Silver Takes the Elevator Down – Precious Metals Supply and Demand

Jon Alternative Media, Economy, Gold, Politics, Precious Metals, Silver

Election Effect Debate
Last week, we talked about the effect of the French election on the gold and silver markets, and noted:
Of course, traders want to know how this will affect gold and silver. As we write this, we see that silver went down 30 cents before rallying back up to where it closed on Friday. Gold went down about $20, and then half way back up.
At this point, we are not sure if the metals are supposed to go up because more printing. Or go down because the euro constrains France from printing. Or silver at least should go up because the economy is going to be better with France remaining in the Eurozone. Or go down because the ongoing malaise will only progress as it has been. Or some other logic… and the price gyrations this evening show that traders don’t agree either.
It didn’t take too long. Here is what happened to silver this week. The graph below shows the price of silver in real money (i.e. gold).

This post was published at Acting-Man on May 2, 2017.