Thursday, June 28, 2012

Silver Settles At 19-Month Low

"[A]s silver has fallen below $30, instead of SLV holders acting all fearful and rushing the exits, they have been doing a little dip buying instead. For example, in late April with silver then near $30 and threatening to break lower, SLV reported holding 9,552.14 metric tons of silver metal in their London-based custodian’s vaults,' he said. '“Today, as we write, with silver trading either side of $27.00, not far above its $26 implied support, the silver trust reports holding 9,875.75 tons, or more than 323 tons more silver than in April...'"
I'd be a buyer again in the $5-10/oz range.


Stagflationary Mark said...

I'd be a buyer again in the $5-10/oz range.


CP said...

Yes, that's the ticket.

We could be hoarding PRB coal for $0.50/mmBTU....?