Silver had one heck of a stellar day! Closing on a Friday with such a great run,I bet that was not intended. I wonder if it has to do with all of those orders who are standing for physical delivery of silver this month?
Remember JP Morgan has so many shorts in the comex, they shouldn't have a problem delivering. Golly Gee that is what all those shorts are about - them saying "Hey we have hundreds of millions of ounces of silver to sell to anyone who wants them". The CFTC has allowed them to proclaim that too, without question.
Also don't forget this little tidbit... If true, then I guess JP Morgan misplaced all those hundreds of millions of ounces of silver they say they have for sale. I posted this yesterday. Word is JP Morgan paying 80% premium to people NOT to take physical silver.
How the day ended for Silver
Bid/Ask | 35.67 | 35.69 | |||||||||
Low/High | 34.25 | 35.71 | |||||||||
Change | +1.44 | +4.21% | |||||||||
30DayChg | +7.32 | +25.82% | |||||||||
1YearChg | +18.54 | +108.23% | |||||||||
As a redux - here is a wonderful video made last month, just for Blythe Masters. I have it in another post, but I believe it deserves to be brought back up and inserted here.
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