Turbulent times where international markets will become anti intuitive.
In gold, silver and their miners you have chosen an asset class that is of high interest to USA and global bullion banks who need to control it because their own precarious positions (not having what they should, and having short positions).
So you have entered upon a battle to the death of bullion -v- the Fed and LBMA, JPM, HSBC.... ON your side are global central banks buying in huge quantities, and individuals world wide sucking up physical as well....creating an increasing depletion of available physical product at prices they wont sell at.
The NY Fed, Europe, Japan and China have/are helping you too by massive continuous dilution of their currencies one way or another and something they cannot stop.
This is a waiting game. And something will have to give if these bullions banks have to cough up physical to their customers. We have already seen defaults... a Swiss bank refusing to hand over physical from an ALLOCATED gold account, to the other defaults noted here or on KWN. So they have a physical problem.
They will have to let the price of bullion go up considerably if they want to free it from owners hands that much is obvious now.
So we wait to see how they are going to deal with their problems.
In the meantime the games with gold and miners will continue.
SLR Price at posting:
99.5¢ Sentiment: Buy Disclosure: Held
