Silver is based fundamentally on industrial demand which does seem like its not waning anytime soon. Gold is more of a store of value and preservation against poor monetary and fiscal behaviour. By these definitions, it seems like both are at the start of a long rally.
holding 2000 grams of gold in physical from 2012 -now i am crorepathi but its in wife custody 
, anyway i am holding 210 grams in digital - every month 1 grams i am purchasing
she is always irritating me as she is crorepathi , without working
all middleclass family who owns gold in lakhs ruppes ,become crorepathi ,
but i missed the silver rally
average price of my wife gold is 3100+
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Man… No signs of exhaustion at all.
If Friday high was the top, do you still think waiting 10% is enough(1 day move)? Or do you think more correction is needed?
Fridays move can be consisted as breakout?
Or you want confirmation ?
Breakout of what? To be a breakout, it should’ve consolidated, tested resistances like in my previous chart. That was nothing but pure pressure. Would it sustain? No idea. Consolidation/time is what makes people comfortable at those prices, making it a new reality. That might happen here or somewhere else or might not happen at all.
I’m just asking though: if next week, we saw it 10% down, would you buy at 71 levels or would you wait for some more? It’s not a trick question or anything. Just curious on your strategy.
I am not buying silver. I just shared my opinion to the original post. What I meant was it’s better to wait for some correction instead of buying it at top. Where is the top? I do not know.
Having said that i have silver bees bought at 86 a year back. Will I sell it? No. When will i sell? I don’t know. Will I add more? May be if we correct 30 to 40 percent. Again not sure.
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If government needs to “save the economy” or it’s friends, how effective would something like Executive Order 6102 be?
Up 94% is a great problem to have. At this point, averaging higher is more about conviction than FOMO.
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Kerala’s annual gold demand is estimated at 200-225 tonnes out of India’s total annual demand of approximately 600-700 tonnes, which is a significant portion.
Like 1980 Silver crash, CME is manipulating by increasing margins yet again, helping short sellers, orchestrating a crash:
Will it work?
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1980 and 2026 cannot be looked at 1-to-1. We did not have solar renewable power back then. The current silver shortage is largely due to huge demand by solar companies as silver is akey component for the panels.
Also, silver has been undervalued for a long time due to which a large number of silver miners exitted the business in the past few years. With corrections coming, the demand is high but supplu is very low.
The fall today is largely just profit booking due to current rally.
Raising margins does not directly mean manipulation and orchestrating a crash. Even SBI closed the silver fund a few months back when the rally was very rapid because the demad became very high and supply was short.
The rise we are seeing currently is price discovery and not manipulation.
To make matters worse. China’s silver exports are closign from 1st Jan as they are planning to hoard silver in house for their own use instead of global supply. Right now if you go to China and sell physical sinver in the market, you can get almost $8-10 more per ounce than in spot prices. This is also a big reason for the market rally.
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It is what it is. 1980 crash is exactly orchestrated like that, by rising margins - nothing else. The question is can they actually orchestrate a crash like 1980 today, if all that you say is true. Demand/Supply deficit has been there for a while. China banning has also been there - market knew the news from beginning of December. Did anything change in the last ten days, acute shortage or whatever, causing the sharp rise? Either I don’t know or it is purely speculative.
PS: I’m long so far. But I’d like to take contrarian views to avoid deluding myself.
The silver heist!
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There are traders in the market who think if market will go up buy calls and down buy puts.
I have seen them averaging far OTM near expiry. (i.e. Market is at 26000 one day before expiry still they will average 26500 CE).
(@nithin I don’t know if brokers allowed or not but they should give nudge so traders don’t average options I have give on above example)
Not everyone understands Option trading. I told them to read Zerodha Varsity to understand basic things but they are not interested.
Everyone just want to make quick bucks.
Looks like it would’ve been a excellent trade to take.
It’s easy to say that now. Isn’t it? How many of them actually bought yesterday. I didn’t.
Also. The 10 percent from top, may not work for commodities or single stocks. It can take 10 years sometimes to come back to that level. The 10 percent dip rule that i follow is only in index. Index comes back to ATH within 3 years and when bought at lower levels the return can increase.