
quote:
Is there an ETF that rides this increase fairly well?
SLV lags it a little bit, but it's probably as close as you will get in an ETF.
Posted on 4/3/24 at 1:54 pm to Y.A. Tittle
Thanks. I'll keep an eye on it.
Posted on 4/3/24 at 2:01 pm to HagaDaga
Looks like ZSL is the inverse/short ETF, so the opposite of SLV. I don't know why but in my short period of learning I seem to be leaning towards learning about and watch ETFs that counter each other.
Thanks again.
(If anyone knows of a thread on here that discusses this, bless let me know. I haven't nailed the search function yet. Thanks)
Thanks again.
(If anyone knows of a thread on here that discusses this, bless let me know. I haven't nailed the search function yet. Thanks)
Posted on 4/3/24 at 2:05 pm to HagaDaga
quote:
Thanks. I'll keep an eye on it.
Apparently PSLV is a silver ETF that allows you to convert your shares into physical silver if you were ever so inclined. But SLV is probably the best pound for pound with lowest ETF mgmt fees as Y.A. said.
This post was edited on 4/3/24 at 2:06 pm
Posted on 4/3/24 at 2:12 pm to HagaDaga
I’m in SLV and SIVR. They seem to track each other.
Posted on 4/3/24 at 2:42 pm to Tomatocantender
Thanks for the input!
Posted on 4/3/24 at 2:52 pm to Y.A. Tittle
I’d stay away from SLV. I really don’t like PSLV either but I do own a bit. Physical is the best but premiums get outrageous during run-ups like this and you’ve gotta have a place to store it
Posted on 4/3/24 at 3:24 pm to FredsGotSlacks
Have been in EXK and HL. What a ride this past month
Posted on 4/3/24 at 3:40 pm to FredsGotSlacks
quote:
I’d stay away from SLV.
What's the concern? I've kept a little bit in it - nothing really significant - and it's nice to see the prices actually pushing up a bit. Is there something about it as an ETF, I should be wary of?
Posted on 4/3/24 at 4:27 pm to Y.A. Tittle
quote:
What's the concern?
A lot of documented concerns with the fund, mainly that they will change their prospectus on a whim and have done so several times over the past few years. And although they are supposedly the largest holder of physical silver in the world that claim is backed by silver that is held in vaults all over the world and leased and released who knows how many times. So basically I don’t like the fact that they are lying about owning the investment product that you are trading and I don’t trust blackrock at all.
PSLV is a sprott fund and they buy it physically and store it in the Canadian vaults and it is audited and verified. The only time they lose silver out of their vaults is when someone redeems a lot of shares for physical which is extremely rare because you’ve got to have a lot of shares to be eligible for physical redemption.
ETA if you’re liking for a quick in/out SLV is ok I guess. For people looking to actually invest in silver I’d stay away. A lot of people that like to short silver but want to stay away from the futures market prefer SLV but I don’t have any experience with that
This post was edited on 4/3/24 at 4:33 pm
Posted on 4/3/24 at 4:50 pm to LChama
quote:
Have been in EXK and HL. What a ride this past month
HL and CDE are my 2 main mining stocks. Have some AG as well but that things been a turd until it shot up 13 percent today. CDE and HL look spicy though, about time the miners woke up.
Posted on 4/3/24 at 5:22 pm to FredsGotSlacks
Glad to see this... I've got a ton of pre-64 silver coins I'd like to unload as some point.
Best way to sell?
Best way to sell?
Posted on 4/3/24 at 5:37 pm to Lsut81
quote:
Best way to sell?
There’s some online places that will take it off your hands at a decent premium depending on what it is, just google them. There was a guy I folllwed on Instagram that was buying, look for stephensvault on there. He’s legit, he sells a shite ton of gold/silver
Posted on 4/3/24 at 5:57 pm to Tomatocantender
quote:Anybody know what the Hunt brothers are up to these days...??
pot Silver - over $27/ounce
Holy shite, something is going on.
For reference, google Silver Thursday, i.e., Thursday, March 27, 1980.
Posted on 4/3/24 at 6:06 pm to LSURussian
quote:
Anybody know what the Hunt brothers are up to these days...??
Well the sales tax they were pushing got voted down this week. The public decided they didn't want to fund stadium renovations for a family worth 24 billion.
Posted on 4/3/24 at 6:55 pm to GeauxTigers123
quote:I'm pretty sure those pushing the sales tax are descendants of the Hunt brothers who tried to corner the silver market in 1980.
Well the sales tax they were pushing got voted down this week.
Two of the three brothers are deceased and the only one still living is almost 100 years old.
Posted on 4/3/24 at 10:20 pm to LSURussian
I believe you are correct, I was just referring to the family in general.
I just looked and the guy that gets on the podium when the chiefs win is the grandson of H.L. Hunt who made the initial money in the East Texas oil field and had that giant house on White Rock Lake.
I just looked and the guy that gets on the podium when the chiefs win is the grandson of H.L. Hunt who made the initial money in the East Texas oil field and had that giant house on White Rock Lake.
This post was edited on 4/3/24 at 10:24 pm
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