Author Topic: 6/6/11 Massive Drain of Comex silver/almost all gold and silver settled by paper  (Read 2031 times)

Offline Silver surfer

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This was some VERY interesting news I received today.
I was aware of PM's being in demand for quite some time,especially as slv prices went parabolic in Mch/Apr before the manipulated crash,however,I wasn't aware that such massive amounts of wealth have been moved SO recently from gov't backed bonds and paper to physical PM's. The COMEX vaults are being emptied of gld/slv amazingly fast and if this keeps up,the vaults would likely be completely emptied within 5 months.If that happens,you can surely expect silver and gold to go insanely high.
If you haven't gotten on board the silver train yet,don't wait any longer to do so.

http://harveyorgan.blogspot.com/

Offline excaliber

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well you would never know it with price right now,,,, I guess no one else knows this, I'm anxiously waiting the big Rise, I bought quite a bit of silver
when it was around $36.00 ( right where it is now) it went up to right at 50 then the bottom fell out, I thought it would recover quickly and push on up, Guess I was wrong. but I still have high hopes, so I am holding till 80 or bust.

Offline Silver surfer

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well you would never know it with price right now,,,, I guess no one else knows this, I'm anxiously waiting the big Rise, I bought quite a bit of silver
when it was around $36.00 ( right where it is now) it went up to right at 50 then the bottom fell out, I thought it would recover quickly and push on up, Guess I was wrong. but I still have high hopes, so I am holding till 80 or bust.

Right now,spot levels are still mid thirties,sometimes bumping $38ish.However,all online prices from coin shops,eBay and other places to buy silver do not reflect the spot price. I have seen very few places still offering silver for $2 over spot and when I DO,they're out of stock. I have lately been getting rounds and silver eagles for about $42-$46 shipped and to find them lower is nigh impossible. I currently have about 136 ounces of silver and have no intention of turning silver into paper at all unless some critical emergency came up(large,critical house repair) where I had to have a goodly amount of cash to pay someone who takes only FRNs.However,I HAVE been selling copper bullion at a profit so I can buy more food and medical items for stock up on.

Offline mactexas

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Right now,spot levels are still mid thirties,sometimes bumping $38ish.However,all online prices from coin shops,eBay and other places to buy silver do not reflect the spot price. I have seen very few places still offering silver for $2 over spot and when I DO,they're out of stock. I have lately been getting rounds and silver eagles for about $42-$46 shipped and to find them lower is nigh impossible. I currently have about 136 ounces of silver and have no intention of turning silver into paper at all unless some critical emergency came up(large,critical house repair) where I had to have a goodly amount of cash to pay someone who takes only FRNs.However,I HAVE been selling copper bullion at a profit so I can buy more food and medical items for stock up on.

Check Tulving.com for the best silver prices. They have stock.