Tsafi

[popeyej]

Thank you very much Kevin. Even though today is a holiday silver is being traded worldwide. For some reason Kitko will not consider this a trading day.

Today gold closed down $8.70 at $833.70 and silver closed down .08 at $11.14. For the past few weeks the lease rates have been dropping rather rapidly with three of the five rates now below 1%. All rates have dropped 1% or more during this time making it a good time for the paper players to roll over their contracts. Only the six month and one year rates remain above 1% so those contracts are still under pressure.

The gold/silver ratio is currently 74.8.