Strange goings-on in silver

jmski52

It looks like a fair number of silver trades are going to be screwed up.


Interesting Stuff

TwoSides2aCoin

That link is blank, friend. However, I would agree that pencil pushers and paper shufflers do not have a "real grip" on metal.

tincup

I wonder if this is the link... very very odd, and some individuals probably lost money with what happened.



"silver market was thrown into disarray on Thursday after the LBMA Silver Price was set 84 cents below the spot and futures price"



Not sure how to post the link, but here is web address:



http://www.zerohedge.com/news/2016-01-28/silver-market-disarray-after-benchmark-price-fix-manipulation

roadrunner

Linky



The 1 min silver contract volume on Thursday's 7:15 am EST spike was larger than any minute seen during the FOMC swing just a day earlier. It was basically a mirror image of the FOMC volume. I found it interesting that the algo's jumped right in on that silver fix price dip and pushed silver down to $14.003, just filling Sunday night's overseas opening gap at $14.004. Quite often (90%?) price returns during the week to cover over those Sunday night "unauthorized/unsupervised" PM openings. When the timing and price are this close, it does make you wonder. 4K-5K in gold and silver contracts were dumped in that one minute.



Gold didn't quite respond as negatively as silver at first. But 2 hrs later at 9:00 the selling attempt was repeated and gold went down even harder than silver, completing erasing the FOMC spike up.