Richard:
Consumer and retail demand will drive the price at the margin. However, it will be predicated on the improving supply/demand phenomenon, now some 7 or 8 years extant. Worldwide demand, especially in the East, is growing despite a bit of distribution from the retail crowd in India. This, however, will be short-lived as the silver fundamentals overpower any consumer distribution; they cannot be denied beyond that critical juncture reached in 1997. At that moment, it will become recognized, that indeed, silver is in a bull-trend, and consumer distribution in the East will become accumulation, as well as on other parts of the globe.
Yours, T.V.H. |
