“Silver’s Plunge Is Nearing Completion”
goldcore.com / By Mark O’Byrne / July 11, 2017
– Silver’s plunge is nearing completion – Bloomberg analyst
– Silver’s 10% sharp fall in seconds remains “mystery”
– Plunge despite anemic global supply and strong demand
– Total silver supply declined in ’16 – lowest level since ’13
– Silver mine production down in ’16, first time in 14 years
– Total silver supply decreased by 32.6 Mln Ozs in 2016
– Supply deficit in 2016- fourth consecutive year (see table)
– “Falling knife” caution but opportunity presenting itself
***
Silver has had a torrid time of late with a the “flash crash” seeing a massive $450 million silver futures sell order pushing silver 10% lower in seconds and follow through selling later Friday after the better than expected U.S. jobs number.
The electronic futures silver and gold exchanges continue to ‘wag the dog’ of the global silver and gold markets … for now.
If one had just looked at the short-term trends of silver at the end of 2016, you would have thought we would be mad to predict that 2017 would be a bearish year.
The post “Silver’s Plunge Is Nearing Completion” appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/07/11/silvers-plunge-is-nearing-completion/
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