Is there a Lack of Demand for Physical Silver?

May 3, 2011 By 1 Comment

And the propaganda rolls on.  Has anyone ever heard of Suki Cooper? We haven’t either.  “I think now prices are going to test where physical support comes in,” said Cooper.  He must not have looked into buying physical silver as of late, or checked out silver’s premium on any bullion trading website (if they have any in stock!!).  CME hiking margin requirements 3 times in the last week ring a bell?  We were due for a correction, but PLEASE, the physical demand of silver is lacking?!

Silver’s Shine Is Fading Fast

Published: Tuesday, 3 May 2011 | 7:12 PM ET
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By: Patti Domm
CNBC Executive News Editor
Silver’s shine is fading fast, and the market for the precious metal may have reached a top in a speculative, mad dash by ETF investors.

Silver bar and coins
Thomas Northcut | Photodisc | Getty Images

“The last move higher over the last month or so has really been driven by the strength of the retail investment demand, so the levels up here are not supported,” said Suki Cooper, precious metals analyst with Barclays Capital.
“At levels above $40, we’ve seen some concern rising on the industrial demand side. The last leg higher has been investment-driven, rather than fundamentally supported. In that respect, the correction was due. I would say from a demand support point of view, we have levels that have been tested in other metals, but we haven’t had a chance to test that in silver,” said Cooper.  “I think now prices are going to test where physical support comes in.”
If you want to read the rest of this crap here’s the link http://www.cnbc.com/id/42886979

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Comments

  1. BullionRun says:
    May 3, 2011 at 11:07 PM

    Dont worry Doc. Cramer on Mad Money has Silver's back. He pointed out the selloff relation to CME hikes. Advised everyone to trim down on all borrowed money and that everyone has learned from silver's crash that you can't borrow money and invest in silver. So I think everyone is safe now to borrow some money and buy some Silver!! : )

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