$Silver leaving the station

[SunTrader]

$DXY also up 1% so far today.

 

[themickey]

Normally when the metals go up, the AUD will rise versus USD.
Today so far, AUD against USD has fallen with metals rising.

But the prices of gold and silver have risen strongly so far today in AUD.

SILVER in AUD

 

[semperfrosty]

I have some Morgan Silver Dollars in the kitchen.
They offer different grades (based on wear).
Mine are pretty sharp still.
Now in little plastic cases.
Pretty cool to think that was in somebody's hand, pocket, etc way back.
Most of mine are 1880-1900.

Rough value?

 

[countryBoy641]

$30 to $42 each depends on condition
I paid less.
Cool to own, look at.
I put mine in snap-together plastic cases.
Mine are old, a lot of them 1880s, etc.

https://sdbullion.com/catalogsearch/result/?q=morgan+silver+dollars

 

[SunTrader]

Rough value?

Even "in little plastic cases" kept in the kitchen which can get humid from cooking temps and a lot of use of the faucet and/or dishwasher likely means they rate as fair valued at around $20-30 a piece tops.

 

[ButterflyEffect]

Yea I basically set $500 on fire last night and closed my short in the pre-market. Like I said above, I kept worrying I am going to wake up and another war broke out. The afternoon move was what I was trying to catch but was totally wrong but I would have closed that too.
My goal ultimately is to trade the normal conditions and not get killed when totally wrong with events like this. Easy fold.

Solver now at $29.09.
Hit $29.30 a few hours ago.
Can you say: "En Fuego"

 

[themickey]

Looks like a top?

 

[countryBoy641]

Explain to me how you're going to "demand" delivery when the contracts clearly state that they can be settled in dollars?
Stand on the street with a bullhorn?
Sue them in a NYC court?

There's possibly money to be made if you acquire a significant amount of deliverable silver bars and catch a big divergence between the paper price and the physical price, but I expect it is limited.

As for industrial demand. The above ground inventory is significant.
https://seekingalpha.com/article/4373933-warning-misleading-silver-supply-and-demand-data
Even if 90% of the stated inventory was fraudulent, there's still many years of supply.

FWIW, I'm not anti silver. I think it's an ok hedge against government gone bonkers. I just don't think it's going to beat investment in productive assets long term.

Ya know there was a horror show in the crude oil market I think it was April 20, 2020.
Some trader was long (not a lot of contracts) at a great price.
Problem was, It costs a ton to take delivery.
Somebody wanted to make that point.
So this one oil trader was the target.
$WTIC swung negative (I think -$8).
The guy with the contracts got crushed.
He couldn't take delivery or sell them at that price.
True story.