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<p>[QUOTE=&quot;NorthKorea, post: 1569504, member: 29643&quot;]For starters, WHY? Why are you watching the daily inventory? Why have you done it for a year?</p><p><br /></p><p>Next, WHO? Who is affected by retailer inventories? Who is buying?</p><p><br /></p><p>Now, with those major questions out of the way, we go to WHAT? What are you hoping to get out of this thread? What is your point about decimated inventories? What do you read into it?</p><p><br /></p><p>Again, you&#039;re talking about precious metals retailers. They&#039;re in the business of selling metals. When their inventories go down, that&#039;s simply an indicator that they don&#039;t feel pressure to boost inventories. Perhaps there were indicators in house for APMEX that there would be a silver buying season among retail speculators. I&#039;m not privy to their supply chain management decisions in house. I doubt you are either.</p><p><br /></p><p>Since we don&#039;t know the supply side decisions on inventory control, the logical assumption is that inventory is largely controlled by the demand side of the equation. APMEX (and arguably every PM retailer) has a goal of making money. They don&#039;t make money on the fluctuation of the price of the metal. They might make some on the velocity of the metal&#039;s price rise/decline, but that would be determined by their hedging strategy.</p><p><br /></p><p>This all means... RETAIL INVENTORY NUMBERS FOR PRECIOUS METALS RETAILERS MEAN NOTHING.[/QUOTE]</p><p><br /></p>

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