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Seems AG start next breakout wave to new highs next days
AG smokin hot today. Core positions and calls are turning into monsters.
Looking for a pull back but might not get much of one...Loved this around 10 bucks...
Earnings out and it’s a beautiful thing. Hope everyone is holding or buying.....
https://finance.yahoo.com/news/first-majestic-announces-financial-results-221300478.html
Earnings were due to be announced before the bell today......so I read. Anyone know anything?
Ummmm,totally disagree. KWN hosts some of the best experts in the business.
Nice try though.
KingWorld is shlock sensationalism. Better source?
The guillotine hangs ever more precariously over the Cabal’s head. Appears we are very close to a Crimex/LBMA collapse. Must read.
https://kingworldnews.com/wheres-the-silver-serious-questions-emerge-as-slv-managers-look-to-cover-themselves/
Absolutely agree, gonna be a lot of fun here.
Yes, patience here will pay big dividends.
Short squeeze in AG still in play...
https://seekingalpha.com/article/4405207-first-majestic-silver-short-squeeze-potential-remains-high
More “good” information for AG owners and PM owners across the board.
https://kingworldnews.com/tesla-may-start-buying-physical-gold-silver-after-1-5-billion-bitcoin-purchase/
Sorry, just calling you out on your misinformation. There actually is a major short squeeze in Silver occurring. Now you can read all about it here in this exhaustive article from expert Ronan Manly. That will help you “grow up” and bring substantive and useful information for serious investors here.
https://www.zerohedge.com/commodities/houston-we-have-problem-85-silver-london-already-held-etfs
Actually, no, that didn’t answer my simple low IQ question. You called for AG to go down to $9.70. So how’s that going ?
GLTYDA.....
Yes, you're absolutely correct, they will most definitely have something to say/do but not for a while yet.
They have Impeachment, COVID-19, Stimulus Bill to contend with first while they continue to print and pump out trillions and trillions of paper IOUs
That would be enough to keep them busy for the foreseeable future alone but when you factor in the Moscow Mitch, Israeli Prime Minister Schumer, QAnon Congress and Senate members, and a bit of good old Federal Incompetency and Bureaucracy, I think Cryptocurrency regulation is way, way, way, down on the list of priorities.
All the while DC hems and haws Crypto is flying Onward, to Infinity, and Beeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeyond!!!!
I really do hope this works out here. I like seeing retailers like us make some dough. It's all a pick your tickers and takes your chances gambling casino merry-go-round.
I will also say in defense of silver, EVERYTHING to do with crypto will need a steady supply of silver to exist. There's more chance of the silver supply chain disrupting the Crypto revolution than Gov't Regulartors. IMHO
Quite the savant! Good luck with the cryptos, the Feds might have something to say about the marketplace. I’ll sit tight here with the backing of physical.
Well actually, it's working out pretty well to tell ya the truth.
I made $4k in $AG and sold as soon as I realized there is no Silver Squeeze.
Doing some basic DD will reveal that Redditeers talked it up in order to try and get another grass movement going without having to sell the list of tickers they were attacking. They don't have the resources to attack silver even if they used all the funds they have. BTW: A message went out on Reddit recently, something like STOP F+++ing SELLING GameStop
That right there shows you they have no $s to buy silver (which has been stuck @ $27 +/- for a week now)
Silver has been owned and manipulated for longer than most of those Redditeers having been inhaling H2O. You think anyone is going to get over on the Investment Banks? ROTFLMFA.
Appears that after that one day fake silver squeeze spike to $22.12 things have settled down into a channel here. Well you guys keep your life savings here and perhaps a silver squeeze will happen sometime this century.
I've taken my profits here and have joined the Cryptocurrency crowd.
Does that answer your question?
GLTYA
Bitcoin $46k Ethereum $1.7k and both are rising.
Hell yeah, keep buying and holding. Our moon shot will come
Looks like finished over $17
Not too bad, climb up.
New to miners or silver or AG ?
Concerned about where AG or where the silver sector is headed ?
This article will assuage any concerns you may be having about your investments in Silver.
https://goldsilver.com/blog/the-two-largest-sources-of-industrial-demand-for-silver-are-about-to-explode-higher/
How’s that working out for ya today ??
It looks like we may of hit the bottom, the price of silver is still negative and AG is in positive territory.
Unfortunately you are right. This was the hard lesson I learned back in 2011. Nothing has changed. Silver is as rigged as ever and a few Redditors won't change it. Even if their hearts are in the right place.
Stupid is as stupid does. LONG
Well said and So True. Wake people!!
Hedge Funds and Investment Banks control the entire Silver story from start to finish.
From the miners to the jewelers and everything in between. And these folks think that a couple a million bucks from some Reddit group are going to change things?
They are driving down the spot price and the lowering ratings on miners and the stupid investors can't even see it. They just keep screaming SHORT SQUEEZE, SHORT SQUEEZE, SHORT SQUEEZE then they refresh their screen and realize their broke
This started moving up after election! Just accelerated on rumor 30. % pull back good time to buy . Silver bullion is non existent. At least for now .
I am figuring around the $9.70 +/- level where it all started before the "rumor" of a short squeeze.
Should have bought the rumor and sold the news at $22.12
Exactly. Hedge funds are making up for the loses. This will drop probably below what it was before.
LOL, yeah like right now. Where is the short squeeze.
AG investors are being taken to the cleaners by Hedge Funds and don't even know it.
Guys no because some group says there is going to be a short squeeze, it will happen. They are very rare. if you buy early ride the up and make sure you get out on time or you will get stuck with overpriced shares.
No worries mate. I am a long term holder and a terrible trader.
Yeah, how's it going over here? Still waiting for that so-called "Short Squeeze?"
It was written all over the wall on Tuesday. There is no GD short squeeze on silver. AG Bagholders have been squeezed. But yeah, what do I know?.
Silver should be seen as a store of value--NOT an investment. There will be no short squeeze as long as their debt dollars have value. If the longs insist on delivery on the COMEX contracts, the bullion banks will give them the cash equivalent--take it or leave it.
Silver is not going to make anyone rich, but it might help preserve some wealth.
Break the COMEX Take Physical Deliver
3 minute video here
https://seekingalpha.com/article/4402741-usgs-2021-report-silver-reserves-and-production-declining
Summary
- USGS reports decrease in silver production and reserves.
- Silver reserves and silver production decreased in Peru and Poland.
- Primary silver production is declining rapidly.
- Most of the silver is produced as by-product from copper and zinc/lead.
Each year, the U.S. Geological Survey publishes a report on world mine production and reserves. As precious metals investors, we are especially interested in the silver segment of this report which gives us extremely valuable information on the supply side of the silver market.
The silver price has risen 50% since last year ever since the Federal Reserve kept interest rates at 0% while increasing its balance sheet by 75%. It is expected that another $4.5 trillion of stimulus will be unleashed over the next few years, so that should boost silver investment demand. On top of that, the recent buying frenzy from the Wallstreetbets community has pushed the amount of ounces in the iShares Silver Trust ETF (NYSEARCA:SLV) to a record high. On the other side, the new trend of electrification (electric vehicles, 5G, solar panels, green energy) will add to fabrication demand. When we look at the supply side of the silver market, we observe that most of the silver supply is produced as a by-product from base metal mining. This is a new trend that has started a few years ago as primary silver production declined while base metal by-product silver production increased. 32.1% of silver production comes as a by-product of zinc and lead mine supply, while 22.8% comes as a by-product of copper production. Thus, 54.9% of global silver production is a result of copper, zinc and lead production.
Statista reported that silver coming from primary silver miners decreased significantly in 2019 and this trend is going to continue going forward. Primary silver miners have enormous problems with declining ore grades and this is starting to show up in the numbers. Also very important to note is that declining primary silver supply only has a minimal effect on the silver price, because most of the supply is coming from base metal by-product (54.9%).
We are seeing a recovery in demand for base metals this year due to the reopening of the economy. For example, copper has risen 75% from its low in 2020 when it took a big hit after the announcement of the coronavirus outbreak in China. Due to lockdowns, the Chinese tourism sector has completely collapsed and this has led to a massive trade surplus for China as the services trade deficit has disappeared. All of this extra saved money was used to invest in commodities like copper, nickel, silver, gold, iron ore, and oil.
Although demand for base metals is improving, I don't expect that supply for base metals will be rising that fast because it is very difficult to bring these mines into production as these are very large projects. The grades of these mines is also decreasing going forward. For example, copper supply (and silver by-product supply) is most likely to grow slowly in the coming years (see figure below of Wood Mackenzie). As a result, silver by-product supply coming from copper mines won't be increasing as much.
Silver by-product supply from lead and zinc mines is rising while silver by-product supply from gold is forecasted to decline. According to Barrick Gold's PDAC 2020 presentation, gold supply (and silver by-product supply) will decrease over the coming years.
The 2021 USGS report shows that silver production and silver reserves have peaked (see charts below from USGS). Mexico and Peru are still the two largest silver producers in the world and Peru is the leader in silver reserves. However, Peru's silver reserves declined from 120,000 to 91,000 tonnes. Also notable is that Poland's reserves declined from 100,000 to 70,000 tonnes. Total silver reserves declined 14% to 503,000 tonnes. It looked like 2014 was the year of peak silver production. Total silver production declined from 26,500 tonnes/year (2019) to 25,000 tonnes/year (2020). When we extrapolate the charts we can estimate that silver will be depleted in about 20 years if not sooner as the average mine life of a silver mine is currently only 10 years.
Let's take a closer look at the 3 largest silver producers: Peru, Mexico and China.
During 2020, we saw that Peru's silver reserves have declined 25% year over year to 91,000 tonnes. On the production side, Peru has been doing well since 2013 with base metal mine production rising 30% from 2013 to 2017, but since 2019 we saw mining production decline again (see chart below from Statista). Peru's silver production decreased 12% year over year to 3,400 tonnes per year in 2020. The outlook for copper production is positive. According to the ministry, next year the mining sector will experience an expansion of up to 15.1% thanks to the normalization of activities and production startup at more copper projects.
Now let's take a look at Mexico. Silver production declined 5% year over year to 5,600 tonnes per year in 2020. The chart below from Trading Economics shows how Mexico's overall mining production improved in 2020 but is still down year over year. Silver reserves were unchanged at 37,000 tonnes.
The third largest producer of silver is China and we have seen a nice comeback in 2018-2019. Silver production in China comes primarily from by-product of lead and zinc (95%), so we need to take a closer look at base metal mining. Mining production in China increased 5 percent in December of 2020 over the same month in the previous year (see chart below from Trading Economics). However, silver production for 2020 was down 7% year over year to 3200 tonnes per year. Silver reserves were unchanged at 41,000 tonnes.
Looking at these numbers, base metal mining has been doing very well despite lockdowns and a good amount of silver is coming from there as a by-product. Nevertheless, it is a fact that silver reserves and grades are coming down. The decrease in primary silver production is evidence of that. The current trend is pointing to declining silver reserves and silver production and this should be encouraging for the silver price going forward.
Silver price also start.. Today looks like Breakout time... Gratulation for all who was smart yesterday and loaded the dip.
10 day chart
Last 26.50
Okay - Now what's in store ?....This here drawn last Fri.
Was that just "the prelude" to a huge giant run ?
Will the DXY 90 hold ?
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Index&symb=dxy&x=58&y=18&time=100&startdate=2%2F22%2F2000&enddate=2%2F19%2F2021&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
For the answer to THAT - I tend to rely on the CAD
Well put.
Not too much to add, other than there is no spare silver. There is far more demand than supply. This has been building for a decade... the fact that it didn't go up in a straight line (what does?) changes exactly nothing. Yesterday a nice break to add.
Hopefully. I am down some but not enough to be bothered. My opinion is something good will happen here.
Why are you even here? All you are doing is trying to scare others out of their shares or scare them out of silver altogether.
Fundamentals say the opposite. There aren't billions of ounces of silver available. The use of silver as a metal is critical and so much of it is used up after being mined. That silver becomes unrecoverable even if it is above ground.
Look at what the total marketplace for silver is... it isn't that big.
Are people playing against big boys that can create paper out of thin air... yes, but there are some rules they have to follow and they are trying to scare you into helping them skate out of this squeeze.
Silver/Gold isn't just about a squeeze, it is real money. Not just fiat currency.
Ok, I release the soapbox to the next person who knows about any real metrics.
BTW: Check out Mike Maloney at GoldSilver.com or on YouTube for his series Hidden Secrets of Money. (Must know facts about how it all works)
Tell Reddit’s just for practice all together move something tomorrow
Well, if you didn't sell then you are certainly betting your entire investment here on a massive bounce.
Exactly what is it that will produce this "bounce" being there is NO SHORT SQUEEZE.
The folks that are being squeezed are the investors hoping for the squeeze. And who are they being squeezed by? The very same folks that they thought they were going to squeeze.
Cheeses man, a little DD goes a long way. AG went up on a rumor of a short squeeze then went down on the news that there was no short squeeze.
Buy the rumor, Sell the news. Sound familiar.
AG already down another $0.10 AH
What kills me Reddits moved everything being all over the place think about it
AG & Silver after -24% today extremly oversold chart picture. i bet tomorrow dark green day and massiv bounce.
Mostly correct, but inherently flawed.
Paper gets called in. When they can’t produce the silver, it gets paid in cash for the value of silver. But, if all the silver is in retail hands, the price surges because silver is used by countless manufacturing and tech companies.
The price goes up, and up, and up.
It was only 80 years or so ago that the people around the world were asked, then forced to sell their personal silver as it was desperately needed. Those who had it, made a lot of money. Those who shorted it, printed countless paper on it, lost a bundle.
AG is now out of silver. So are a lot of the banks, pawnshops, etc etc.
Silver can quite easily go to $400 an oz, and could possibly double that.
Will it happen? Not sure yet. But the squeeze is on like donkey kong!!
$AG
BUY BUY BUY!!!!! lolzzzzzzzz
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