Afternoon everyone.....

With all the craziness in the market on Thursday & Friday. The next target for the Reddit crew was silver.

If you are into precious metals and checked any of the online dealers over the weekend. Most of them took 80% or more of their supply off the website. They also had banners stating “Due to market anticipation no precious metal purchases will be allowed until opening of the market Sunday at 6pm EST. Or “Due to high volumes there is a week to ten day delay on shipments from the time of payment clearance”.

So I was very interested to see what silver would do. Right out of the gate it went up over $1 fairly quickly. By 11pm EST it was up over $2 an ounce.

Unfortunately once our US Stock market opened, they pounded the market with silver contracts to try and blast the price down. It worked to a degree.

Silver is up $1.55 as I write this post.

But will it stick????

Here is a screenshot of Kitco showing the entire day of trading.

I called a few dealers for pricing on two specific items. American Silver Eagles and Ten ounce bars.

One large dealer told me they had none for sale and didn’t know when they would be available. The other two dealers both told me they were only taking pre-sale orders on both.

Hmmmmmm

Something smells fishy.....