You will notice that in overnight trading Silver got hammered down to the low $26.00 mark.
The Shanghai Gold Exchange, the Asian counterpart to the CME, hiked their margins on Silver by 20%. This follows the CME move on Friday which hiked margins on that exchange by 16%.
Will we see multiple margin hikes like we saw at the end of April/beginning of May 2011?
Stay tuned... this will be a week to remember in precious metals. Silver has already swung from $26.00 to $30.00 and back to $28.00 this morning.
To characterize this time as one of 'violent volatility' is almost an understatement.
Stay tuned... this will be a week to remember in precious metals. Silver has already swung from $26.00 to $30.00 and back to $28.00 this morning.
To characterize this time as one of 'violent volatility' is almost an understatement.
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There will come a time when these exchanges will no longer be able to manipulate the price with this margin increase method, then let's see where the price goes!
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