Word: mocatta
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Dates: during 1960-1969
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...This was a mere quarter of a cent over the current price, but it represented the biggest futures spread in 19 years. The fraction was small, but in the tight silver trade it was a lot. It was also a warning signal, as London silver brokers Mocatta & Goldsmid Ltd. put it with characteristic British understatement, that "those, who take a longer view are inclined to foresee a deficiency of silver." Consumption of silver in industry and in coinage is far outrunning mine production (see chart), and London silver merchants are convinced that short supplies will soon send silver prices upward...