http://news.silverseek.com/TedButler/1252075929.phpI found this article this morning and wondered if this might be the answer to the fast rise in metals this week. Comments anyone?
Good find there Yankee thanks for sharing. I believe China has a huge roll in the bullion markets. With them and India as the largest gold consumers. With China's push to shift from the US dollar to another currency watch out. I watched the talking heads on the cable networks. There lost and confused about this latest upswing in the bullion. No one is talking about China. At least on air. As for those holding the COMEX silver shorts. They will take it in the shorts when the demand for the metal they hold is is just that only paper. Then the mass scramble is on they will be forced to buy silver at whatever price to cover their paper. I've been watching this for a while and shifted to purchasing bullion silver in the past couple of months. Another good place for silver info is www.investmentrarities.com There is more writings from Ted Butler about the silver markets there.
I found it interesting when last Thursday when gold was rising fast CNBC removed their gold ticker I guess it could have been a technical problem.
It seems almost a certainty that the contracts will be settled in cash, not by a mad rush to buy silver to cover. This has been done before in the commodity markets. Don't expect the regulators to just sit there and watch the market come unglued. They'll change the rules, just as they always do. That said, yes, the China story is no doubt at least part of the reason metals are up this week. But also keep in mind that gold and silver have been rising for 8 or 9 years due to basic fundamentals.
