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Silver falls 10 pct in thin Asian trade
SYDNEY, May 2 (Reuters) - Silver fell sharply early in thin Asian trading on Monday, retreating further from a record high set last week.
It fell about 10 percent to $43.36, well off a peak of $49.51 set last Thursday. Trading is expected to be very thin with many markets in Asia shut for public holidays.
The move came after data last Friday showed speculators had scaled back their bullish bets in COMEX silver futures and options to the lowest level since early February. It also followed news last week the CME had raised margins on Comex 5000 silver.
SYDNEY, May 2 (Reuters) - Silver fell sharply early in thin Asian trading on Monday, retreating further from a record high set last week.
It fell about 10 percent to $43.36, well off a peak of $49.51 set last Thursday. Trading is expected to be very thin with many markets in Asia shut for public holidays.
The move came after data last Friday showed speculators had scaled back their bullish bets in COMEX silver futures and options to the lowest level since early February. It also followed news last week the CME had raised margins on Comex 5000 silver.
Markets (governments) can remain irrational longer than an investor can remain solvent.
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<< <i>Silver falls 10 pct in thin Asian trade
SYDNEY, May 2 (Reuters) - Silver fell sharply early in thin Asian trading on Monday, retreating further from a record high set last week.
It fell about 10 percent to $43.36, well off a peak of $49.51 set last Thursday. Trading is expected to be very thin with many markets in Asia shut for public holidays.
The move came after data last Friday showed speculators had scaled back their bullish bets in COMEX silver futures and options to the lowest level since early February. It also followed news last week the CME had raised margins on Comex 5000 silver. >>
So we can thank the speculators for the run up in silver price ... economics & world affairs had nothing to do with it.
On a separate note I'm currently in Japan and it was nice to see people out on the streets yesterday in Osaka. Saturday night in Tokyo was rather quiet. The effort to save electricity is quite noticable in public places. I have not seen too many westerners or tourists. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Chuck
Where in Tokyo? The Tokyo International Coin show was going on and I was at the Royal Park. My PM involvement included all of a single silver panda. Got copper mostly
Cathy
I will be in the Shinjuku, Roppongi Hills and Ginza area today. Hope all is well with you.
Coin show, did you say coin show? MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......