Silver keeps getting battered
After 3 weeks of serious beat downs on the silver price, there seems to be some stability. That being said the old boys are up to their tricks again. The guys who currently "fix" the silver price are bowing out.
According to Reuters, the London Metal Exchange (LME) have thrown their hat in the ring to manage the "fix " of the silver price. Apparently, they will be replacing CME Group and Thompson Reuters in "fixing" the silver price.
So all you stackers out there who have seized on this buying opportunity, keep buying. Because the price is so low demand for bars and coins is actually falling in the US. Falling demand means more falling prices. The day will come (maybe not in my lifetime) when silver is finally free from the grip of the "fixers" and the market will actually set the price.
On that day I would have hoped to bestow on to my descendants a wealth that I could not possibly dream of.
Silver is like Rocky Balboa. They keep hitting it hard and it keeps dropping to the floor with the weight of all these paper future contracts that can never stand for delivery. So to all my stacker friends . Until the "fix" breaks, keep stacking.
COT report showed highest shorts in history and it was best to hedge your position at that time. Miners aren't making new lows yet, but expect a bottom in the summer after a relief rally. Still alot of bullishness in the readings for a bottom to be in place. Plus seasonal trends show further weakness. I love Silver and am buying the dips as per my own posts...
Good luck and will follow you. TT
Thanks for reading and for the follow. I look forward to reading your posts as well.
Check out another view of the precious metals complex moving forward.
Dont forget to upvote :)!
https://steemit.com/silver/@sjovmaiin/gold-silver-and-the-correlation-to-oil-and-the-us-dollar