Silver Threads among the Gold: What the Tea Leaves Seem to Be Telling Us
Snippet:
The ongoing July silver (and gold) slam has a 2008 feel about it. Important data point elements are different, but there's an air of panic on the part of physical precious metals' owners. "Major trend lines" being broken to the downside; physical metals' buying (in the U.S. off significantly so far on the year; (some) long-term silver holders giving up the ghost and selling their metal below spot.
The ongoing July silver (and gold) slam has a 2008 feel about it. Important data point elements are different, but there's an air of panic on the part of physical precious metals' owners.
"Major trend lines" being broken to the downside; physical metals' buying (in the U.S. off significantly so far on the year; (some) long-term silver holders giving up the ghost and selling their metal below spot.
About the only thing we have yet to see – on a large scale – is "paper metal" being offered at a price well below what a customer would actually pay for the physical.
Thursday, July 26th
First published here: Silver Threads among the Gold: What the Tea Leaves Seem to Be Telling Us
