44,000,000 Ounces Of Silver
So far in a couple weeks of trading the silver ETF has already purchased 44 million ounces of silver, quickly on the way to the proposed 130 million ounces.
The question at present is whether or not that silver is already in physical form or if it is a paper contract waiting for delivery.
We have seen gold continue it’s march upward this last week and silver stalled out. Should be interesting if this silver is being delivered at the end of May. I think we are seeing at present the dealers making a last ditch effort to not lose their shirts. The great news for silver bugs is that the more the price is held back, the higher it will explode.
The ETF, the short position, the worldwide demand, the new uses, and last but not least the return of silver as a good investment, add up to an explosion that could rock the financial world. We have recently been seeing silver move up and down over $1 a day, something unheard of till recently. $10 a day swings is just around the corner and $100 an ounce silver could be this year.
It’s a great market no one really has an idea. Hang in there. The fun is just beginning.
