Market Curiosity: Exploring Markets And Systems

April 1, 2011

Silver update for April 1st

Filed under: Just Watching — Tags: , , — Jeff Fitzmyers @ 11:36 am

James Turk on silver backwardation: …we’ve gone from $27 to over $37, again about a 40% rise in price and the backwardation is still there. It hasn’t disappeared. So what that suggests to me is that there is tremendous physical demand for silver. This is a very, very rare event and it’s very bullish.

Once silver gets above 37.80 -38.00, I would imagine it will short a bit higher. And look at how each dip is aggressively bought.

Scotia Mocatta out of 4 of 7 silver offerings again. It has been out of at least one kind of metal for at least a month or 2.

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