Afternoon everyone….
Well metals took a complete beating yesterday. That was a very strategic move by the big boys continuing to manipulate the silver market. In the last 4 trading days, the CME has increased the amount of capital investment firms must put up to keep their positions in silver.
These investment firms only get one hour to transfer the funds to the CME to keep their position. If it is not met their position automatically gets liquidated by the system which means a complete sell off of what they hold. This is what caused the massive sell off yesterday. Even with the massive drop in both metals, you can’t buy anything even close to spot price. The best price that I saw looking quickly was $98 for an ASE. That’s a $13 premium.
Hold steady the Shanghai silver price is still $123 an ounce. So this drop can’t last.
These bars are really quite cool. They have a brushed finish on them making them look unique. Most bars are really shiny and are typically pressed and boring. Not these bars, they even come with a serial number and are numbered. They are from Italy.
Here it is….
What do you think?