Today’s Silver Propaganda: Silver prices could fall short term as physical market consolidates

http://i1178.photobucket.com/albums/x366/SRSrocco/COMEXSILVERWAREHOUSE41012-1.pngFrom SD Contributor SRSrocco:

MORE OF THE SAME GARBAGE FROM MSM….

Well, it looks like more of the same ORTHODOX ANALYSIS from MSM.  Even though Comex Silver Stocks might be rising, its the CUSTOMER, not the DEALER that is rising.  Just as Doc put in his blog yesterday, there was a big 1.5 million oz transfer from Dealer to Customer.  Dealer inventory is now only 29 million.

Silver prices could fall short term as physical market consolidates

Mitsui and Co Precious Metals strategic analyst, David Jollie, says he can see a medium term outlook which is not that negative for silver but in the short term there has to be some concern prices might fall.

Author: Geoff Candy
Posted: Wednesday , 11 Apr 2012

After a fairly strong start to 2012, it seems much of exuberance with which silver started the year has dissipated.

For Mitsui and Co Precious Metals strategic analyst, David Jollie, there are a number of good reasons why investor sentiment has been tempered.

“We’ve seen some reduction in silver demand this year and there’s a whole range of reasons for that,” he told Mineweb.com’s Metals Weekly podcast.

“Quite widely we’ve heard people talking about the photovoltaic market but you could also look at other industrial markets, the plasma display panel market where silver is used as well, where demand is lower than it was last year. And you see that manifested in things like the Comex Silver Stocks rising in lower silver physical premiums in some markets than last year.”

But, it is not just the demand side that is struggling. Production of the metal from both primary silver miners and the gold and copper mines that produce the metal as a by-product has risen and, Jollie says, it is likely that the market will see quite a few million ounces of additional supply this year as well.

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Well, it looks like more of the same ORTHODOX ANALYSIS from MSM.  Even though Comex Silver Stocks might be rising, its the CUSTOMER, not the DEALER that is rising.  Just as Doc put in his blog yesterday, there was a big 1.5 million oz transfer from Dealer to Customer.  Dealer inventory is now only 29 million.

http://i1178.photobucket.com/albums/x366/SRSrocco/COMEXSILVERWAREHOUSE41012-1.png

By SRSrocco