No comments about silver this week?.........

[Ponce]

Last weekend silver closed at $28.01 and this week at $28.82.........a gain of .81 cents....pretty good week.

[Ponce]

I don't get it, the markets are supposed to be closed till Sunday night but right now there is movement on silver..........I wonder why and how that works?

[uncletonoose]

Looks like you are a day off. Closes today at 5:15 PM EST ;D

[Silver Shield]

I remember the days where a .21 cent move would be cause for rockets.

Now silver could do a dollar a day and it would have less effect on me.

I think most here don't really care about the FRN price of silver because most will never sell for FRNs.

I do love watching my graphs for gold/house/DJIA to silver ratio though!

[Ponce]

Looks like you are a day off. Closes today at 5:15 PM EST ;D


Upssssssssssssssssss you are soooooooo right, that's what happens when you are retired and loose track of what day it is ;D

[Low_five]

Nah it happens to us working assholes too. We wake up on wednesday excited that in our minds its friday, then we get to work and the grim, expressionless calendar gives us its cold dick in the ass.

[Ponce]

Ok low-five.........no need to feel like a asshole......silver went up $1.13 this week......hurayyyyyyyyyyyy.

[Trinity]

What do you think about the Silver article in my above post Ponce?

[Serpo]

What do you think about the Silver article in my above post Ponce?


What above post ?

[Ponce]

I second that, what above post?

[Low_five]

That article was amazing, thanks.

[Serpo]

That article was amazing, thanks.


AH you mean this one........

Near Zero Contango in COMEX Silver Futures

HOUSTON -- We are in the process of pouring over the data from this week, and just below is something we are going to be hearing a lot more about in the coming days and weeks. As of Friday, February 4, 2011, there was near zero contango in the COMEX silver futures market.

More in a moment, but first, here is this week’s closing table.
http://www.gotgoldreport.com/2011/02/near-zero-contango-in-comex-silver-futures.html



Note the very strong outperformance of silver to gold this week. There is likely a very good reason for it.

No Contango in Silver

Contango, where the spot price of a commodity is lower than the following futures contracts, is the normal condition in the precious metals futures markets. Contango is a sign that a commodity is in ample or adequate supply.

Backwardation means that the cash or spot price is higher than the futures price for the same commodity. Backwardation occurs when demand for immediate delivery outstrips the market’s ability to deliver the commodity. Backwardation occurs when there are too few sellers of the physical commodity to accommodate all of the actual buyers, so a near-premium develops to compensate the sellers willing to part with metal in return for taking delivery later.

When there is zero contango, it means that there is not even one futures contract that is higher than the current spot or cash price. Zero contango and structural backwardation (where each succeeding futures contract is lower for most or the entire strip) is also known as an “inverse carry” market because the futures no longer compensate holders for the cost of carry, capital, storage and insurance relative to the spot price.


Continued…

We cannot overemphasize how unusual and rare it is to have zero contango in the silver futures strip. As of the close on Friday, the spot price for silver was $29.07. The closing price for the December 2015 futures contract was $29.02 or 5-cents less, repeat less, than today’s spot price – for delivery four years hence. The few futures contracts that were above the spot price were all within two cents of it. For all intents and purposes, silver is in a zero contango situation now. Just below is the closing strip from Friday, February 4, courtesy of InsideStocks.com.




That means that there is heavy demand for immediate delivery silver. It means that silver players are earning a premium to sell physical for delivery now and to wait for the return of their metal until the March contract, the near active contract, which is trading at 1.6-cents lower than spot (blue circle).

Full-blown backwardation has arrived in the COMEX silver futures market. Backwardation suggests that competition for whatever metal is available is heavy and most analysts consider silver backwardation to be a decidedly bullish condition.

By the way, as of Friday, there was only enough silver metal in the Registered category in COMEX depositories to accommodate 8,680 COMEX contracts (43.4 million ounces), or about 6.6% of the 130,601 contracts open as of Thursday’s tally. (Another 59 million ounces was listed as “Eligible” and some of that metal could conceivably be coaxed into the Registered category at some price. Some of the Eligible silver is likely already committed for other purposes and is merely stored in the COMEX system awaiting delivery.)

Evidence of tightness in the silver market continues to surface in other words.

[Trinity]

I second that, what above post?


Darn thing must have been deleted or moved somewhere. :conf: I remember posting an article, I think. :-\

[Trinity]

Spot Silver has ben close to or higher than the futures prices for quite a bit of time now. I remember back in the nineties when I used to look at the spot verse futures price the futures were always higher and a lot higher on the outer months. I used to say then that one day the spot will be higher than the futures and now it has come to pass. Soon spot will be much higher than the futures price and forget about physical Silver, 100 ounce bars on down will demand a very high premium over paper products.

[Ponce]

Thanks Serpo.....the link didn't show on my lap top, looks to me that Trinity is another victim of the power to be >:(

[Serpo]

I just found that article and threw it in so to speak ,have no idea what they where talking about,Ponce.

[Trinity]

looks to me that Trinity is another victim of the power to be

No ponce I'm just kidding around. I saw where you said you have had your posts go missing so I was playing it up for kicks.

[Serpo]

Respect your elders...

[Ponce]

LOLLLLLLLLLLLLLLLL Trinity........this time you got me good ..........and others.

I know Serpo......we all should respect you more hahahahahahahahahahahahah :P

[Serpo]

[quote=Ponce
I know Serpo......we all should respect you more hahahahahahahahahahahahah :P
[/quote]

Hey Im not that old,heres a photo......as proof......

[Ponce]

OK, you are not old .........you are just plain UGLYYYYYYYYY ;D

[Trinity]

Respect your elders...


I respect the old guy Serpo. The second thing I did when I purchased a computer was a Gold search. Found GIM and one of the first posts I saw was from a "Ponce Cuba". He is a big part of Gold forum history IMHO.

[Serpo]

http://www.roadtoroota.com/public/94.cfm

[Trinity]

Crazy as it sounds on another gold site that I post on some posters there argue that the banks have a legitimate short position in the Silver paper market.

[Ponce]

Respect your elders...


I respect the old guy Serpo. The second thing I did when I purchased a computer was a Gold search. Found GIM and one of the first posts I saw was from a "Ponce Cuba". He is a big part of Gold forum history IMHO.


Hey, pass me on the link, haven't seen it in ages.......thanks.........I just want to see if I am the same Ahole that I am now..........probably was..........happy to say hahahahahahahah.

[Trinity]

I can't it's old GIM stuff. Lost forever.

[Low_five]

What happened to my old GIM1 posts? I swear they were right here.

[Serpo]

What happened to my old GIM1 posts? I swear they were right here.


They are cant you see them?

[1970 silver art]

I think that if/when silver hits $40, then there might be a few comments about it along with a few rockets to "celebrate" its continuing rise to glory.

:)

[Ponce]

I'll wait till it hits one hundred and then, and then, and then........I duno, life for me is the same no matter what.

[1970 silver art]

I'll wait till it hits one hundred and then, and then, and then........I duno, life for me is the same no matter what.


Ponce? I have an idea. When silver hits $100, then you can use all of your TP stash to make a TP rocket and post it here for all of the GSUS community to see. :D

[Serpo]

On September 21, 2010 I published an article entitled “More Forensic Evidence of Gold & Silver Price Manipulation”. In that article I showed how silver from 2003 to 2010 had never traded freely at all; I showed that silver was algorithmically traded with gold and there was a very clear relationship between the price of gold and the price of silver. For those who haven’t read the previous article the following figure 1 (figure 4 in the previous article) demonstrates the inter-relationship.


By Adrian Douglas


https://marketforceanalysis.com/article/latest_article_02511.html