we seldom observed new thing in silver, this one pointed out is clear observable new, we have the feel...but presented in clear view it is a rare one there is always something fresh to learn the old one is also worth mentioning about WB purchased 129Moz of silver on the 50% supply draw down ongoing accumulations
I’m a little confused about the silver stored Comex. Shouldn’t less silver stored at Comex be more bullish for silver because inventory is lower? It’s like palladium, super low inventory at Comex so higher prices.
https://www.silverbullion.com.sg/Articles/Detail/The-Resurgence-of-Silvers-Monetary-Role/1967 we were only told long after those silver were long used up, so there is no way to determine when the ware house were emptied bare SUA would knew this, as silver consumers band together to guarantee their silver usage...as some form of ready supply a contestable supply, to prevent miners from charging more
For me silver is a hedge against gold. If the price of gold rises beyond US$2500, I expect gold to be affected by the reimposition of GST or VAT and all sorts of crackdowns in the future. This will drive people to silver as it is happening right now in India. Since silver is a small market (only tens of billions), it won't threaten national currencies, just as they (governments) don't feel threatened by bitcoin. But gold, a trillion dollar market, is a different ballgame. The world has changed a lot since the early 2000s and 1970s. A lot of governments are now heavily in debt with boomer pension liabilities coming due, they can’t wait to tax gold.
And with the massive increases in welfare and war spending that Trumpty wants, the Republicrats cant wait to move that pesky debt ceiling. An unlimited credit card and a dream come true! They are lubing themselves up even as things crumble and giggle about how good it is for America. The progressive mindset has taken hold.
It is not an Investment. It is INSURANCE. Big difference. Did you buy at .28 ?? I bet you like $#!TC@!N too
When did I buy? The same day I first posted about it - 19th July... (ie the same day you suggested paper silver was a bad idea LOL)
I just wish I had an extra year to accumulate more than I have already but at least all of us members here have more than the general population!
NZ Reserve bank just dropped our OCR rate to 1% which has taken the market by surprise and our $ has also dropped 1c v US$ so an ounce of silver now over NZ$26
It's great to see PM prices moving up, but I'll get more excited when it not a combo of USD price and AUD currency fall pushing up AUD prices up, just straight USD price increases.
SVL has more than doubled in approx 3 weeks... 15.5c today. Some stunning gains being made in 'paper' silver.
