Loading ...We’re moving up in London and Hong Kong.
I forget where I read the article, I thought someone here posted it, maybe the Captain. Anyhoo, the gist of the article was that the real problems for the scum in silver were developing at the LBMA, as they were massively leveraged in silver just as stockpiles were falling. I have no idea whether that’s true or not, but it seems that for years the LBMA was able to “soften up” the metals for the open at the Crimex. That hasn’t been the case lately and not the case this evening as spot silver is up $.40 to $34.25. Gold up $15
We’ll see if it holds all night. Technicals won’t matter if there is a serious squeeze on the metal supply.
Premiums for silver eagles at Golddealer.com are over $5 now. Maples are around $4. Other 1 oz. rounds can be found for $3 over spot. Looks like they still have plenty of supply, even in 100 oz. bars. I suppose when those start to disappear then we’ll know things are finally heating up in the US. We here in the US are too smart to buy pet rocks, we like invisible coins. 🙂