(May 3rd, 2011)
- any sale of PSLV has gone into physical silver or silver equities
- believes a group of traders is trying to work the silver price down, especially this past Sunday night.
- he DOES NOT think silver has hit a high
- said gold should approach $1600 soon and with a 16:1 ratio he still believes silver can go to $100/oz
- Sprott says he was definitely playing the arbitrage on PSLV vs physical silver
- the quantities of PSLV traded where very small compared to their overall silver exposure.
- Sprott physical silver exposure is the highest it’s ever been
- believes it’s possible the current drop in silver may have been orchestrated for last silver shorts that need to cover.
- he suspects that after this silver price drop it could run back up again to where it left off.
- very little doubt that silver will go over $100/oz
See full interview on kingworldnews here.