…cause today we are resuming a little move up, not so little for silver, which is actually acting better than gold in percentage. Gold is encountering more problems to get the resistance level of 1350$ behind his back much more than silver had to do for the 21$ mark. More news are pointing toward delivery problems from Comex and JPM for gold bullion. It will be very interesting if JPM is forced to buy the presumed 70,000 oz of gold in the open market. Also, if gold surpasses, or even get closer, to the 1350$ level a cascade of triggered short covering will hit the market and push gold higher much faster. Then we can have a trigger for a short squeeze in Pm’s that will look huge on the chart.
let’s hope is this the right one, the game changer that I have written about for 3 months+…
Despite all this, premiums are stable, maybe will go down a bit soon for inventories reasons, numismatic still going down 5$ in the lower grades despite gold is up. I think at these levels they are a good buy with very low % premiums over the gold spot! More updates later, after trading hours, ciao!