Quote:
|
Originally Posted by John Holmes III
Gold, silver future trading prices go down on poor demand
Mumbai | November 29, 2005 7:31:12 PM IST
Gold and silver prices today fell in the future trading on sustained poor speculative support from local bear operators, in view of weak global advice, trader-members of Multi-Commodity Exchange (MCX) here said.
Silver was quoted low at USD 8.27/8.30 per troy ounce, while gold was quoted at USD 496.80/497.60 per troy ounce in the global markets, traders added
*****************************************************
 |
Silver was also at 7 bucks in September, that's a 18% increase in 3 months.
There is alot of scandal behind silver.......most people that buy silver don't actually hold it but rather get a certificate of ownership. A lot of times there is no actual silver behind that certificate because nobody is looking to cash in just yet. What if everybody went in to cash in these certificates today ?? Think about the profit that these banks are making by just selling paper with your name on it.
Most people that buy silver in bulk also pay for storage fees.....I don't know why they would do such a thing since most of the silver does not exist. It's only on paper.