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Why did silver spike on Friday? Silver spiked because of Eric Sprott. For those that do not know Eric Sprott is a billionaire who believes silver will be the investment of the next decade, I agree. Sprott has a physical gold and silver trust based in Canada.
On Friday Sprott issued a $300 Million follow on offering, Sprott will use the cash to buy physical. If you are a share holder of the trust you lost abut 10% but silver was up 5%.
This shows the physical silver market is gaining traction. A Zerohedge.com article said the following, “So to summarize: speculation that $300 million in physical silver may be taken out of circulation raises the price of the underlying by 5%. Does that mean that a $3 billion follow on would result in a 50% rise in spot; $30 billion in 500%, and so on?”
Physical silver is a tiny market. A couple of billionaires could take out much of the global supply. A public who has lost confidence in the currency could wipe out the physical supply. Industry who realizes a silver shortage is likely and buys physical for their operation could wipe out silver supply. The military hoarding resources including silver for war could wipe out silver supply. Every missile that explodes has silver.
This is the year the physical takes control. Who wants to hold paper silver? Good luck demanding delivery on your silver. You will get a cash settlement, in other words dollars. Then those dollars are used for physical, because those investors wanted the silver not dollars.
Your hedge 
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We believe Asian demand for physical gold and silver is akin to a tsunami. While precious metals prices have corrected on the paper exchanges, the inflation resurgence in Asia is quietly driving new, unforeseen levels of physical demand for the metals. While the world continues to float on a sea of paper, this massive wave of physical demand silently threatens to crash into the physical gold and silver market, potentially wiping out tangible supply.
Great points. Thank you for the comment.
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