Post by
CaptainDuff on Aug 11, 2020 5:42pm
Silver Swing
Well it was fun watching silver nearly close over $30, but here we are under $25.
One of the best things about BHS is that it is profitable with silver anywhere over $12. And its CAPEX has all been paid.
There is every chance silver will drop another few dollars before resuming its rise. 1.5 billion paper ounces were sold today. More will likely be sold tomorrow. At some point people are going to want physical delivery. When that happens it is going to be wonderful to own a silver producer.
I am long and staying that way.
GLTA
Comment by
wanderer9641 on Aug 11, 2020 8:34pm
That was the second swing with the hammer - total 3.5 billion paper ozs over a few days - first round we stood well but today's round did damage - The banks must have an awful lot of shorts on the books now - stay strong.
Comment by
favill on Aug 12, 2020 7:50am
We don't know how much they've shorted silver...but we do know they are US$53B short against gold.