Thursday, February 24, 2011

Silver Market Color (SLV)

Just talked with a big precious metal dealer in the southwest U.S. to check the bid for silver eagles.

He said they have "a crapload" of silver inventory and are not interested in paying a big premium (i.e. more than +$1/oz over spot for eagles) to get more.

The zerohedge silverbug propaganda about how the world is "out of" silver (where did it go?) does not ring true and is the sign of a bubble.

3 comments:

Taylor Conant said...

What happens when the economic malaise ends and everyone is ready to exchange their silver into new fiat currencies to buy stuff with?

getyourselfconnected said...

Look I have no reason to doubt your source, but metal watchers I trust (excluding ZH) say very different things. I guess who knows.

CP said...

Man! The "precioussss" got hit hard today!

Looking to buy SLV puts on the bounce./