Monday, March 03, 2008

Silver prices are like the Borg, Resistance is Futile

You always know it's going to be one of those volatile days when Kitco continually fails to load for you, fortunately we are to the upside. and whats that? "Ding, Ding, Ding, Ding"

That's the bell telling you silver is up another 2.5%+ and sitting handily over $20 at $20.30 at noon. I wish my window at work faced the Scotia Bank tower, I really want a ring side seat the day mania sets in and the line forms around the building like it did in last precious metals boom

So what's going on to fan this sudden interest? Well Jeffrey Christian the CEO of CPM Group in New York says a new influx of investors buying physical silver is the root cause of the recent run up.

With the ETFs holding so much bullion the new physical investor is making a large impact and probably giving the silver shorts nightmares. This is the time to buy if you have not already, it could be your last chance.

At these levels of supply/demand coin shops, banks and private mints are having a hard time meeting their orders. From other articles, private correspondence and what's available on various web stores it looks like the amount of silver available for us peasants who can't afford to buy 1000oz bars is becoming limited. One site I made a few small purchase from has had nothing of note for months, gold or silver!

Another note of interest, someone brought to my attention that BNN has finlay returned silver quotes to their ticker and actually did a silver round table today

The silver story is real, it's finally being noticed and the sky is the limit for price!

Be one with the Borg before it's too late, the last one assimilated to the silver story gets to buy mine as I bail out.

1 comment:

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