LDS Freedom Forum

Posted: **April 14th, 2011, 6:37 pm**

I suppose everyone here noticed the price of precious metals at market close. Things are getting interesting.

Posted: **April 14th, 2011, 7:23 pm**

I knew it had crossed $42, but did not know it had closed so strongly. Seeing the chart, I had to hop over to Harvey Organ's blog for his daily commentary on metal markets. You can check out the entire post at http://harveyorgan.blogspot.com/" onclick="window.open(this.href);return false;

Let us head over to silver, the star of the show.

The total silver OI continues to hound our bankers. Instead of falling (like gold's OI) it rose from 144,670 to 145,065 for a gain of 395 contracts. The bankers had another midnight oil meeting last night and their actions proved futile today as silver rocketed northbound. The front options expiry month of April saw the OI fall from 14 to 13. We had 2 deliveries yesterday so we gained some silver and lost zero oz to cash settlements.
The next delivery month if May and we witnessed the OI fall marginally from 60,533 to 58,365.
We should have seen a much larger contraction as we head into first day notice. The estimated volume today was superb at 97,196. The confirmed volume yesterday was simply breathtaking at a stratospheric 106,025.

Posted: **April 14th, 2011, 8:53 pm**

Probably have a couple more weeks of run time......and I wouldn't be surprised to see silver hit 50 in the next 2 to 3 weeks. Should hit the debt ceiling this next week.....or two at the most.....so speculation will be rampant as to the outcome.

LDS Freedom Forum

Metal Prices

Metal Prices

Re: Metal Prices

Re: Metal Prices