Metals & Markets: Silver whale hunting time…
by James Anderson of SD Bullion
Silver, at last, shows its shiny upside strength, as gold also flexed its spot price this week.
The silver spot price blasted up to close the week around $16.25 oz, about a full Fed Note higher than it closed last week. Keep an eye on the $18 and potential $20 price resistance levels that may be threatened sooner than much likely think is possible.
The spot gold price ended the week up by ten fiat notes, closing at around $1,425 per derivative spot price ounce.
As for the gold-silver ratio, that fell hard this week from 93 down to 88 ounces of derivative silver to acquire one theoretical ounce of derivative gold.
This week, we’re not bringing on any guest.
Instead, we’re going to put this modern silver whale into physical bullion context. We’re gonna name names, talk about how many 100s of millions of silver bullion ounces they acquired.
And even, hear direct from a few of them, as they repeat sage advice they never took, and or repeat scapegoating they never bothered to investigate or conveniently never addressed in full detail.
After this brief message from our sponsor, we’re going silver whale hunting.
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Modern Silver Hoard Facts | Largest Silver Bullion Stashes Amassed Privately
Hello and welcome to this week’s Metals & Markets. I am your host James Anderson of SD Bullion.
This past week we had some strong fiat price action for not only gold bullion again, but also finally some upside action in the silver derivative markets.
While doing an interview this past Tuesday with Chris Marcus of Arcadia Economics, I was asked to give my thoughts on a recent article written by Alisdair Macleod published on Goldmoney Insights, entitled “A Whale Accumulating Silver Futures.”
Just past the 19:10 mark I was asked about this topic by Chris.
Caught flat-footed on the question, I have since gone and read Alisdair’s article which essentially suggests that China via JP Morgan as their brokering agent, is acquiring silver both increasing in derivative form on the COMEX silver futures exchange but perhaps also too for future industrial purposes as that nation still remains the largest manufacturer for the world. And as we all likely know, the monetary commodity of silver is used second only crude oil in modern-day goods we use now.
I even briefly glanced at Ted Butler’s reaction and then felt embarrassed by their subsequent back and forth theory pounding that went on this week (all published at SilverDoctors).
I have had the pleasure of interviewing and speaking with both Alisdair Macleod and Ted Butler over the years.
And given further thought, it matters little in the long term whose speculative theories are perhaps accurate here.
For silver bullion stackers with long term frameworks, the coming performance for silver to the upside is a bigger story than either JP Morgan or China. It will be more so a story about the greatest gold bullion bull market the world has ever witnessed, and quite likely the brief but incredible performance silver bullion achieved in the mania portion of what I bet is to come.
I wanted today’s podcast to simply be a general overview for silver bullion bulls about verifiable facts looking backward. There will also be a few colorful allegations mixed in. But you can then go do your own research and perhaps drop some of the preconceived notions you might have had prior.
We’re going to run through where the modern silver market has been throughout this full fiat currency era, from 1970 to today. All in the context of the largest verifiable silver bullion...
