Silver is holding up really strong these days

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swissaustrian

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Despite gold's violent crash on Sunday evening, silver is unchanged on the week. This is quite remarkable, since it usually falls more than gold. It seems there is very limited downside in silver, miners arent making any money at these prices, with costs > USD 18, in most cases > USD 20.

Look at the two charts, quite a difference between gold and silver.
:silver: :silver: :silver:

29pq3qg.gif


6xq4p1.gif
 
Well, China isn't needing to buy silver on sale like they need the gold. /crazy talk

Seriously though, that's good to see. News (and blogosphere chatter) have been indicating tightness in the physical silver markets for a while now.
 
Someone is dumping the hell out of a lot of paper to cover their ass somewhere else.
 
maybe the guys who got out at $29 were right.

on the other hand- my physical stack is still as pretty as ever.
 
Penn, the paper price is meaningless. Don't sell shit. Hold on and wait for it. Summer is always deadsville.
 
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