What is your problem? I've been in physical gold and silver since 2003. I'd put my knowledge of the metals and related markets against yours any day. I was also on the old GIM site under a different name, probably for longer than you.
stocks overall are down some, but nothing major going into a monday, which historically can be a kick butt day after late week weakness the prior week if something was going down
then you have the buck, which is flat right now, not really tipping anything either way
The towelheads did the same thing to our oil markets and drove up the price by purchasing call options on their own oil. I remember $4 gasoline and no reason we should go back other than politics. Now $40 silver makes more sense and will torpedo the solar market.
$40 silver happened in 2011. So that's old news. You want my attention now you gotta do better than $80. And maybe not even then--depends on how fast it moves, the gold/silver ratio, and what is happening in the economy.
I'm sure they will trash me if they can. But my point is maybe, just maybe, a light will shine on their huge short that they have used to keep silver longs trashed. Best chance yet, IMO.
I still have the silver mercs I pulled from my lunch money and replaced with clad back in the 60's. It took 3 of them for an elementary school lunch. Cool if I can get surf and turf for one of them.
To our valued customers, APMEX Statement On Current Market Conditions:
In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.
Any Precious Metal dealer will take a long position in the futures market to protect against spot price exposure when the markets open. We do this because it is our goal not to take a speculative position on metal. The weekends are unique as we are not able to real-time hedge our position. We took an aggressive position this weekend, but clearly could not have predicted the volumes that were seen. We have partnerships around to world that allowed us to cover these long positions, but only to a point. Once we exceeded our comfort levels, we had little choice but to stop the sale of Silver on our website. This was a difficult decision to make and unprecedented in our history.
As we evaluate the markets, it is difficult to know where Silver's price and demand will go in the coming day and weeks. APMEX is highly capitalized and has more than $150 million in inventory to support demand. We have made strategic decisions to procure additional metal, locking up any metal we can find in the market place. We suspect premiums will rise and rise quickly, as we are seeing significant increases in our costs, when we can even locate the metal. It is also highly likely that we will need an additional day or two to fill orders based on current order counts. The one guarantee we can make to our customers is that you will only be sold metal that is on-site, or we have procured the metal with a firm commitment date from our partners. In markets like this, we feel this is the best approach a retailer can take, as no one can predict product availability.
We want to thank our customers for their patience and understanding during these turbulent times. APMEX prides itself on best in class service and delivering on promises to our customers.
To our valued customers, APMEX Statement On Current Market Conditions:
In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.
Any Precious Metal dealer will take a long position in the futures market to protect against spot price exposure when the markets open. We do this because it is our goal not to take a speculative position on metal. The weekends are unique as we are not able to real-time hedge our position. We took an aggressive position this weekend, but clearly could not have predicted the volumes that were seen. We have partnerships around to world that allowed us to cover these long positions, but only to a point. Once we exceeded our comfort levels, we had little choice but to stop the sale of Silver on our website. This was a difficult decision to make and unprecedented in our history.
As we evaluate the markets, it is difficult to know where Silver's price and demand will go in the coming day and weeks. APMEX is highly capitalized and has more than $150 million in inventory to support demand. We have made strategic decisions to procure additional metal, locking up any metal we can find in the market place. We suspect premiums will rise and rise quickly, as we are seeing significant increases in our costs, when we can even locate the metal. It is also highly likely that we will need an additional day or two to fill orders based on current order counts. The one guarantee we can make to our customers is that you will only be sold metal that is on-site, or we have procured the metal with a firm commitment date from our partners. In markets like this, we feel this is the best approach a retailer can take, as no one can predict product availability.
We want to thank our customers for their patience and understanding during these turbulent times. APMEX prides itself on best in class service and delivering on promises to our customers.
To our valued customers, APMEX Statement On Current Market Conditions:
In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.
Any Precious Metal dealer will take a long position in the futures market to protect against spot price exposure when the markets open. We do this because it is our goal not to take a speculative position on metal. The weekends are unique as we are not able to real-time hedge our position. We took an aggressive position this weekend, but clearly could not have predicted the volumes that were seen. We have partnerships around to world that allowed us to cover these long positions, but only to a point. Once we exceeded our comfort levels, we had little choice but to stop the sale of Silver on our website. This was a difficult decision to make and unprecedented in our history.
As we evaluate the markets, it is difficult to know where Silver's price and demand will go in the coming day and weeks. APMEX is highly capitalized and has more than $150 million in inventory to support demand. We have made strategic decisions to procure additional metal, locking up any metal we can find in the market place. We suspect premiums will rise and rise quickly, as we are seeing significant increases in our costs, when we can even locate the metal. It is also highly likely that we will need an additional day or two to fill orders based on current order counts. The one guarantee we can make to our customers is that you will only be sold metal that is on-site, or we have procured the metal with a firm commitment date from our partners. In markets like this, we feel this is the best approach a retailer can take, as no one can predict product availability.
We want to thank our customers for their patience and understanding during these turbulent times. APMEX prides itself on best in class service and delivering on promises to our customers.
if people are willing to pay 40$ a ounce for physical...........paper buyers will start taking delivery and converting it to retail silver.........very simple
the paper market only works as long as you swap paper for paper........when someone wants the real stuff that is promised by the paper it will balance very quickly....it usually takes a 30day or more set for paper to start demanding delivery of physical
and with manipulation through the push of a button and a few emails, those are not really efficient methods and that button push can happen hourly if required...
i'm very curious to see if this 'play' will actually happen and if it does, and over-rides their ability to manipulate, then i'm going to wait for the game to be gamed and simply with the push of a button, shut down...
spot price can still be manipulated and run up and down to make those pretty charts and graphs, on a whim, while those who 'are in' can be basically locked out and any trades become reversed...they've already threatened to do so...
so, it's plausible what you guys are saying but
i don't think so...
but, o.k.
i'm just off to watch and throw some cents into this because i believe the euphoria is being led...but i'm not certain by whom
What is your problem? I've been in physical gold and silver since 2003. I'd put my knowledge of the metals and related markets against yours any day. I was also on the old GIM site under a different name, probably for longer than you.
Game changer if/when industrial users start locking up supply in light of all the physical demand. Could also see miners with minting ability (AG) expand physical sales and bypass crimex if prices continue to be monkey hammered.