"In other gold and silver news, the Central Fund of Canada's underwriting agreement with CIBC is now complete. Of the $340 million offered...$210 million was taken. That's a huge amount, even more than I was expecting. The closing should occur on or about April 16th. At that time we'll find out how much gold and silver bullion they will have acquired. A back-of-the-envelope calculation based on $195 million in bullion purchased [at yesterday's prices] indicates about 130,000 ounces of gold and 6.5 million ounces of silver will be added to their stash."

That explains the big drop in CEF premium yesterday. This may be a good buying opportunity as CEF premium fell from over 16% to ~ 5%. I expect the premium is the interest in honest paper investment in silver and gold as opposed to the ETF's and other cabal sponsered certificate forms. The premium should start rising in two weeks and settle around the 15% range regardless of actual pm prices.