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Gold/Mining/Energy : Silver prices
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To: paul ross who wrote (5238)5/26/2002 12:17:02 PM
From: Little Joe  Read Replies (3) of 8010
 
I think there is a fallacy in his position. It is that the futures market drives the price of silver. I think logically the cash market has to drive the price. If demand is truly exceeding supply, those who need the silver will buy it in the cash market and drive the price up. If they can't get it in the cash market they will go into the futures market and stand for delivery in which case the shorts have to come up with the silver which means they have to buy on the cash market unless they have silver. Butler does not seem to understand the basic law of supply and demand. If demand is exceeding supply, where is the extra silver coming from to keep the prices low. His position makes no sense to me.

Little joe
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