Tuesday, 22 February 2011

Silver explodes to the upside

Silver traded as high as $34USD on late Monday Aus time. Tonight, (Tuesday) it's coming off a fair bit -down over a $1.50.

I don't know much about the expectations of silver other than the likes of Eric Sprott have much higher expected prices (over $50USD). Who's buying silver? Rumours are circulating about a short squeeze and James Turk has been highlighting the recent backwardation. Something is up!

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