Wednesday, September 17, 2008

Commentary on Silver and Gold

Just talked to my metals broker. They have no silver in inventory right now. May be getting some on Monday. Their price is 3 above spot if they do. But they were supposed to get some this Monday and didn't.

They do have gold; there is plenty of depth on gold. They are asking ~912/oz for Maples and ~916/oz for Eagles.

The metal selloff seems mainly electronic, just like the oil & gas selloff. There is not an abundance of the physical.

1 comment:

Unknown said...

That's the same story my wife's silver guru was telling her throughout the whole price collapse - "I tried to buy physical silver and there's none available" - therefore the collapse in SLV and other securitized versions would correct quickly. She lost $40k listening to that tripe. Who knows why you can't buy physical silver, but at this point it obviously has nothing to do with the market price of silver.