LiveOffshore

Over the past week, important news continued to develop in silver. Let me try to touch on some of it, before getting into today’s topic. There was the sharp sell-off in price, which occurred after the cut-off for the weekly Commitment of Traders Report (COT). It’s always difficult to pinpoint precise lows, in terms of price and time, but I am still of the mind that the sub $17 price level in silver represents great long-term value. And the lower we may go only strengthens the bullish case, as more tech fund longs are washed out and more dealers buy. Whenever the current sell-off abates, my sense is that we will rebound dramatically.

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