Okay so lets dive into it. The Silver front month delivery saw its OI (open Interest) today, and it came in at 152. 152! February is NOT a delivery month! I will have more on this tomorrow as the options data comes in and I can patch things a little more clearer. This means we are somewhere around 1.3 million ounces to deliver for February and should continue to rise!
I need to point out that premiums in Asia are starting to increase in the physical markets. This is a clear indication of what is to come in the delivery month of March for Silver. This is exciting news. Get excited. Seriously, even if you dont have a fu$%ing clue what I'm talking about, get excited. Just be aware, that the 'price' in fiat may still be manipulated by the Blythe's out there, but they cannot manipulate the physical supply and demand for those shiny little maples, and crisp little eagles. Hence, from the numbers, they cant shake the tree, and the lower the prices go, the more people line up to buy. Houston, they have a problem.
Oh and China's central banker urged an increase in PHYSICAL gold and silver holdings today. Oh, and Egypt is burning.
I should have more info tomorrow night as it filters through. Overall a good day. Let them bash the price down some more, who cares, when the world figures out there is no supply, or very little, price discovery will be, you know it, EPIC.
And if you didnt catch this on CNBC today, which you shouldnt have because they suck and your channel should never be on it, take a look. Again, this will be the decade of epic...