Another all time high for silver and all time high for the real bullion fund PSLV. How real? How about 123% as real as the fake paper silver being sold over on the Comex and in fraudulent ETFs such as SLV. That’s right, PSLV is trading at a 23% premium to the world’s effective price of silver. Funny, there isn’t “super” silver in PSLV, just good old fashioned everyday silver. Why is it in such demand? Well the answer is because this fund possesses 100% silver bullion and zero paper. Bullion is hard to come by these days it appears and paper promises are plentiful. Paper promises are worth $36 and some change per ounce. If you apply the premium of PSLV to the Comex price, then the real price for silver is upwards of $43.5! My oh my.
Resistance is now the Bollinger band and the median line of the Andrew’s Pitchfork, support comes in at 16.30.