#silversqueeze

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Hard NOT to buy silver right now. I even went into my digs to buy more. I can't help but think we've hit rock bottom right now.
 
Anything can happen during chaotic liquidations. But if you can keep a straight head on you and examine your options you just might come out smelling like roses.
 
Voodoo said:
Anything can happen during chaotic liquidations. But if you can keep a straight head on you and examine your options you just might come out smelling like roses.
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Wise man. On 4 Apr 2025 we went under $30 so if you bought just a few months ago, say 100 oz, then you would have made a tidy profit. Nothing awestruck but for silver impressive. And now we are in a daily spiral up as the market starts panicking a bit and everyone wants the shiny and very useful metal. Of course with silver its a game of inches, like football. A little here and a little there and 10 years later, if you hold out and add to it, you'll end up smelling sweet.

Are there other and possibly better paying investments ? Of course there is. But theres also risk. Far more risk then opening your home safe and pulling out a stack you can choke an elephant with and rub your grubby little hands over.
 


July contracts expire Wednesday. From what I've been reading, the shorts want the price of silver below $35 at that point. The battle is on this week.
 
Just gonna post this here so I can remember. Will see what the numbers look like tomorrow. I'd say its the June contracts will go bye bye. But almost none left. Must be first day of delivery for July?

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Well I don't really see any change in the Monday numbers. They certainly did try a smackdown this morning. Couldn't even get a $1 with the FED speaking.

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The fat lady hasn't sung yet. The battle rages on.
 
I watched oil pop and all the geniuses said it was going to $90. I know you don't want to own any oil stocks right now. Gas was as low as $2.65 in Ft. Lauderdale today.
 
More evidence that the metal demand is All coming from Bankers and Industry while Retail is selling (cause they are Broke and Dumb). And people are going to end up even poorer.

 
Voodoo said:
Well I don't really see any change in the Monday numbers. They certainly did try a smackdown this morning. Couldn't even get a $1 with the FED speaking.

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It does look like a Lot of the July open Interest is rolling to Sep. Open interest dropped 71k to 52k with three trading days left. Still that 52k OI would be 261 Mil Oz.

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Unless your eating out of Alpo cans I think your nuts to be selling your silver. For the first part your going to get paid in what you were trying to avoid in the first place, and thats currency. But say even if Uncle Bud dies and leaves you his 50 year silver stack why sell a commodity that at least is going to hold, and probably go higher, for one that will only go lower ?

OK with Uncle Buds stack I'll sell and buy that new Harley.

Next up are five videos telling you why you should be buying junk silver. Ive stopped buying fancy coins myself, much as I like looking at them. Now I buy junk or 10 oz bars. I worked in a recycling plant and they would gobble up junk silver and stirling with both hands tho I couldn't remember what price vs spot. Still an interesting video.
 
UPDATE: CME COT report published yesterday. I've seen several people comment on the 76,756 short contracts for swap dealers (bullion banks) being largest on record. That's nice.

Total of all silver short contracts on the COMEX is now 158,296 representing the sale of 791,480,000 troy ounces (24,617.78 metric tons) of silver (in COMEX good delivery format bars).

The total global free float of vaulted silver in the COMEX + LBMA + SGE/SFE was ~634.495 million troy ounces at the start of June. I'd update this if the LBMA actually reported their vault stock more frequently than once a month.

There is not enough available silver stock in global trading exchange vaults to back all the COMEX short contract positions. When the long contract owners finally demand delivery, there is going to be an epic silversqueeze.
 
This video could have gone many places but probably best in the silver thread. I saw this article on ZeroHedge and knew it was likely a big deal but couldn't read through it. I don't love giving the bankers more room but I guess we will see.

 
Bix is tunnel visioned on silver, but I suspect the Fed's 5.5T lifeline is likely to help them survive an implosion of the commercial (and possibly residential) real estate market(s).
 
I bought au & ag today. Might go lower next week, but you neber know.
 
pmbug said:
Bix is tunnel visioned on silver, but I suspect the Fed's 5.5T lifeline is likely to help them survive an implosion of the commercial (and possibly residential) real estate market(s).
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The scary part is that probably doesn't even come close to filling all of their gapping giant smoking crappola of a balance sheet.
 
They are collecting fees, but where is all the metal.coming from?
 
UPDATE: CME COT report published Friday (data as of June 24). Swap dealers (bullion banks) increased their silver short position from 76,756 short contracts to 77,431. The shorting will continue until the squeezing brings them real pain.

The total of all silver short contracts on the COMEX is now 154,665 which is down from 158,296 on the last week's report. This represents the sale of 773,325,000 troy ounces (24,053.1 metric tons) of silver (in COMEX good delivery format bars).

The total global free float of vaulted silver in the COMEX + LBMA + SGE/SFE was ~634.495 million troy ounces at the start of June. I will update this for the start of July in a few days (maybe tomorrow) after the LBMA publishes their monthly vault stock report.

There is still not enough available silver stock in global trading exchange vaults to back all the COMEX short contract positions. And while not all COMEX traders stand for delivery on their contracts, we are seeing a huge increase in the number of contracts standing for delivery in 2025 versus 2024.
 
As of July 8, COMEX July silver futures now up to 7,396 contracts standing for delivery (equivalent to 36,980,000 troy ounces or 1,150.2 metric tons) - up ~12.3% from July 3).
 
So that was a running total, ok... still have 1,131 open interest in July. It's interesting that they delivered 351 but OI only declined 50... So that implies there were 300 contracts bought yesterday that want delivery.

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Looks like silver is starting to build a Tariff premium into the price again. The spreads are widening with that Copper scare the other day.

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COMEX-LBMA EFP spread widening again...

 
What were seeing is the inevitable, at least I believe. If anything the tariff scare should lower silver, or at least keep it where it was, due to the lack of consumer confidence and production slow downs. But instead were seeing the opposite of what is far more a Industrial metal then gold.

What were seeing is the exponential rate of technological advancement of which silver is a crucial metal. I think we'll see a steady rise in its price. Some downs to be sure but its place in history is secured. I may be wrong but this is not just a spike but a trend. A slow steady trend of a metal whose production has not kept up with growing demand for years now.

Then again the charts do reflect a panic on the order of gold so who knows ? It might be panic buying. I got in yesterday morning early. For once my timing was right.
 
It looks to me like physical is getting tight and shorts are burning.
 
Platinum showed the same yesterday. 13 deliveries but OI expanded by 115 contracts. I only saw 1 day similar and that was Silver on July 3rd.
 
Theres more going on here then panic buying. Ive often spoke of the importance of silver in the next technology evolution, which BTW is happening right now, and its going to cause a steady trend of upward prices. Ups ? Downs? Of course there will be, and while todays silver rocket resembles gold and its easy to say its tariff related I think theres more to it then that. Put it this way, I wasn't surprised to wake up to $38+ silver today and feel good I anticipated it yesterday beforehand.

$40 silver by the end of the year is assured, I believe.
 
$40 silver by end of next week, possibly.
 
Ive stopped buying fancy coins myself, much as I like looking at them. Now I buy junk or 10 oz bars.
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OK I Lied. I just bought Philharmonics, Eagles, Maples,Koo-Koos, Libertards, even BU 1921 MSD's. My Vulcan sense told me silver was going to go up,up,up, and as much as I hate telling all of you "I told you so" "actually I dont hate it" I bought exactly what I said I'd never buy again. You know the thing is I just love silver. I'm like Bilbo Baggins in the Dragons Lair I just love the stuff. Its such a beautiful metal and the designs make me go ga-ga. I even have art pieces on the mantle. The Germania mint is my favorite.

Yesterday I took delivery of my 1885 "CC" MS65 MSD and just held it panting for awhile. Morgans are just so gorgeous and have so much history. I have an entire wall in my office consisting of the 1st half of the 20'th century, dedicated to the victims of Fascism, remembered in coinage and currency, a lot of it in silver with some fascinating coins to go with the currency. To honor the victims of those scum and the Hero's who struck them down. 80 million dead from two World Wars.

Never forget.

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Looks like futures @ $39.1 and spot at 38.4 so EFP spread ~$0.70 right now...
 
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