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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (10269)3/16/2004 5:55:35 PM
From: russwinter  Read Replies (4) of 110194
 
<why would silver producers want to suppress price?>

There's an important distinction about these commercials: they aren't producers. I've seen the names of a few of them in the different writings on the topic, and they are not names I recognize. There are eight firms (variously described as bullion dealers, and "trading houses") involved in the big silver sales. Maybe someone else has further detail they could post about this band?

Silver producers of course hedge too, but it's a small part of the puzzle. At one time ABX (who does has silver production to deliver: covered)was an aggressive silver forward seller, but I believe they've backed away.

It's the size of the sales (487 million oz last COT) relative to the physical market, inventories, and annual production (550 million oz) that sets off the alarm bells. Far greater than any other commodity. Silver intrigues me because I do think it's now in very short supply, and this naked short position, yum, show me the silver.
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