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Saturday, February 19, 2011

Silver Breakout

Silver is currently in a backwardation situation.
Whereas, the cash market and near month futures contract is priced at a premium to the further month contract, i.e. March @ $32.296 vs. May @ $32.285 per troy ounce.
This is an indication of tight physical supply.
This is usually a powerful bullish indicator.
Next stop $40.
2010 American Silver Eagle Coin 1oz Uncirculated BU

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