More evidence last week that the decade-long paper positions used to suppress gold and silver prices are being wound down along with Turd Ferguson's analysis (via Butler Research) that JPM has soaked up more than 90% of the actual COMEX silver delivered thus far in July suggests that we may've recently hit bottom, or are very close right here and now. Why has JPM taken delivery of 7.4 million ounces of silver? Turd surmises that JPM sees the writing on the wall and is left with three choices. For physical buyers I believe current prices in the low $20's are almost free, and that any more pressure here will cause some physical products to go AWOL, again. We are currently sold-out of silver maples until early August. We do have a reasonable supply of 1oz wafers and our 10oz & 100oz bar supply is healthy, however premiums are higher than average and are anticipated to climb. Can the criminals push gold prices back below $1200? I suppose, but my guess is it will be fast and furious and that higher premiums are likely (in April we saw premiums jump three times in the aftermath of their mid-month attack). The obvious wildcard here is more stress in Egypt/Suez which has been described recently as sheer chaos. In my opinion stacking more physical silver or gold here is a great idea, please contact me should you wish to make a move ... Steve