Expect Major Silver Price Spike As COMEX Inventories Decline
from King World News
Today Greg Weldon told King World News, “The silver inventories are declining in the exchange warehouse. This is deliverable silver from futures contracts.” Weldon, Head of Weldon Financial, also warned “… changes in warehouse inventories have been a good indicator of changes in price.”
Weldon has a global following of some of the wealthiest investors in the world including individuals, institutions and financial firms. He now believes gold and silver are poised for major upside moves: “It’s interesting that we can finally start to look with some more favorable eyes at the gold and silver markets. Every time gold has dropped below $1,575, there have been ‘tails.’ We noticed this in the candlestick charts with long ‘tail-like’ reversals. Meaning there is demand being uncovered in that $50 band between $1,525 and $1,575.”
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2012-08-17 17:40:22
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