Monday, April 25, 2011

Silver Soars

London Source - Asian Buyers Will Take Silver Over $100
25 April 2011
, by Eric King (King World News)$100.html


“$3 to $4 dollar days in silver will become common, from now on $2 days will be considered slow. There will be a great deal of volatility going forward, but more often than not silver will close near the highs.”

Right now the silver shorts are being flushed out in Asian trading on light volume and we have options expiration ahead of us. 38,000 silver contracts are in the money and the question is how many will ask for delivery?

As I mentioned to you previously, the Asians have also been taking delivery of silver out of SLV and will continue to do so. You have to understand that these Asian buyers are planning to take delivery of all of the available phyiscal silver they can get their hands on and will continue doing so for the foreseeable future.”

The Chinese want out of dollars and they will continue aggressively purchasing both gold and silver in order to diversify. They don’t care whether silver is $50, $60 or $100, they will just continue accumulating.

The Chinese may be patient buyers, accumulating on weakness, but you can bet that their relentless purchases of physical silver will eventually push the price well over $100 an ounce.”

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