A horror story in paper markets

Our headline chart shows silver storming ahead amid reports of backwardations and soaring lease rates. Will it continue, and will gold be next?

Driven by poor liquidity, in Europe this morning silver was $45.03, up $2.00 from last Friday’s close. Gold was up a less spectacular $68 at $3750 on the week, but with a firm undertone.

In this report, we look at what is currently driving gold and silver prices higher, and whether it will continue.