Saturday 28 January 2012

Silver..................from Rico

Spot silver closed today at $33.85/oz. One year ago today it was $27.08/oz.
- Well...paper Silver anyway. Try finding any physical Silver, and if you can expect to pay a 'premium' over this artificially low and heavily-manipulated 'spot'...and be a good sport and let Eric Sprott where you found your Silver, would you? With production rates falling, and demand rising, he's having one heck of a time getting his hands on the physical stuff. I rather admire him for his efforts, and for being honest into the bargain...it's much harder to acquire and hold physical [PHYS, PSLV] than it is for the crooks he's competing with [GLD, SLV] who can so easily create paper holdings with a computer-keystroke.

Meanwhile, those of us who aren't billionaires like Eric are buying American Silver Eagles and Canadian Maple Leafs as fast as possible.
- Look at these charts of domestic mine production and domestic demand for Silver coins and decide for yourself where this is headed.


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