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<p>[QUOTE=&quot;Cloudsweeper99, post: 842282, member: 3011&quot;]Since the vast majority of speculators purchase or sell futures contract with absolutely no intention of delivering or taking delivery of metal, the spot price is not a true indication of the real price.&nbsp; It makes no difference that some people buy and sell at this price.&nbsp; The market is dominated by the speculators.&nbsp; You might consider this to be irrelevant.&nbsp; I don&#039;t. Buyers and sellers who never complete the transactions in the physical world obviously aren&#039;t as interested in the economic value of the metal as they are on trends and basis.&nbsp; Obviously we have different standards for analysis, and that&#039;s okay.</p><p><br /></p><p>I&#039;ve been watching the inventories of silver shrink for years.&nbsp; For the past year or so the supply and demand seem to be in balance -- perhaps due to the recession and a couple of new large mines coming into production.&nbsp; We won&#039;t know for some time yet. There won&#039;t be a &quot;shortage&quot; in the sense of the absence of silver as long as the market price is permitted to adjust.&nbsp; Instead, the price will rise.&nbsp; The numbers are there for you to look at.&nbsp; So is the London silver default.&nbsp; It really doesn&#039;t matter to me if you choose to do the analysis or not or use a different approach.&nbsp; I just want to point out to others who might read the thread what I think is important to watch.[/QUOTE]</p><p><br /></p>

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