Silver Breakout?

in #silver6 years ago


Source: kingworldnews.com

The silver short positions are still at an precariously high level even though the short contracts on the COMEX have come down. Based on the reported numbers, the short position has dropped by behind the scenes the contracts have been transferred (through the EFP mechanism) to London.

With the spot price of silver breaching $17, the holders of the short contracts are likely sweating as they stand to lose some of their wealth unless the PPT can beat the price down as is the usual case.

I am hesitant on posting articles on the likely movement of the price of precious metals as they hardly ever pan out. I believe this is due to the manipulation of the commercials to beat the price down. It is critical that the price of the metals to be maintained at a subdued price, if it breaks out there will be major losses and it would probably dire for the economy.


Source: kingworldnews.com

The charts are indicating that this maybe the start of a breakout. The GSR is showing signs that the trend is reversing. The GSR has been above 80 for the past days and 80 has been shown to be a ratio where the trend reverse, this is based on past activities. Since 1915, this is the third time the ratio has broached 80. After hitting above 80, the ratio dropped over 50% before recovering.

Recently there has been reports that claim the silver mine output is dropping and the industrial demand for silver is up. If this is a trend, this will exacerbate the rising price of physical silver. News regarding the shortage of physical silver has been a staple for the financial pages for the past year. As news surfaces about countries global falling into economic slumps to the point of civil strife, this breakout in the metals may hold some merit. As countries begin to look for a way to stabilize their fiat currencies, they are realizing that they need to base their currency on something other that the faith and goodwill of their country's future earnings.

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Yeah, it's all fake and all they have to do is pump more paper at it. the whole systems based on nothing the only thing that is real is physical and if you do not hold it then, you try getting it from them most won't get delivery. Only they know where the price is going and when. plus those with the biggest pockets drive the market a bit like here on steemit.
Great post though but no telling but i do believe the system as a whole is dead and thats why china and russia been buying pm's.

Unfortunately, I think you are 100% correct.

Whichever way it pan's out I have no doubt as well that those behind/causing the chaos, will offer their solutions and everyone will fall for it.

It's called the Hegelian Dialectic.

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