Eric Sprott: “I Can See There’s A Bit Of A Tightness Showing Up In All Of The Metals”
Eric says if the longs decide they would rather have their metal, things could erupt because the shorts have sold metal that doesn’t even exist. Here’s an update…
Eric Sprott interviewed by Craig Hemke on The Weekly Wrap-Up
It’s been another week of rising inflation and interest rates, but the commodities markets look good, with silver in particular poised for a breakout.
This week, Eric tells you:
- What a possible short squeeze means for you
- Why you should be watching the bond market right now
- And why India might be the next big buyer of gold
“It’s not just the net short position that is important. It’s: What if a Long says to a guy who’s short, ‘I’d like my silver?’ ‘I’d like my metal?’ We have over a billion ounces of short metal in silver. What if the Long simply says, ‘I can see there’s a bit of tightness showing up here in these various metals… maybe I’ll take delivery, thank you very much.’ Of course, as we know, the seller of the silver and/or gold doesn’t have the metals. So, yeah, there’s a very distinct possibility that this could erupt as people are getting more distressed… There are lots of smart guys that worry about the system crashing.”
