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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (16741)	4/4/2011 4:52:12 PM
From: rubbersoul	2 Recommendations Read Replies (1) \| Respond to of 218928

Eric Sprott on KWN: kingworldnews.com "When asked about shortages in silver Sprott responded, “Of course physical shortage is a key item. The one thing I like to focus in on is just to watch the buying of silver for investment purposes. As we’ve discussed before I think the people who were supposedly experts on silver have massively understated the investment demand for silver. As an example when I look at the US mint...people are buying silver at the same dollar rate as they are buying gold which is a stunning comparison when you realize that the availability of gold for sale for investment purposes each year vs silver that’s available for investment is probably a ratio of something like 8 or 10 to one. There’s 8 to 10 times more gold available to buy. As an example one of your guests James Turk who runs GoldMoney, I think he sells more dollars of silver than he does gold now per month. At SprottMoney we sell way more dollars worth of silver than gold. So I just see people coming in here with their wallets, voting on the metals and I think the vote is overwhelmingly in favor of silver.” When asked about the paper silver market Sprott remarked, “Well, you know what goes on on the Comex is never easy to understand. Every day we trade something like 350 million ounces of silver on the Comex. 350 million ounces when we produce something like 900 million a year and there’s only one thing you can conclude from that, the people trading it have no interest whatsoever in physical silver because it’s just way bigger than the market needs to be. Who the hell would be trading that amount of silver other than somebody working in the trading room in the sky? So I think the people who trade the paper trade so much more than is produced every day that they were so far able to contort the market, and it looks like the physical buying is now going to upset that former control they had over things.”