Up 3 bucks at opening, 82.38.

Where will it be when the COMEX opens nobody knows.

The smelting refineries are 4.5 months backlogged. This is the largest in history. Normally, they can smelt what they purchase in a day or two. But with record high prices, many have sold some or all of their holding. With this said, the refineries will purchase silver today, but will not guarantee a price. They will pay what the price at the time they smelt it approx 4.5 months from now. I got this text from Dollar Town, a bullion bank about 2 weeks ago already.

It back below 80. 79.38.

Refiners have been backed up for some time.

Could be a small drop before another big jump, if it only goes up a little bit then the correction may be coming, the question is how far down.

Tomorrow will tell the tale when the US markets open.

Yeah, I can’t remember was there a place in Russia that was going to trade in physical silver, if so that may change things as well.

Not that I'm aware off.

Starting Jan 1 China is planning on banning silver exports or at least limiting them. We will have to see how that play out. China is the number 3 producer of physical silver.

Ok very possible it was something else I heard about, whenever there’s limited availability markets trend upward but that maybe factored in, I don’t have anymore beans to sell so beans aren’t a concern for me, but China limiting silver exports worries me in the fact that more tariffs may go on and usually the ag sector is the first hit.

Good to hear you were able to move your beans.

I know the Russian Central Bank has been buying silver. It could be they intend on using it as a vehicle for international trade.

Foreign central banks have been divesting US treasuries and replacing with precious metals.

Could very well be I heard shipments of grain were being attacked and silver would easier to move, the funds have moved to the metals out of grains and livestock here, speculation is when the tariffs and inflation gets settled somewhat then the funds will move back in the grains to make bigger gains on they’re money.

The dollar has been falling that should be good for the grain market as well. I would believe the dollar will be softening more.

Too much of a push to lower rates.

74.82.

We'll be lucky to be over 70 by end of day

Seeing as now one wants to take a stab at this very important question, I'll give my thoughts on the matter.

IMHO if silver goes to $250 to $300 dollars gold will of course go up.

How much? Well, I don't personally see gold going much below the 40 to 1 ratio. What does that mean? It means it will take 40 ounces of silver to equal one ounce of gold dollar value wise. That is 10 to 12,000 dollar gold. If gold goes that high we will be living in a different world. Possibly on the verge of WWIII.

spjones, any thoughts?

40 to 1 is when i will sell and buy back into gold or invest in my tree service / logging business.

At one time I was a big gold/silver bug,,,, not anymore

But I have enjoyed watching

Seems to me we are in uncharted territory

With the ETF’s,,, the chance of a short squeeze is pretty high

Silver could suddenly go parabolic,,,,

Long term gold will continue to rise as a hedge on currency debasement

Long term silver,,,, not so sure ,,,,as they can use graphene as a substitute for silver for industrial uses

You should have stayed in the game it appears

He's in a different game.

Remember what happened to the Hunt brothers

Even much more recently,,

JPM has paid massive fines for manipulating the silver market