Hong Kong Merchantile Exchange HKMEx to start trading silver futures in 2-3 months!Submitted by ambishop on Wed, 05/25/2011 - 13:43
In 2-3 Months and HKMEx http://www.hkmerc.com/en/index.html will start trading in Silver.
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.