Quick Update: Gold/Silver Lease Rates

I cautioned that the silver price could plunge due to silver lease rates going down in this post on 19th August, 2012.

I forecasted that when lease rates go down, the silver price would go down with it a few months later.

That has come true, but now the lease rates are starting to go back up. So we could be close to a bottom formation. I'm getting my cash ready to buy silver again in a week or two.

Chart 1: Silver Lease Rate

The same is happening with gold lease rates.

Chart 2: Gold Lease Rate