MOPEThe anti silver bias has reached spiritual levels in the MSM, as CNBC today released an article titled: Silver: Poor Man's Gold Turning to Fool's Gold?
Combined with massive negative sentiment throughout the sector, this is a strong indication that a bottom in silver is near, if it has not been already placed yesterday in the post fed minutes release smash. Apparently the cartel now needs assistance from the MSM in labelling silver investors 'fools' to help keep the public out of the market.
Silver: Poor Man's Gold Turning to Fool's Gold?
Silver bulls may be hoping that the metal's healthy first-quarter price rise is the first step back toward record highs. Not so fast.
Its advocates say silver, which occupies a middle ground between industrial metals like copper and investment vehicles like gold, can benefit both from the fledgling economic recovery that is lifting copper and from the investment that is driving gold.
But record-high mine supply and questions over demand have left a long shadow over silver's underlying fundamentals, while huge price volatility last year, when the metal crashed 35 percent in a matter of days on two occasions, has undermined its appeal to investors as a cheaper alternative to gold.
The broad investment environment is also bleaker than it was last year for friends of silver.
"There are two issues that in the short term suggest we are not going to head back towards $50," Mitsui Precious Metals strategist David Jollie said. "One is that margins on Comex are still higher than they were last year, so investors are going to have to come back in in more weight to drive the price further."
He added, "At the same time, silver turnover on the Shanghai Gold Exchange is relatively low compared to where it was last year.
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Um, you are citing an analyst from Mitsui and the Shanghai Gold Exchange for your claims that silver is fool's gold? Does ANYONE take this MOPE seriously?