Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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Dec 19 4:00 PM EST

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To: GROUND ZERO™ who wrote (21939)	7/22/2011 1:42:04 PM
From: Honey_Bee	2 Recommendations Read Replies (1) of 220480

I don't know about a correction, but take a look at this: A New Catalyst for Silver Prices The Hong Kong Merc's entry into the silver-futures market is a game-changer - for a number of reasons. For one thing, the emergence of a new market player will effectively neuter U.S. elitists like those at the Chicago Mercantile Exchange (CME). I specifically mention the CME because that exchange unilaterally raised margin requirements on silver by nearly 100% in a mere eight days this spring - after silver prices had roughly 150% between late August and the end of April. The CME action helped cause silver prices to plunge by 30% from its recent highs. It hasn't recovered. [ Silver was still trading in the $39-an-ounce range as of yesterday (Thursday), according to *Bloomberg LLC* .] Longer-term - and probably even more significantly - this move will help investors in China and India buy into bullion. In fact, this will be the first time Chinese (and many Asians in the surrounding markets) can purchase silver-futures contracts and, by implication, take delivery. Historically, investors in those markets had to purchase CME-based contracts that are standardized and traded through the Hong Kong Futures Exchange - in accordance with the Chicago-based CME. Read more: moneymorning.com

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