Trader Dan Norcini tells King World News:
“As a matter of fact, when we look at that weekly price chart now, Eric, 4 out of the last 5 weeks preceding this one the silver has dipped down to $30 or below $30, and it has encountered very substantial buying down at those levels. The bears could not crack the market below that ($30 level).
What that means is if there is a demand for silver out there and it can’t be met by the available supply on the market, the price is going to have to go higher. It’s going to have to get to a level where people where people who are holding these big bars are willing to relinquish it in size or part with their metal.”