Going into the London close Wednesday, precious metals were raided.
But then, a funny thing happened…
from Silver Doctors:
(4:15 p.m. EST post-session update: It’s no surprise to see silver and gold fall back down. But the take-home message of the “signal value” of the state of the market discussed below remains unchanged; the snap-back spike happened because the tight physical market is asserting itself in the real world, outside of the 200-to-1 paper versus physical lunacy we have that passes for precious metals futures exchanges)
The near vertical snap-back in silver even surpassed yesterday’s price corresponding to the same time the previous day.
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