On the heels of KWN reporting the Chinese buying massive amounts of gold yesterday, King World News has now interviewed the “London Trader” to get his take on the situation in silver. The source stated, “The price of silver has no reality to the paper market at all, absolutely zero reality there anymore. There is extraordinarily tight supply right now in Asia. When you order silver there is so little available at these prices, that’s the trouble. You can order it all day long, but you are going to have to wait for it.”[/quote]
I’m honoured to be mistaken for Poet…
"Plato, I was referring to the non-OPEC countries in decline in my previous statements. If you want to look closer at OPEC, lets start by counting the number of US and NATO bases in the region. It seems clear to me that the power to do whatever they want with their resources is questionable at best."
Agreed… there’s the petrodollar issue, as well as geopolitics not to mention internal pressures…
If non-OPEC supply is peaking, that would shift control in OPEC’s favour… perhaps accounting for the phase-change in oil price dynamics over the last decade… ?
Looking at OPEC’s statement about pricing last year, the oil price has essentially behaved exactly as they wished… rising to around $100 bbl…
If only central banks had the same accuracy … !
Speaking of which, and getting back to the yellow gold rather than the black version…
The analogue to OPEC in the gold world would be the central banks… and they rather than the miners have the power to increase "production" since previously mined gold is identical to the freshly mined stuff…
ReadyI don’t know who you are talkng to. This is my first post in this thread.
Edit: Oh, I got it now. Thanks for clarifying that you meant Plato1965.
Plato,
Thank you for the kind compliment! :)
Poet
It’s JUST as important to know how to sell gold as it is knowing when and where to buy it. Make sure you understand BOTH sides of the coin before buying or selling!
