Comex registered silver inventory has dropped below 100Moz on 10 Feb with over 3M oz leaving it's vault on 1 day. Their open contracts accounts for 340Moz so the ratio is about 3.5.
Without the Chinese market to act as a counterweight, I think silver price will be pushed down aggressively to flush out investors without deep pockets. After CNY holidays, I expect silver to rebound strongly as the physical supply is very tight.
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Buy Close | 0.20 50Lot(s) | +78.77% Closed |
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- FrankRebecca·02-13 10:34Big drop indeed! Silver might dip short-term, but I'm betting on a rebound post-CNY. [看涨]LikeReport
- Cashflow Blazer·02-13 14:44We have the same view of the marketLikeReport