The dislocation in the silver market is abnormal. There is likely validity to the concept that the silver price has, through various means, been shall we say “repressed” nominally and according to silver bugs, in its true value vs. gold. So a rise in the Silver/Gold ratio (decline in Gold/Silver) was normal (and expected per our analysis last spring).
This update has nothing to do with that stuff.
I did some research this morning and talked to two bullion dealers. One is not accepting new silver bullion at this time due to a lack of big buyers. When I asked who the big buyers are he said, in his Russian accent, “the big companies”. He was a little hard to understand, as I was driving while talking. He said there are no big buyers. I said “like bullion banks?” and he said yes, big financial companies have stopped buying. So inventory is backing up. He also said “I don’t know why the price is not… ” [he used a harsher word than dropping, can’t remember if it was tanking, crashing or something along those lines].
The second dealer literally said there are delays processing orders because “everybody’s selling” and it is hard to move new inventory.
Just an FYI from your friendly investigator at NFTRH. It lends further evidence that a silver price top should be coming before long. Along with that, I would expect gold to come under pressure as well. Much less pressure than silver as the Gold/Silver ratio snaps back from its epic oversold condition.
