PM GoldFix: What to make of Silver Vault Depletion
RBC, GS, RABO, MS
Good Afternoon:
Another good day for metals in spite of slight Dollar strength. The market is definitely under the influence of CTA and hot money now. That is always good for a warning, but we told you we are bullish, and remain so as long as the market remains above approximately 24.75 in Silver.
In Gold we like things as long as they remain above Micheal’s levels below. But this is a Silver and Platinum driven rally right now. Copper came off hard today and that did not faze Silver at all yet. They want the Silver for some reason. This does not appear to be a physical play yet. Which means only the Fed can mess this up for us now.
Some new research at bottom…
