And the propaganda rolls on. Has anyone ever heard of Suki Cooper? We haven't either. "I think now prices are going to test where physical support comes in," said Cooper. He must not have looked into buying physical silver as of late, or checked out silver's premium on any bullion trading website (if they have any in stock!!). CME hiking margin requirements 3 times in the last week ring a bell? We were due for a correction, but PLEASE, the physical demand of silver is lacking?!
Silver's Shine Is Fading Fast
Published: Tuesday, 3 May 2011 | 7:12 PM ET
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By: Patti Domm
CNBC Executive News Editor
CNBC Executive News Editor
Silver's shine is fading fast, and the market for the precious metal may have reached a top in a speculative, mad dash by ETF investors.
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Thomas Northcut | Photodisc | Getty Images |
"The last move higher over the last month or so has really been driven by the strength of the retail investment demand, so the levels up here are not supported," said Suki Cooper, precious metals analyst with Barclays Capital.
"At levels above $40, we've seen some concern rising on the industrial demand side. The last leg higher has been investment-driven, rather than fundamentally supported. In that respect, the correction was due. I would say from a demand support point of view, we have levels that have been tested in other metals, but we haven't had a chance to test that in silver," said Cooper. "I think now prices are going to test where physical support comes in."
If you want to read the rest of this crap here's the link http://www.cnbc.com/id/42886979
