http://www.zerohedge.com/article/co...288-million-ounces-3-drop-overnight-30-drop-s Silver levels in the comex have hit an all time low. At this rate of depletion, there will be no silver left in the comex in 5 months.
Wow, you'd better take delivery on your 500 Sep. and mock the rest of us who will never be able to buy silver after this summer.
do i understand this correctly that there is no theoretical limit how high Silver could go this fall?
There is way less silver than gold in the world, my question is , why doesn't the price reflect this? Edit, I should say there is way less silver bullion than gold bullion. I don't know how much is floating around for industrial use. But still....
For why - I will give a short answer here that I saw from someone else - 99.9% of the world's population "knows" gold is rarer then silver. They can't tell you the qtys of either, etc. but they are born "knowing" that because Gold has always been worth more then silver and everyone tells them it is rare. Kids born in the U.S., China, India, Russia, born into wealth or poverty all "KNOW" gold is much rarer then silver. Ask anyone at work, grocery store, etc. JJacksET4
I guess that makes sense, price is just everyone's collective perception of value of whatever is being traded.
=============== P-T-trend; Comex, New Mex,or old Mex may have have a silver problem in 5 months. But 5 yr, 15 yr, 25 yr silver trends are still up; 5 day, 50 day 55 day are polar bear, Looks still like a downtrend; but somelong term investors ,may still be buying/scaling in Interesting silver squeeze 1998article ; about 200 yrs ago+/ silver supply was so huge, prices downtrended quite well