Government: Silver Squeeze

In London, on the world's biggest free silver market, the price of futures in silver last week rose to 92⅞¢ per oz. This was a mere quarter of a cent over the current price, but it represented the biggest futures spread in 19 years. The fraction was small, but in the tight silver trade it was a lot. It was also a warning signal, as London silver brokers Mocatta & Goldsmid Ltd. put it with characteristic British understatement, that "those, who take a longer view are inclined to foresee a deficiency of silver." Consumption of silver in industry and...

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