Gold and silver are always smacked down pretty hard on the Tuesday of any Tuesday/Wednesday Federal Reserve related testimony or announcement, and today is the same.
I saw silver at $20.20 yesterday before the markets opened in the U.S. for trading and knew it wouldn’t last. Easiest trade in the world if you’re in a time zone that can take advantage of it.
What’s your business opinion on the news that Singapore is opening a vault that can store 200-tons of silver this week?
I think silver is heading much lower, mid-teens probably before people start scooping it up as cheap. Just no catalyst for it now.