zaterdag 13 oktober 2012

Large drop in Silver Stock COMEX: Brink's Vault

Someone just took out 3.6 million troy ounces of silver from the Brink's vault at the COMEX. And it is registered silver, which means it's real physical silver. About $120 million at current prices. That's almost the same amount that Eric Sprott bought in his physical silver placement in July 2012.

This is a very significant 1 day drop, you can make your own conclusions.

See the balance sheet here:

3 opmerkingen:

  1. The movement of stock in and out of the COMEX vaults may not be significant if it was done for purely technical reasons.

    Meanwhile, the outlook for silver is not very bright, and the price has fallen to $33/oz in Oct-12. This is much higher than the $27/oz back in July, but it looks like Silver price is likely to decline in price for the rest of this year.

    1. You also need to look at which assets you would want to have. Bonds, no way at these low rates. Real estate, people don't have money to buy houses. Stocks, these are completely overpriced now. Cash, QE3 and money supply increases will devalue cash.

      I don't know if silver will go down, I just hope it goes up .

  2. Stocks are undervalued. There is wall of cash waiting to be invested in stocks, and as soon as the Spanish debt crisis reaches some sort of resolution, stocks will increase in value quickly, but this may be sometime off.

    Last month (Sept-12), precious metals did increase when the Fed and the Chinese government announced monetary/fiscal stimulus packages back in September, but since then, the price of gold and silver has remained subdued or gone down.

    In the meantime, all eyes are on Europe. If the Spanish government asks for a bail out, and the ECB promises to print money to support a bond buying programme, then maybe gold and silver prices will increase again.