Is it because shorts can't get out?
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| Chart 1: COMEX Silver Stock |
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| Chart 2: APMEX 100+ silver coin premium |
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| Chart 3: APMEX 1-19 silver coin premium |
dinsdag 5 februari 2013
Eligible Silver Spiking Upwards
Something must be wrong here. Why is eligible silver rising at such a high pace, while registered silver doesn't budge? This trend can't last...
If we look at the premiums on APMEX, we get this. 12% and 16%, which are pretty high premiums lately.
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Is this in theory bullish or bearish for metals?
BeantwoordenVerwijderenThe premium is bullish for silver.
VerwijderenNormally the high open interest in silver is bearish for silver, because shorters want silver to go down. But in this case we have shortages and don't know how it will blow up by short covering.
I'd say overall I'm still bullish on silver.