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re: Silver Bugs thread: Silver up 12% for the week on Black Friday started the journey
Posted on 1/29/26 at 5:03 am to ronricks
Posted on 1/29/26 at 5:03 am to ronricks
quote:Not sure if you trade much but I had 25 contracts for May 2026 IAU calls with $60 strikes last summer. I have only have 5 left. It was free money.
He’s up like 60% on the American Eagles as of yesterday
Honestly, deep in the money leaps on GLD or IAU are STILL too cheap. You can effectively finance gold exposure for 5%. That's not as enticing when gold has gone parabolic. I'd need a consolidation period where a base is established before doing it again. Anyways, I was buying them as recently as Christmas. That batch is up 67% already.
1
Posted on 1/29/26 at 7:28 am to FAT SEXY
quote:
Au is already up $1300/troy YTD and it's still January
the Gold Bull is a sexy beast these days ….. rampaging up the chart
Posted on 1/29/26 at 7:30 am to beaverfever
quote:
I'd need a consolidation period where a base is established before doing it again.
Yep, this is what I’m waiting for too. And if the GSR gets closer to 30, … then so much the better
Posted on 1/29/26 at 7:30 am to cadillacattack
Might we see $120 silver today?
Posted on 1/29/26 at 8:20 am to KCSilverTiger
It’s currently at $122 /oz
Posted on 1/29/26 at 8:35 am to cadillacattack
quote:
It’s currently at $122 /oz
Anyone sold at a local shop lately? Last I went it was spot minus $4. But I'm wondering if the refinery capacities have changed this.
Posted on 1/29/26 at 8:37 am to beaverfever
quote:
Are you thinking more of a second home/quality of life addition or something more investment oriented?
A little bit of both tbh.
Posted on 1/29/26 at 8:57 am to FAT SEXY
quote:
According to this it's a good time to swap into some land..
This is my plan. I have some cash sitting on the sidelines that I'm afraid may start losing value. I want to get it into something durable.
Posted on 1/29/26 at 9:23 am to Kjnstkmn
Hit $121.57 this morning but now the banks are smashing it back down to $112 with their paper frickery. Shanghai is $131
This post was edited on 1/29/26 at 9:26 am
Posted on 1/29/26 at 9:26 am to cadillacattack
quote:
It’s currently at $122 /oz
And, an hour later a it’s $112
Folks. This week was the blow off top.
IMHO, those waiting for $600 or whatever ridiculous YouTube targets you’ve heard will be generational bag holders.
In 30 years, we can see $600
Posted on 1/29/26 at 9:29 am to TigerDeBaiter
Sorry, $107 now…. 
Posted on 1/29/26 at 9:29 am to Kjnstkmn
Dropping like a rock now.
Posted on 1/29/26 at 9:35 am to Tantal
The market makers are losing control.
Posted on 1/29/26 at 9:38 am to TigerDeBaiter
There will not be a blow off top unless the government gets involved somehow in cahoots with the banks to fix the prices. The fundamentals are huge inelastic industrial supply and limited demand with no way to quickly ramp it up.
Squeeze forces may make it overshoot to a crazy high once retail investment really ramps in and the banks fail to deliver and then it pulls back to something more sustainable but IMO the new sustainable price will be well over the $150 that Citi called the other day, likely at least in the low $200’s conservatively.
Physical price in China is not wavering, it’s only the paper silver frickery that the banks are doing that is causing the temporary smashes in comex price.
That’s my take on it anyway, not financial advice.
Squeeze forces may make it overshoot to a crazy high once retail investment really ramps in and the banks fail to deliver and then it pulls back to something more sustainable but IMO the new sustainable price will be well over the $150 that Citi called the other day, likely at least in the low $200’s conservatively.
Physical price in China is not wavering, it’s only the paper silver frickery that the banks are doing that is causing the temporary smashes in comex price.
That’s my take on it anyway, not financial advice.
This post was edited on 1/29/26 at 9:41 am
Posted on 1/29/26 at 9:38 am to beaverfever
My trading account looks like Gettysburg right now.
Posted on 1/29/26 at 9:44 am to Kjnstkmn
I think you’re dramatically overestimating the actual physical demand for silver as a raw material. Market will adjust like always.
Posted on 1/29/26 at 9:49 am to TigerDeBaiter
quote:
I think you’re dramatically overestimating the actual physical demand for silver as a raw material
You are what we call "wrong"
Posted on 1/29/26 at 9:56 am to TigerDeBaiter
quote:
I think you’re dramatically overestimating the actual physical demand for silver as a raw material.
Samsung is working on a solid state lithium battery for EVs that will require a kilogram of silver per battery. I think China is trying to guarantee their supply since their EV market is so big. I don't see silver demand in the industrial sector going down.
Posted on 1/29/26 at 10:20 am to Tantal
quote:
Dropping like a rock now.
My last silver purchases were made in Nov at around 45/oz. More than doubled my money in that timeframe, so it can pull back a little more and I've still doubled my money in 3 months. I've been buying silver and gold for 30 years, so my cost avg is much lower than current prices.
Posted on 1/29/26 at 10:46 am to cadillacattack
quote:
the Gold Bull is a sexy beast these days ….. rampaging up the chart
There's a glass half full.
It looks to me more like the dollar is a dog dying in the gutter.
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