Silver Wheaton and Silvercorp Face Dropping Demand
A noticeable drop in worldwide manufacturing data has led to concerns regarding industrial demand for silver. The global manufacturing purchasing managers index released by JPMorgan and Markit, a closely watched indicator of world manufacturing output, fell from 50.7 in July to 50.1 in August, and is now only a small fraction above the level of 50 that is traditionally taken to mean contraction.Read more:
In other news JP Morgan reports that COMEX registered silver inventories increased to 500 million ounces overnight...ending all worries of a silver shortage. LOL.
We warned readers that the cartel would act more and more like a caged animal as the silver manipulation nears its final end.
Too bad for JP Morgan that silver is also a monetary metal, not simply a base commodity, and that safe haven currency flows into silver by investors will more than make up for any decrease in industrial demand.
