Salient to Investors: Silver ETP holdings are near October’s record while money managers reduced bullish wagers by 95% – Coeur Mining has hedged a third of its production through Q1 2015. Retail investors account for 80% of US ETP purchases and expect long-term growth to spur industrial demand from solar
READ MORE... →Salient to Investors: Hedge funds et al are the most bullish on gold since November 2012. Jeffrey Currie at Goldman Sachs expects $1,050 by year-end as the economy improves. Abhishek Chinchalkar at AnandRathi Commodities said prices are a little overstretched technically as funds are overbought, while gold is vulnerable to
READ MORE... →Salient to Investors: Hedge funds’ net-long positions of 18 US-traded commodities rose 18 percent last week to the highest since September 2012. Investors tripled the net-long position in arabica coffee this month to the most bullish since May 2011 Barclays said weather is the big driver of commodities. EPFR Global
READ MORE... →Salient to Investors: Jim Rogers said: Precious metals are overdue for a modest rally as everybody got negative and everybody got short. Won’t buy or sell the rally, but wait until later in the yearn when gold will fall and hopefully make a nice bottom around $900-$1100 so we can
READ MORE... →Salient to Investors: Demand for physical precious metals is increasing among Asia’s wealthy even as silver leads declines this year. Investors in silver are mostly private individuals, investors in gold are mostly institutions. 50 percent of silver is used in industry, versus 10 percent for gold. Cap Gemini and Royal Bank of Canada
READ MORE... →Salient to Investors: Dominic Schnider at UBS said an ounce of gold will be worth 70 ounces of silver by the end of 2013 as demand fails to soak up an excess of silver. The average multiple over the past decade is 58, and last reached 70 in February 2010. Schnider said silver
READ MORE... →Salient to Investors: Value of sliver found is $36 million versus the cost of exploration and salvage of $21 million at a depth 3 miles, versus 2.5 miles for Titanic. There are 3 million estimated wrecks in the ocean. Watch the video at http://www.bloomberg.com/video/61-tons-of-silver-scenes-of-3-mile-treasure-haul-Y_iIM_YoQ2KA1foiCLR1Rw.html Click here to receive free and immediate
READ MORE... →Salient to Investors: Trust in precious metals as a store of wealth is diminishing amid concern that growth is weakening. Bloomberg survey in December 2012 expected silver to gain 33 percent in 2013 either because , or accelerating growth would spur more industrial buying; but silver is on track for its
READ MORE... →Salient to Investors: Hedge funds have a net-short position on silver for the first time since at least 2006, but holdings in ETPs are within 1.3 percent of the all-time high reached in mid-March 2013. Silver entered a bear market on April 2. The median analyst expects silver to rise to an
READ MORE... →Salient to Investors: Gold miners will accelerate spending cuts and trim high-cost output as gold’s biggest fall since 1980 threatens to make about 30 percent of production unprofitable. Gold is down more than 20 percent since its record close in August 2011, thus signalling a bear market. Dundee Capital Markets
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