Market Curiosity: Exploring Markets And Systems

March 24, 2011

Silver backwardation over at the LBMA, fed thinks wet sidewalks cause rain

Filed under: Just Watching — Tags: , , , , , — Jeff Fitzmyers @ 9:13 am

CIGA Keith via Jim Sinclair’s Mineset: Regarding the March 15th FOMC statement: “The recent increases in the prices of energy and other commodities are currently putting upward pressure on inflation.” The Committee is also of the opinion that wet sidewalks are the cause of rain.

The COMEX still has an 80 cents overall backwardation.

The 2008 12 month SIFO backwardation lasted 11 days and silver rose another 14 days. If 2011’s pattern is similar, expect a silver rise to mid April. I don’t know, but as Mr Ferguson pointed out, it’s currently likely a good idea to be long the last 10 days of each delivery month. I don’t think the CME has posted today’s delivery notice.

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