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Hong Kong Merchantile Exchange HKMEx to start trading silver futures in 2-3 months!

In 2-3 Months and HKMEx http://www.hkmerc.com/en/index.html will start trading in Silver.
http://www.youtube.com/watch?v=E6zwrKr_vpg&feature=feedu

This means that HKMEx will be buying heavy to stock the exchange over the next 2-3 Months. IF they are going to try to hit COMEX Average Silver stocks that is 100Million Ounces! COMEX has 35 Million (possibly as of today 70 Million) ounces. So even if they are to match COMEX today that is between 30-70 Million ounces purchased and moved to HK.

This is very big news and very bullish for Silver. You can expect Silver to continue this upward trend and many who are short will want to cover quickly.



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will silver go higher because

will silver go higher because of this move ?

yes. Silver should move

yes. Silver should move higher especially in the short term with the metals being taken off the market to prepare for the new metals exchange. The Supply will be shrunk while the exchange will be preparing to sell.

Then this will also put pressure on the COMEX as Asia will be able to trade on the Hong Kong exchange instead of the GLOBEX, COMEX or LME, which are all being manipulated.

Think about the impact here. short term less supply, long term more transparency and less volatility especially on the overnight trading.

This is very good for Silver, especially since silver is such a small market. Total Annual product is stated at 700M ounces, and demand is already over 700M Ounces. This puts the demand 100 Million ounces additional over supply.

IN ADDITION. The Shanghai Futures Exchange will be offering Silver Futures this year as well! That means two new Silver markets that must load up on physical silver to meet deliver of the futures contracts

http://news.xinhuanet.com/english2010/china/2011-05/21/c_138...