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What could happen in 2024, that didn't happen in 2023, that would push silver to $30+

cohodkcohodk Posts: 18,493 ✭✭✭✭✭
edited January 1, 2024 7:28AM in Precious Metals

Seems there were many events globally, and domestically, that could have/should have moved silver much high last year. Other assets such as gold, equities and residential homes ended 2023 at or near all-time highs. What was the missing ingredient for higher silver prices?

Excuses are tools of the ignorant

Knowledge is the enemy of fear

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Comments

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @cohodk said:
    What was the missing ingredient for higher silver prices?

    free market. we got glimpses of it when premiums skyrocketed.

    they will return when the curtain is pulled back.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • MartinMartin Posts: 805 ✭✭✭✭✭

    Trump could get elected and a civil war starts🤷

    Just trying to come up with something

    Martin

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    What was the missing ingredient for higher silver prices?

    The missing ingredient is that Blitzdude hasn't yet given his endorsement. Once he does, and he will - silver will make a major run that hasn't been seen in decades. ;)

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭
    edited January 1, 2024 4:55PM

    Premiums increased when Covid slowed production at all the major mints. Those premiums have since collapsed. Gutter spot price is currently artificially high due to manipulation. You will see the real market when the price plumets. $30+ gutter? When pigs fly. RGDS!

    P.S. I expect big things from The Metal of Kings in the next several years, gutter could ride it's coattails for a brief period but it would be very short lived. THKS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @jmski52 said:
    What was the missing ingredient for higher silver prices?

    The missing ingredient is that Blitzdude hasn't yet given his endorsement. Once he does. . .

    . . .it will be too late.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • percybpercyb Posts: 3,295 ✭✭✭

    Interest rates drop to 1 on the ten year treasury bond

    "Poets are the unacknowledged legislators of the world." PBShelley
  • MsMorrisineMsMorrisine Posts: 32,038 ✭✭✭✭✭

    silverfinger makes the country's silver supply radioactive

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • rte592rte592 Posts: 1,382 ✭✭✭✭✭

    @blitzdude said:
    Premiums increased when Covid slowed production at all the major mints. Those premiums have since collapsed. Gutter spot price is currently artificially high due to manipulation. You will see the real market when the price plumets. $30+ gutter? When pigs fly. RGDS!

    P.S. I expect big things from The Metal of Kings in the next several years, gutter could ride it's coattails for a brief period but it would be very short lived. THKS!

    Is this an endorsement? :D
    I was passing through El Centro California.
    Stopped in a couple of pawn shops on the old main street.
    One had Mexican money 4x pricing and No silver or gold.
    The other one had 25 random newer AMEX rounds and pamp bars for $45.
    I ask if was selling any at that price and he said a Little...will restock in a week.
    Nothing old odd or vintage.

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    Silver holders will stop selling their loots & that includes the big boys. (supply & demand......No supplies but demand is still there) That's the only way, in my mind, that silver would have a chance of hitting $30. Same old narrow trading range..$19 - $26 will remain in place)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    supply chain issues can be caused by more than pandemics. The next one will be a supply vs. demand issue.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • Pandemic II COVID Boogaloo

  • dcarrdcarr Posts: 7,885 ✭✭✭✭✭
    edited January 3, 2024 12:07AM

    @rte592 said:
    Is this an endorsement? :D
    I was passing through El Centro California.
    Stopped in a couple of pawn shops on the old main street.
    One had Mexican money 4x pricing and No silver or gold.
    The other one had 25 random newer AMEX rounds and pamp bars for $45.
    I ask if was selling any at that price and he said a Little...will restock in a week.
    Nothing old odd or vintage.

    Did you happen to ask what they were paying ?

  • All it would take is tiktok telling people to eat silver.
    Bunch of blue Gen Z influences cause a run on colloidal silver, then bullion and coins. See kids munching 64 quarters in classrooms.

    The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.

  • ADGADG Posts: 422 ✭✭✭

    @Martin said:
    Trump could get elected and a civil war starts🤷

    Just trying to come up with something

    Martin

    More likely, Trump won't get elected and a civil war starts.

    "The vaccines work,” Trump said, adding that the people who “get very sick and go to the hospital” are unvaccinated.
    “Look, the results of the vaccine are very good, and if you do get it, it’s a very minor form,” Trump continued. “People aren’t dying when they take the vaccine.”
    Do your part, America 💉😷

  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    @RiveraFamilyCollect said:
    All it would take is tiktok telling people to eat silver.
    Bunch of blue Gen Z influences cause a run on colloidal silver, then bullion and coins. See kids munching 64 quarters in classrooms.

    No Thanks. Some have tried......

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    Massive rebates and crazy tax beaks nationwide on solar panel installation. Or a big coal shortage.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • bidaskbidask Posts: 13,814 ✭✭✭✭✭

    Nothing

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • bidaskbidask Posts: 13,814 ✭✭✭✭✭

    Well on second thought maybe if bitcoin goes back below 20000

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • TwoSides2aCoinTwoSides2aCoin Posts: 43,757 ✭✭✭✭✭

    If we lowered minimum wage to one dollar per hour and every federal employee were paid with silver American Eagles , we might see silver priced in its rightful place. People might actually love working harder, for a raise to a dollar and a dime per hour. Buck dat trend . Thinking : what could push silver anywhere ? Electricity.

  • rte592rte592 Posts: 1,382 ✭✭✭✭✭

    @dcarr said:

    @rte592 said:
    Is this an endorsement? :D
    I was passing through El Centro California.
    Stopped in a couple of pawn shops on the old main street.
    One had Mexican money 4x pricing and No silver or gold.
    The other one had 25 random newer AMEX rounds and pamp bars for $45.
    I ask if was selling any at that price and he said a Little...will restock in a week.
    Nothing old odd or vintage.

    Did you happen to ask what they were paying ?

    I didn't ask what the shop was paying for silver, I wasn't looking to sell them anything.
    I was looking for older odd or vintage silver.
    There was none of that in 3 ships.
    One didn't even deal in coins or bullion.

  • rte592rte592 Posts: 1,382 ✭✭✭✭✭

    @ADG said:

    @Martin said:
    Trump could get elected and a civil war starts🤷

    Just trying to come up with something

    Martin

    More likely, Trump won't get elected and a civil war starts.

    More likely, Trump won't get elected and a civil war starts shortly after the other shoe drops.

  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    Good lord, now we got the doomsdayers calling for civil wars. LOL. Exit the bunker people. For cripes sakes. THKS!

    The whole worlds off its rocker, buy Gold™.

  • Peter89Peter89 Posts: 57 ✭✭

    Today

    Comex silver 23,02
    Shanghai Futures Exchange silver 25,51

    SFE silver 10,8% premium vs. Comex silver

    When someone will start to arbitrage the price difference silver will get to $30+

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    Thanks for all the responses. I'm not reading much optimism for higher prices though.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • DrBusterDrBuster Posts: 5,300 ✭✭✭✭✭

    I sold 20oz generic Wednesday, that'll prob push it up, ha!

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    Rate cuts will be the big demand driver

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:
    Rate cuts will be the big demand driver

    Why would demand increase if the Fed cut rates?

    The markets have already dropped rates 100 bps.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @cohodk said:

    @derryb said:
    Rate cuts will be the big demand driver

    Why would demand increase if the Fed cut rates?

    The markets have already dropped rates 100 bps.

    and what did gold do during that 100 bps rate drop? LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    @derryb said:
    Rate cuts will be the big demand driver

    Why would demand increase if the Fed cut rates?

    The markets have already dropped rates 100 bps.

    and what did gold do during that 100 bps rate drop? LOL

    Get back to the same price it was nearly 2 years ago?

    The thread is about silver.

    You didn't answer the question...as usual.

    What if rates go up?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • MsMorrisineMsMorrisine Posts: 32,038 ✭✭✭✭✭

    the last significant move was prescribed to silver apes buying, wasn't it?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 36,016 ✭✭✭✭✭
    edited January 7, 2024 5:56PM

    @cohodk said:

    @derryb said:

    @cohodk said:

    @derryb said:
    Rate cuts will be the big demand driver

    Why would demand increase if the Fed cut rates?

    The markets have already dropped rates 100 bps.

    and what did gold do during that 100 bps rate drop? LOL

    Get back to the same price it was nearly 2 years ago?

    The thread is about silver.

    You didn't answer the question...as usual.

    What if rates go up?

    I answered the question, you just can't comprehend.

    Rising precious metal prices are driven by demand.

    Historically lower rates mean higher PM demand resulting in higher PM prices.

    While this thread is about silver prices, gold is silver's puppet master. Silver prices historically lag gold prices as shown below.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    @derryb said:
    Silver prices historically lag gold prices as shown below.

    Gutter prices historically lag pretty much all prices. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @blitzdude said:

    @derryb said:
    Silver prices historically lag gold prices as shown below.

    Gutter prices historically lag pretty much all prices. RGDS!

    You shoulda bought silver at lower prices. LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,757 ✭✭✭✭✭
    edited January 8, 2024 7:45AM

    @DrBuster said:
    I sold 20oz generic Wednesday, that'll prob push it up, ha!

    @DrBuster said:
    I sold 20oz generic Wednesday, that'll prob push it up, ha!

    I sold 2200 oz+ in December. Prices dropped and then… Here we go again. Another day, another dollar.
    2024 Eagle time. Am pretty sure they’re about $30.
    Edit for grammatical errors. And I have plenty of them.

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    @derryb said:

    @cohodk said:

    @derryb said:
    Rate cuts will be the big demand driver

    Why would demand increase if the Fed cut rates?

    The markets have already dropped rates 100 bps.

    and what did gold do during that 100 bps rate drop? LOL

    Get back to the same price it was nearly 2 years ago?

    The thread is about silver.

    You didn't answer the question...as usual.

    What if rates go up?

    I answered the question, you just can't comprehend.

    No you didn't, so ill ask again...

    Historically lower rates mean higher PM demand resulting in higher PM prices.

    Why?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Silver 25,60 in Shanghai
    NY/London 22,60

    13% premium

    Thanks @pmbug

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Silver is an opaque market, so the most likely impetus that would take silver over $30/oz. Is when Comex has trouble making a delivery or if Comex declares a force majure.

    We won’t know anything until after the fact, but it will be interesting when it does happen.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    @jmski52 said:
    Silver is an opaque market, so the most likely impetus that would take silver over $30/oz. Is when Comex has trouble making a delivery or if Comex declares a force majure.

    We won’t know anything until after the fact, but it will be interesting when it does happen.

    Don't hold your breath. Supply far outstrips demand for gutter metal. ECO101. THKS!

    The whole worlds off its rocker, buy Gold™.

  • @jmski52 said:
    Silver is an opaque market, so the most likely impetus that would take silver over $30/oz. Is when Comex has trouble making a delivery or if Comex declares a force majure.

    .
    It depends on what do you mean with force majeure.
    If with force majeure you mean Comex not settling contracts by delivering the metal, than they have been implicitly declaring force majeure for years now :)

    AFAIK Comex contracts aren't settled through delivery but mostly through Exchange for Physical: “settlement" of gold futures contracts can be negotiated in the (OTC) market, at a different price than floats on the Exchange, and executed with anything that resembles the underlying asset.

    https://www.bullionstar.com/blogs/koos-jansen/comex-gold-futures-can-be-settled-directly-with-eligible-inventory/

    Comex contracts can be settled e.g. with ETF shares, or opening unallocated accounts in the London Market - which basically is a market for unallocated gold.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    My understanding is that the futures exchanges exist to enable both suppliers and end users to hedge against future price movements of a commodity, reducing the risk of extreme market volatility for both buyers and sellers.

    A force majeure implies that a physical delivery isn’t going to be made in fulfillment of the contract, which is disruptive to the whole purpose of having a futures exchange. It should never be adopted as “standard operating procedure”.

    Allowing contracts to be settled in anything other than the physical commodity is just one more nail in the coffin of the rigged markets being propped up in a corrupt system. Sad, but true.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    The panic buyers will turn off the mainstream news and realize the world is at war.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:
    The panic buyers will turn off the mainstream news and realize the world is at war.

    Like it has been every year?

    So what you are saying is that it will take a massive and over-reacting emotional response (panic), to push silver north of $30?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,016 ✭✭✭✭✭
    edited January 21, 2024 6:54AM

    no, just a rational response (fear).
    You see rational as irrational when you don't agree with it. Just like how you consider reality a conspiracy theory when you don't agree with it..

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    @derryb said:
    The panic buyers will turn off the mainstream news and realize the world is at war.

    Trust me if the world was at war the last thing on earth the mainstream would be buying is gutter metal. Please turn off tinfoil hedge and exit the bunker. THKS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭
    edited January 21, 2024 7:28AM

    @blitzdude said:

    @derryb said:
    The panic buyers will turn off the mainstream news and realize the world is at war.

    Trust me if the world was at war the last thing on earth the mainstream would be buying is gutter metal. Please turn off tinfoil hedge and exit the bunker. THKS!

    Hard to trust anyone who does not see the world is at war.

    But, rest easy, likely to be no new wars. LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:
    no, just a rational response (fear).
    You see rational as irrational when you don't agree with it. Just like how you consider reality a conspiracy theory when you don't agree with it..

    No. You said panic, which is ALWAYS the wrong decision. Fear is a rational response to ignorance or lack of understanding. Fear is easily overcome through growth of knowledge.

    You're the one who sees conspiracy in everything, not I.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:

    @derryb said:
    The panic buyers will turn off the mainstream news and realize the world is at war.

    Trust me if the world was at war the last thing on earth the mainstream would be buying is gutter metal. Please turn off tinfoil hedge and exit the bunker. THKS!

    Hard to trust anyone who does not see the world is at war.

    But, rest easy, likely to be no new wars. LOL

    When was the world never at war?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • GoldFinger1969GoldFinger1969 Posts: 1,162 ✭✭✭✭
    edited January 21, 2024 9:31AM

    @jmski52 said:
    Allowing contracts to be settled in anything other than the physical commodity is just one more nail in the coffin of >the rigged markets being propped up in a corrupt system. Sad, but true.

    What is wrong with settling any differential in cash ? Why must the physical commodity be delivered ? Because YOU want it so even though the buyer and seller of the futures contract don't want it ?

    You are free to set up your own exchange with your own rules regarding physical delivery. Let's see how many participants you get. :D

    Tell us how the "rigged markets" are being propped up. Are prices too high ? Too low ? What ?

    You never tell us. :)

  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    @GoldFinger1969 said:
    Tell us how the "rigged markets" are being propped up. Are prices too high ? Too low ? What ?

    Most of the conspiracy sites preach that the rigged markets are suppressing the price of the gutter. They are brainwashed to believe that if gutter was not manipulated it would be $500 an ounce. The fantasy is, fiat currencies would become worthless, all the banks would go belly up, end the FED blah blah blah, and we'd all be running around trading a silver dime for a can of beans or 2 rolls of toilet paper. Man I tell ya, you can't make this stuff up. LOL

    The whole worlds off its rocker, buy Gold™.

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