That silver move on Friday (Nov. 4, 2022) was a clear outlier yet stocks were mostly flat. What caused silver to pump all the sudden?
Friday silver
- Thread starter FreeGoldRush
- Start date
it was not an outlier.
Last Friday, USD weakened
starting from the Asian session.
So
sliver
gold
copper
euro
gbp
jpy
aud etc etc etc etc
all went up massively.
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Silver moved over 7% in one day! The dollar weakness was trivial compared to a move like that. Mathematically it was indeed an outlier. Just go look at how many 7%+ moves silver has seen in the last 5 years.
Something snapped. Need to dig deeper.
sorry.
No further digger for me.
My previous posting stays valid.
Let other people do the digging.
$USD topped (so far) Sept 28.
was there an options expiry?
Silver is a strange market. Even with this decline from the high 20’s to around $18 there has been very strong demand for physical silver. Large premiums not only on 1oz coins which is kind of normal but even 100 oz bars. Shortages are not unusual. Yet for the last year there are steady paper traders relentlessly selling.
Silver is indeed at times a very unusual market, one filled with occasional major, potentially quite profitable moves that can also be further fueled by huge short squeezes. It is both a precious metal and a key industrial metal, which can create some cross currents. Like with gold, there can also be some "funny business" going on behind the scenes from major players.
And at times silver becomes more like a "religion" than a metal! Some positive correlation with fear among certain sectors of the US population during certain political periods has also been common. Right now the premium on physical is way up, the price is around $27 for a generic one ounce round, US Silver Eagles much more than that and often out of stock. What I do predict is that if key resistance is broken on the futures price, which is not that far away, watch out! Especially with the mid-terms this week ...
And at times silver becomes more like a "religion" than a metal! Some positive correlation with fear among certain sectors of the US population during certain political periods has also been common. Right now the premium on physical is way up, the price is around $27 for a generic one ounce round, US Silver Eagles much more than that and often out of stock. What I do predict is that if key resistance is broken on the futures price, which is not that far away, watch out! Especially with the mid-terms this week ...
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ONE REALTOR laughed / because he had done so much \owner agent buys + sells himself/ ''people buy anything'' A related question why is silver so low for so long/ but good up move from 1929-1930s to present.........................................................??
Better buy +sell DOW/DIA/ silver/ scap iron/ than a good pair of blue jeans like'' True Religion''LOL.
Like the oil driller Bunker Hunt said'' any f**l can run a printing press; buy silver........................................................................................