GoldSilver.com (Silver Shield) – This is the news that I have been waiting for and is probably the reason why silver has been so strong the past couple of days. The HKME is starting its silver contract this Friday July 22nd! This officially breaks the Anglo American monopoly on silver. This will be the first time that Asians can buy and take future delivery of silver in Asia. No longer can the CME raise margins close to 100% in 8 days. (Then refuses to lower them despite a 30%+ drop in 5 days.) The extended hours should also stop the 10 am smack down since traders can now access the HKME.
The silver shorts should be fearing the hundreds of millions of Asians that will be entering this small market.
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