2012-08-21 — twitter.com
... just in from our STALKER source...
*He has rumors from two sources that a LARGE silver transaction was consummated last week. I mean LARGE! It is very possible the increase in the silver open interest is initial pricing by various commercials as they source out physical supply to make actual delivery. What if it is just not there to get?
*His famed London trader has been buying silver, but will load the boat when the price takes out $30.
*On a related note, veteran Café members will recall that the last time we heard about the trader, his number on pick was palladium. It has gone up 10% since then and he is BUYING MORE.
Now for the good gold news...
*The gold open interest only rose 1285 contracts yesterday to 386,179, which is right off its LOWS since 2009 ... which means the specs are just not there yet, and weren't at least until today. There is room for tens of thousands of contracts to enter the long side to fuel the price up a long ways, and perhaps quickly so.
*That same London trader yesterday said he would be buying gold aggressively if it got to $1635, which of course it did today. And get this, he related to our STALKER source that gold would have a big day the next day if that happened. Course, the next day is TOMORROW!
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