With dismal U.S. Mint sales to date for the month of April and stagnant silver prices in the low $30s, it’s easy to get lulled to sleep thinking the silver story has run out of gas. I’d rather put on the rosy glasses and look ahead to some key events which could jump start the beginning of the next leg up in the respective metals.
First the bad news…
With only 6 trading days left in April, the US Mint is reporting silver sales at 880,000 oz. This is down from 2,819,000 April of 2011.
( oz. / #coins )
Who is liquidating the metal out of the SLV?
I came across this chart tonight and noticed a large spike year over year in silver being taken out of the SLV. If we actually gave SLV credit for having any phyzz to begin with (which we don’t), one has to wonder where the liquidated metal is headed to.
What we have to look forward to…..
1. Fed Announcing QE
2. US Debt Ceiling Hike
3. Indian Wedding Season