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Silver Strongly Regains $17 Handle With a 1.5% Monday Morning Move

by Kenneth Schortgen, The Daily Economist:

On May 22 silver is up over 1.5% to $17.20 as it finally breaks through the $17 resistance barrier after three attempts in the past seven days.

In fact silver is up over $1.00 since its May 9 lows of $16.20, and has alot of steam behind it with many of the open shorts on the Comex being covered this month.

For 14 consecutive days, the amount standing for physical has risen. On First day notice 16.8 million oz were standing; tonight 22.94 million oz. It looks to me that sovereign China wants its silver back as it looks like we have a determined player with deep pockets willing to take silver away from the COMEX… РSilver Doctors

Read More @ TheDailyEconomist.com

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