SHORT SELLING SILVER (SLV) AGAIN: DEBT CEILING AGREEMENT
We are short selling silver (SLV) again. The trigger is the agreement on debt ceiling. Since the only convenient market open is the futures market, we short sold near term silver futures contract at $39.82.
The debt ceiling uncertainty has added about $2.50 to the price of silver.
The world economy is slowing. At The Arora Report, we monitor leading economic indicators from 23 countries. Our forecast is that the world GDP will grow by 0.5% over the next two quarters less than the consensus.
Silver is also an industrial metal. Slower economic growth reduces industrial consumption of silver.… Please click here or the title below to read more.
July 31, 2011