Quick update with PM’s performing good in the past few trading days. Gold is also looking bullish now that is trying to move above the 50 MDA, a very good signal, as per silver, flirting with 23$ after passing resistance at ~ $22.50. We also had consistence physical demand since the bad job numbers few days ago, I bet Bloomberg and MW and similar commented with the famous ” unexpectedly” what we been witnessing for long time: a mirage-recovery. And at least for this month (… and longer) you can take to the bank that tapering and cutting the heroin money supply, is OUT OF THE QUESTION, no matter how much Ben’s bear would like to fool us at his monthly P.R meetings of the FOMC.
Physical moving well: ASE are always going out of the door almost all the same day the come in, or just about. Probably this year will be a new record year for ASE set to outperform 2011 numbers. Krugerrands are getting back in our inventory at regular levels. Lots of AGE trades as well. I would not be surprised to see soon premiums for silver ( and marginally also gold) moving a little higher judging the recent ASE market. Cheer.