Told You, Silver About To Get Spanked.
I've been watching the APMEX price yesterday and today and it is still at $43.94 for a silver eagle. It has not changed!!
I looked at the India market and if my calculations were correct, what happened in India's NCDEX Saturday market, which is from 10am to 2pm (12:30am to 4:30am eastern time), extrapolate to a Silver Comex price of around 39.06, which would have been at 3:43am eastern time Saturday (if our market were open). Since the Comex silver spot price closed on Friday around 38.24, this would represent an increase of +2.1%. Bear in mind that this was after the S&P downgrade, so the India market was well aware of it.
I wouldn't put a lot of faith in this, but it is certainly bullish. I believe there will be wild fluctuations and whipsawing in the Comex.
Here's the link: http://www.ncdex.com/Market_Data/Spot_price.aspx