In this report, we focus on silver, illustrating how silver derivatives on Comex and London are becoming irrelevant. This is because price discovery has moved to Shanghai, whose premiums are leading to physical metal being drained out of Comex and London vaults. But next week, with Shanghai closed for business, expect even greater price distortions in the days ahead. Indeed, Shanghai is closed as of now.
Silver slammed in thin trade
Evidence is mounting that the silver shorts on Comex and London are desperate to close their positions. Will they use the Chinese New Year holiday to this end?
