From King World News:
KWN’s London source has updated King World News on the massive Asian buyers which have been accumulating gold and silver. The London source stated, “$3 to $4 dollar days in silver will become common, from now on $2 days will be considered slow. There will be a great deal of volatility going forward, but more often than not silver will close near the highs.”
The London Source continues:
“Right now the silver shorts are being flushed out in Asian trading on light volume and we have options expiration ahead of us. 38,000 silver contracts are in the money and the question is how many will ask for delivery?
The London Source continues:
“Right now the silver shorts are being flushed out in Asian trading on light volume and we have options expiration ahead of us. 38,000 silver contracts are in the money and the question is how many will ask for delivery?
As I mentioned to you previously, the Asians have also been taking delivery of silver out of SLV and will continue to do so. You have to understand that these Asian buyers are planning to take delivery of all of the available phyiscal silver they can get their hands on and will continue doing so for the foreseeable future.
Today Bloomberg also reported on increased interest from China, who recently set up new investment funds to invest in energy and precious metals:
Silver and gold surged to records in London on speculation that China will buy precious metals to diversify its foreign-exchange reserves.
China, with more than $3 trillion in reserves, plans set up new funds to invest in energy and precious metals, Century Weekly magazine reported, citing unidentified people. Silver for immediate delivery surged to a record $49.79 an ounce, and gold reached $1,518.32 an ounce.
“People are expecting China to be a major buyer of precious metals,” said Adam Klopfenstein, a senior strategist at Lind-Waldock in Chicago.
China, with more than $3 trillion in reserves, plans set up new funds to invest in energy and precious metals, Century Weekly magazine reported, citing unidentified people. Silver for immediate delivery surged to a record $49.79 an ounce, and gold reached $1,518.32 an ounce.
“People are expecting China to be a major buyer of precious metals,” said Adam Klopfenstein, a senior strategist at Lind-Waldock in Chicago.
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