by Dr. Jeffrey Lewis, Silver-coin-investor:
Could China be the big silver long? Who else has deep enough pockets to endure the recent price weakness and the increased margin requirements that typically follow?
Nevertheless, the Chinese willingness to accept fungible dollars instead of precious metal seems to be waning. They are quietly accumulating metals..
Perhaps this explains why the silver open interest has remained stubbornly high throughout the most egregious washouts the silver market has seen in years.
Normally this has the effect of clearing out weak longs, often setting the scene for a price turnaround based on the COT structure.
This could be just a subset of a peaceful currency maneuvering plan.
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