Interestingly gold up 30 bucks last night silver down 54 cents. They are defending silver at $49 with everything they have got. If we break here we are off although it won't be easy.
In a stunning development yesterday 18,366 MAY GOLD CALL options were EXERCISED for futures contracts and 21,721 MAY SILVER CALL options were EXERCISED for futures. If these are not settled in a backroom cash deal for large premiums a default is looming!
Cheers
Adrian Douglas
silver equities sounding a warning, page-89
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