"Everyone's Grandma Is Selling The Silver Chandelier, Forks, Knives" As Scrap Volumes Overwhelm Refiners

"Everyone's Grandma Is Selling the Silver Chandelier, Forks, Knives" as Scrap Volumes Overwhelm Refiners

(Zero Hedge)—Silver’s explosive January rally, which briefly pushed futures prices above $120 per ounce, has since fizzled, with futures trading around $82 as of Thursday morning. Even so, the frenzy has sparked a sharp increase in scrap silver volumes flowing to refiners, as people rush to sell silver coins, sterling dinner sets, candlesticks, and other heirlooms inherited from grandparents or Boomer parents. Bloomberg reports coin and jewelry …

“Everyone’s Grandma Is Selling The Silver Chandelier, Forks, Knives” As Scrap Volumes Overwhelm Refiners

from ZeroHedge: Silver’s explosive January rally, which briefly pushed futures prices above $120 per ounce, has since fizzled, with futures trading around $82 as of Thursday morning. Even so, the frenzy has sparked a sharp increase in scrap silver volumes flowing to refiners, as people rush to sell silver coins, sterling dinner sets, candlesticks, and […]