When it comes to real physical “hold in your hand” metal, there is NO ONE selling. If no one is selling then how is it that the price could go down? …COMEX and LBMA! The paper markets, that’s how. Paper contracts that are “sold” with no Silver, no Gold backing them AND no intention of ever delivering have hit the markets to knock prices down.
This “strategy” however, has spawned the unintended consequences of increasing demand for the real thing.
The recent US Mint shutdowns and premium spike in 90% silver is the looming “shadow” of shortage and as long as the “price” in the paper markets have JP Morgan’s boot on its throat, the shortage situation will continue, get more acute and ultimately blow up in a buying panic…exactly what JPM has been trying to avoid at all costs!
Silver is a very important “raw product” for many different applications. All of your electronic gizmos (that I haven’t even a clue how to use) have Silver in them. Silver is also becoming more and more important (as it was 100 years ago) in the medical field. Then, of course, there is the fact that Silver was used as, and IS, money. This all goes to demand and how it is expanding on many and all fronts.