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

To: TheSlowLane who wrote (324)	9/17/2003 8:48:57 AM
From: orkrious	Respond to of 1281

fleck addressed this in a recent Rap. this is what he said: Whys and Wherefores of an Ore's Oddity: Oddly enough, the precious metals were weaker, with gold down 1% and silver down at one point almost 3% before closing just a shade better than that. Silver's decline is a perverse turn of events, given that out one year, it is now in backwardation, meaning that you can buy silver one year from now at a slightly lower price than you can buy it for today. Said differently, if you're trying to sell it out one year, you'll receive slightly less than today. That is a result of a rather large amount of producer selling absorbed by the market in the last couple of days. While the selling may be a negative development in the short run, it's probably positive in the longer term if that supply has been cleaned up. In any case, I think that accounted for the wacky action we saw this morning.