For weeks, I and others have been telling you about massive sovereign and central bank demand for physical metal at the current paper price. From this demand alone, we can infer quite a few things. Today, I can take it one step further.
Hard to say. Since last Tuesday, silver is relatively unchanged in price and in OI. Gold is up a little in price but OI is up 2%. Chances are that the caps at 1630 and 29 will stay in place, at least for another day. However, since Wednesday is another "Fed Day", we must be vigilant.
Do you have the feeling that gold and silver were going to get pounded, regardless of how the Greek elections came out? Me, too. And after all the finagling, dealing and double-crossing, did you actually think that the European central bankers and politicians were going to leave anything up to chance? Me, neither.
Since it has been almost a year since overt QE ended, I thought it might be instructive to take a look this morning at some "commodities" and how they have fared over the past 12 months . Something tells me the next 12 months won't be quite the same...
Our pal, SRSrocco, has penned another fantastic essay and he offered it as a guest post here at TFMR. I gladly obliged to print it because it's very well done and it is imperative that you read it. Thanks to SRSrocco and Harvey Organ for providing this information.