Don't be fooled by the technical analysis. Commercial Traders are sitting on mountains of short position against gold. However, buyers are hard to find at the moment; so the defending of $1,200 seems to be a bull-trap than anything else. I am afraid much lower spot price is ahead. And silver will be no exception.
FYI, several online bullion dealers are running specials frequently. Apparently, they're comfortable to sell at the current price. And that should raise your eyebrow.
Don't be fooled by all analysis including your comments of much lower prices. You know that how ?? The PM markets are impossible to predict in the short term. Long term we all know this fiat system is doomed and metals will retain value.
Dealers run specials year round. Dealers are hedged and make money off the premium differences, not the price movement of silver. Ask Tulving how it worked out not hedging his pms.
The taking of those hedging positions itself, drives the price too. What else sits behind those typical 3-4 months price fluctuations, with the net total amount hedging positions going up and down with them? They order a stock replenishment, and take the hedging positions with it. The replenishment drives the price up, the hedging drives it up an equal (100% hedge case) amount. And then, their customers are supposed to pay those higher prices, until that stock got sold again, after which the story repeats. About Tulving, I've seen that statement of not hedging several times. I've also seen this: http://about.ag/tulving.htm Bullion dealers and speculators / stackers are eachothers financial enemy. That's something important to realize. Speculators try to buy low sell high, and if they succeed, someone has to lose, pay that high / sell that low. The futures market was invented to battle speculators. Without a futures market, bullion dealers would need to openly refuse to buy back, their speculating customers of course not liking that. A futures market is basically nothing but a disguised refusal, based on a price that is driven up / down twice as much as speculators would have caused.
My local grocery stores are having a sale on cereal. They must know something about the future price of grains..
I don't get your contention, it doesn't make sense my friend. I never claimed $14.20 was a few cents but I did state I am calling $14 give or take a few cents. The fact that we both recall some stacker here catching physical buy price of around $14.50 means that it's certainly possible for stackers to be able to buy when it hits right around that USD $14 mark. .
Pirocco, I am not going to read your whole message. Several years ago, I read an article where Tulving admitted that at times, he did not hedge. Anything else is internet speculation.
That article you've read years ago wasn't "internet speculation"? That page I linked, not my post, has alot data about the Tulving case. Maybe that illustrates a difference between you and me. I have no problem reading whole messages and visiting sources as to check if any contradictions or biases. Reality, is often more than an article, and a refusal to collect information is popular among those that start with a conclusion instead of information. If bullion dealers want, they can hold up their futures positions for years, holding silvers price artificially up that way, so that their customers have to pay more bucks / receive less ounces. What makes them dump their positions: when they are confronted with buy back requests. In order to avoid having to pay that artificially higher price, they quickly dump their futures positions so that customers receive less bucks for their ounces. In contrary to what is claimed alot times: hedging isn't like a sure safety umbrella. It's not hedging or not hedging. It's trying to have a correct hedge, meaning a hedge that is throttled to what is hedged against. That's taking additional / dumping existing positions, in an attempt to evade having to pay too much, or get too less, from speculators. Bring up that article you've read.
Next week according to my charts, silver prices will nose dive to such lows it will cost more to store and not be worth the shelf space it takes up.I predict they may let it go for the price of shipping and handling. Just saying although I could be wrong.
You made time to claim smthg about Tulving based on an unspecified article from years ago. That's your 'better thing'?