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ZH bearish
Out with a couple premium articles saying silver is going to get trashed. Here I thought selling off 10% in 2 days was getting trashed, but I guess it’s going to get a lot worse.
ZH has been bearish on the SM for pretty much the last 25 years, for what that’s worth, but now that we’ve settled the Shanghai pricing issue and the shortages, they’ll probably get this right since we’re back to a paper driven market. Awesome, just awesome.
If Shanghai adds a 13% VAT to the silver price
then there’s no issue with the difference between Shanghai and Crimex, and no arbitrage to be had by anyone. In fact, today’s pm fix dropped to $82.11, subtract 13% from that and paper should drop to the mid $71 area.
In conclusion, paper is setting the actual price. Shagnhai then should have to adjust down to meet the Crimex paper price.
I believe CPM is Jeffrey Christian’s company. Remember him from the old days, GATA didn’t think highly of him because he was a defender of the bankers and claimed there was no manipulation.
Regardless, if they add the 13% VAT, then that’s what they do, and there’s no debate about it.
Asian Guy has been going on about nothing.
Maddog
Could be a concerted effort by the scum…….
FWIW, a quick blurb about it from Bob Moriarity……
Due to silver and gold rebalancing in big commodity funds, the metals will be weak for a few days as the funds finish an annual rebalancing required due to the 150% rocket higher in silver and 64% in gold. The DSI is only 77 for gold and 82 for silver as of the close on the 6th of January.
Hopefully, the next few days will provide an excellent opportunity to pick up a few more shares of the miners that you like, before re-rocketing onward and upward!!
Soros at work.
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deer79
Re the adjustment selling….I saw 13 K comex lots was the number……’someone’ sold 15 K lots in 10 mins a few days ago
i wonder if all this bearish talk , is timed to coincide with this selling….as bears try and use it.
Ferret
As I said the peak price will almost certainly be a spike Hi….the TA supports such a price…it’s where we settle that will govern the shares…..
So far the action is confirming a hesitation, not a spike hi here.
Maddog, no, you’re dead right with the chemistry.
But an extra $17,500 is a big deal for the lower end of the range. At $500 silver is almost purely investment grade, so we wouldn’t care anyway.
ferret
Great catch on the Silver VAT…….re Solid state batteries, the Silver content I gather is vital due to the chemical reactions, particularly in halting the major floor in LiOn batteries, where tendril like reactions occur and eventualy the battery can catch fire , though not always…..it also causes the life extension and the speed of charge….I gather the silver is used as membrane that seperates the other metals and reacts with them. I am no engineer /phycist….details may be wrong.
So far nothing else will work……as to cost 1 kilo @ $ 500 is @ $ 17500….so far the cars that will get those batteries are over $ 100,000 already. So for all the advantages a 17 % increase is no big deal.
Also the price will over shoot massively, commodity prices nearly always do …back in the 80’s we sniffed $ 50 in Jan 1980 and within 3 months March ’80 the low was $ 11.10…..though that was of course due to breaking the Hunt squeeze…..but over shoots are common.
PS love the word shonky…so Aussie….u very rarely hear/see it anywhere else, but it is so descriptive. .
Looks like there is 13% VAT included in the Shanghai price.
I’d just remembered a couple of decades back a shonky copper miner was claiming he was getting 10% more in China for his natural copper nuggets than the spot price ….. investors were very excited for a few weeks.