http://www.stuff.co.nz/business/market-data/4862817/Gold-pulls-back-from-record-high "Chronic oversupply." WTF? I'm not saying the article is wrong. I mean, can there be a shortage of silver bullion for investment purposes, but enough to meet industrial demand? Sounds like crap to me.
see the implication weaselled in the juxtaposed assertions: On fundamentals, industrial demand for silver is expected to rise less than 10 percent this year, and after prices more than doubled to 31-year highs since late 2010, the head of metals research and consultant GFMS said on Thursday the author leaves an inference that the rise in price will dampen demand I would think a real fundamental for silver is lack of supply, as it is mostly mined as a byproduct of base metal ores anyone know any estimates for military demand for silver?
There are a lot of people trying to talk silver down so they can get back in. A prime example is Dave Morgan, who I suspect sold out of his position and took too long to get back in, and now is caught with his pants down around his ankles.
I just watched this video: http://www.youtube.com/watch?v=F2FrVtL8NK8 And David morgan is on it, march 4th, 2011 saying he is more bullish for silver for the coming decade than he was for the previous decade - 4:20. Where does david morgan say he is not longer of the same opinion?
I've listened to him several times in the last month. He's been bearish in the short term, very much so, and completely incorrectly it turns out. Of course he is always bullish in the long term, but who cares about that?
I think a the majority of bulls on silver expect a short term correction. I certainly do and will be dipping into savings when it comes around That is quite different from being 'caught with your pants around your ancles' IMO. Maloney too suggested a pull back is likely. It may or may not happen.
Well, Morgan has been calling for a pullback since $30, so we'll see. Even a broken clock is right twice a day.
LMAO, if there was an oversupply of silver. We wouldn't need to be trading these worthless pieces of paper around for money known as fiat. We'd actually use the real thing as money. Typical rubbish main stream media propaganda. Slam
I don't think that was the point of the article. It didn't actually say there was oversupply, just that silver had the image of being volatile with oversupply - probably because 15-20 years ago oversupply did exist and it takes a long time for people to change their mind about something.
The members on our forum have more silver than JPM "chronic oversupply" - hehe It would be in our interest to pay those journos to publish those lies !!!