Posted 11/04/2011 02:32 am
I don't know Fred. I just don't. I was surfing a month or so ago on the web trying to get a handle on Technical Analysis. I spent a lot of time looking for some one who did not have an axe to grind as a bull or bear. The one guy I found that seemed to just make his predictions via the Technical Chart merits, lost me with D waves, and A waves, Candles and what not, but I do remember him predicting a short upmove about now followed by a pretty large move down around the 15th of this month. I guess we will see.
One observation, Silver is often touted because of its industrial uses, which is true. But those same uses also serve as a cap or lid on the market. Because Industrial users have to pay the increased premium for raw materials and then pass that cost on to its Customers. In this market of little disposable cash, passing along those cost is just not as sustainable as during more favorable economic times. So either they push to keep the prices down or they don't buy. Either way their goal is to keep prices of silver low. And according to some reports there is a glut of silver on the market and some refiners are not now taking new customers or large orders.
One observation, Silver is often touted because of its industrial uses, which is true. But those same uses also serve as a cap or lid on the market. Because Industrial users have to pay the increased premium for raw materials and then pass that cost on to its Customers. In this market of little disposable cash, passing along those cost is just not as sustainable as during more favorable economic times. So either they push to keep the prices down or they don't buy. Either way their goal is to keep prices of silver low. And according to some reports there is a glut of silver on the market and some refiners are not now taking new customers or large orders.
