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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL -- Ignore unavailable to you. Want to Upgrade?

To: PaperPerson who wrote (4532)	1/21/2012 8:33:53 AM
From: PaperPerson	Read Replies (1) \| Respond to of 4690

Looking for answers on the astonishing all-day show of strength in silver This futures market report citing Eric Sprott coming in big in futures and inciting some desperate short covering before the weekend seems the most plausible. $$$$$$. FMX-Connect: As of the globex close, March Silver was up an astonishing 5.4% ($1.66) on the day, crushing big brother Gold (up .76% on the day). Silver was up an impressive 11 hours in a row, starting from 7 AM. Over the last week, and particularly today, silver saw heavy buying. FMX \| Connect Managing Partner Vince Lanci discussed the potential for a breakout higher two days ago in an interview hosted by Kitco News. Of particular note, when asked his opinion on Silver was “If you’re bullish on Gold you should buy Silver.” Today’s incredible move was the culmination of a comment made by UBS analyst Edel Tully. He stated that hedge fund manager Eric Sprott may be in the market buying spot futures in a private letter to his clients. With declining open interest in a rallying market, it didn’t seem likely to us, but over the last two days we noted open interest has flat-lined and started to turn upward, a bullish indicator. Intraday moves did not care about how the Euro did or how gold traded. When Silver crossed the 50-day moving average at 30.90 it left Gold in the dust. While thousands of Call butterflies traded in gold over the last few days,they ended the week essentially unchanged.. But the hundreds of calls purchased over the last few days in Silver proved to be big winners for longs with the May 40 Strike garnering the most interest. Finally, note the commitment of traders shows an increase in commercial shorts (an increase of 1,320). This means the bullion dealers have not thrown in the towel and this could just be a market fading away from an impulsive buyer. We’ll wait and see.

To: PaperPerson who wrote (4532)	1/21/2012 11:44:48 AM
From: PaperPerson	Respond to of 4690

US mint better stocked to supply silver coins in 2012: refiner January 20, 2012 - 12:43pm The US mint is better prepared now than in 2011 to cope with a surge in demand for silver coins, with a healthy cache of blank coins stocked to make investor and collector pieces such as the Silver Eagle, said Terry Hanlon, president of Dillon Gage Metals. He noted that the Royal Canadian Mint has prepared itself well with gold coins, but is struggling to meet demand on the silver side. Hanlon noted that in terms of business, the precious metals refiner and broker is seeing roughly equal value in both its silver and gold business, and noted that the physical business is "very active." Regarding investment trends, he said that the large mints are missing out on an opportunity to sell bars, and that this is leaving an opening for the smaller mints, what he calls "backyard mints." He said, however, that on the downside, there is less value held by unknown hallmarks issued from the "backyard mints."