Doing their best to keep it down
Quote:
Originally Posted by
Bobdn
The spot price of silver is now understandably irrelevant it seems. There's an insatiable demand for what little there is in the retail world. Try finding a kilo just now. Ounces of bog standard generic bullion appear to be going for $40 an ounce on Trademe (current spot price in NZD is just $24). I see 1kg bars are now being listed for 100 per cent above spot price. For premium bullion the prices are much higher.
A monster box for Eagles now goes for over $23,000 at this retailer:
https://www.buybullion.nz/product/1-...n-monster-box/
I hope silver sellers and owners do really well over the next little while.
Scott Minerd, a guy who manages $275B USD, said silver is his conviction trade just two months ago.
https://www.youtube.com/watch?v=VB3_oOxVqdk
I wonder if this is silver's time to shine?
Yes flight to safety ... will only snowball from here .. the bullion banks of course keeping the price down keeping their massive shorts in place
And the futures market making it very high risk to go long with the large spreads on close
A leveraged $95k USD position(req. margin $643 NZD) at the silver price of 14.532 ...the sell is 14.424 so basically your'd be down $1,192 NZD straight off ..if the trade goes against you= massive losses ...now the spread will close a touch but still miles away from what it was weeks ago
So the paper market is Broken IMHO