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Tuesday, May 3, 2011

John Stephenson still Bullish on Silver

John Stephenson, First Asset Mgmt., says there could be more downside to go before the slide in silver ends but he is still bullish on silver matter of fact he sees Silver at $60 before the end of the year .Despite Silver sees its biggest drop in two years the fundamentals for an upside move on the long term are still there namely an excess of liquidity chasing the few commodities that are on the market


SILVER MANIA? The average person in America is still nowhere near the silver market so how could we speak of a bubble or a mania in silver ? This is a gigantic physical buying opportunity , main stream media is telling you that it is now the time to get out , be careful they want to dissuade new investors from entering the market and they want to separate old investors from their positions ...we are no where near a SILVER MANIA or a bubble in the silver market , the rally will just start after the $50 mark....

Gold and Silver Trade - silver was the most overextended of all the precious metals

Silver backing off a bit. is that going to keep going on? i suspect so. the silver i think was the most overextended of all the precious metals. we're likely to see it weaken relative to gold and i think that's what's important is the gold/silver ratio is likely to go back up again. everybody taking grandma's old tea set and selling it at the pawnshop. how long can that go on? that's a good point. what helped to kill the rally way back in '79 and '80 was an enormous amount of scrap coming into the market. we haven't detected anything like those levels back then. i do think you're going to see a change in the attitude of industry and consumers about handing in old silver items with the prices almost getting to $50 at one point

Jim Steel, chief commodities analyst, HSBC; Peter Beutel, president and author, Cameron Hanover; and Michael Woolfolk, BNY Mellon offer a roundup of commodities and what's likely to happen over the next few months.

Gold price down, 3%

Gold down, 3% - the gold loses appeal in Asian markets, due to the recovery of the US dollar. The yellow metal for immediate delivery slips in Singapore, by 1, 3% to $ 1,525.45 an ounce.

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