Eric King of KingWorldNews.com blogged that his sources say Asian buyers effectively have checkmated the silver shorts. No doubt about it, there is a major battle going on in the silver markets. Volumes are at record highs, and volatility is extreme.
Many clients ask who’s doing all the selling. CFTC’s COT reports suggest it’s the usually suspects, the bullion houses. But, a better question may be who’s doing the buying? Eric King says it’s some Asians, who have brought some really big money to the game.
Undoubtedly, the Fed’s announcement of Quantitative Easing 2, with one noted analyst saying it could bankrupt the Fed. QE2 has made many people revaluate their desire to hold dollar-denominated investments, such as US treasuries.