NAV Premiums of Precious Metal Trusts and Funds

The cash level for the Sprott Physical Silver Trust is at the point of depletion.

Time to roll out that new follow on offering and bulk it back up.  The last one was in November 2012.

 

With this kind of premium to NAV they should be able to do it.

 

Given the huge claiming for the opening of the March contract period in silver, perhaps the 'suppliers' are already gathering together the bullion to support it.

 

 

 

Gold Daily And Silver Weekly Charts - March Silver Comes In like a Lion

Today was the usual dull day of market focused on their own navels, surrounded by the flies of the HFT bots.

Silver was the bigger story with the first report from the March contract, with an impressive claim of over six million ounces of silver being claimed on the Comex.

The Comex silver sees plenty of warehouse action, since CNT is using it as a delivery vehicle into their contracts with the US mint.

Otherwise the Comex has all the appearances of a bucket shop for gold.

 

The economic calendar for next week is below, and as you can see, we have another Non-Farm Payrolls report on Friday.  Since they have revised the jobs numbers back to whenever already, it will be interesting to see what kind of a number they can scrape up for February. 

 

Stormy weather.

Gold is moving from West to East.

If you don't agree, or don't understand this, that's ok.

You will.

 

Live long and prosper.

Have a pleasant weekend.

 

 

 

 

 

SP 500 and NDX Futures Daily Charts - Toppy

 

Stocks were floundering around most of the day on a weak GDP revision this morning, and a shockingly low Chicago PMI which *could* be an effect, at least in part, of the weather.

Stocks are looking a bit lofty here, and volumes are thin.

But here comes March, and another month in which the wolves can thin the saving herd, as thin as they may have become.

The cash Nasdaq continues to creep higher towards the magic 5,000 handle.

The last time we saw that was in March, 2000.  And you remember how things went from there.

Have a pleasant weekend.