I agree with you both there is something fishy with this move…..where did all those longs come from who sold, no CB’s sold and they are the biggest buyers by far, no serious funds sold on the first set back in weeks/months, it had to be punters who came in late, with close stops. actual or mental….but no way did enough of them come in to provide the volume….Friday Ag Crimex 195 K, Monday 111 K and ystdy 171 K, which says punters had bought nearly 5 times world production, which they dumped in 3 days…… Note Fridays Vol is greater than either Monday or Tuesday, so it took that much selling to stop the bull run….Obviously not every seller is a new short, but it looks like a hell of a lot were.
The only people that trade that Vol are the mega funds, so either they saw a perfect set up and shorted multiple times world production …maybe 3 or more times….why do that in a mkt that despite what they say is still in a back….London is still a 1 dollar premium, on cash…..as you run the risk of having buyers not being bullied out and puking their longs , but saying thankyou…do you have any more , because I want a lot more .
I suggest you only take those risks, when you have grown arrogant, shorting PM mkts, with the scum to back you up…but the scum aren’t there anymore….My guess is this raid is to try and get some huge shorts out….and wouldn’t it be fun if one of them was Soros.
Cash was trading @ 48.5 when Crimex settled Oct 47.45
https://www.cmegroup.com/markets/metals/precious/silver.settlements.html#tradeDate=10%2F21%2F2025