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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: farkarooski who wrote (5573)	7/26/2002 9:51:20 PM
From: Henrik	Respond to of 8010

SSRI volume on Friday was 1.4mil - avg. vol 800k. Re. the drop in silver price - could this be the 'powers to be' (US Mint) playing with the price so they can buy 'cheap' for this new program. Will buy 9mil oz/yr. ============================================== Wednesday, July 24, 2002 Idaho New silver market opens as Bush signs coin bill Federal law to bolster reserves could help N. Idaho producers President Bush signed legislation Tuesday to create a new market for domestic silver in government-minted coins in what could be a boon to North Idaho silver producers. Sponsored by Idaho's two senators and U.S. Rep. Butch Otter along with members of two other silver-producing state congressional delegations, the law enables the federal government to become a net silver buyer for the first time in four decades. It permits continued production of the American Eagle Silver Bullion Coin and the preservation of dozens of jobs in the Panhandle. The initiative was prompted by news that the government's 730-million-ounce strategic stockpile of silver -- accumulated in the years immediately following WW II -- will be depleted this summer. Since 1986, about 10 million troy ounces a year have been taken from the stockpile, stamped into rounds by Sunshine Minting Co. in Coeur d'Alene and then struck by the U.S. Mint into 1-ounce investment coins. The mint is expected to buy up to 9 million ounces of silver each year to continue production. spokesmanreview.com

To: farkarooski who wrote (5573)	7/26/2002 9:51:51 PM
From: arizzzona	Read Replies (1) \| Respond to of 8010

Are 'they" just giving JPM & C a little breathing room to clear their PM derivative positions? Seems the decline was/is too steep -- especially given the macro scene with the markets and uncertainty. I know the dollar rose (a bit) but that has to be intervention. What I wonder is when will this "move" be done? (I can't call it a correction.) And after it's done how will silver behave? I'm bullish. Anyone with a long term view has to like some of these prices. Time will tell! -AZ