I thought years ago silver was being manipulated.
But now millions of people are demanding physical, and the manipulator's cannot manipulate that.
I read there is panic buying of silver, and, as mentioned, one can guess a lot of it is regular people who will just squirrel it away.
I saw in China silver goes for 59$ an oz?
The silver situation, when one thinks about it, is a perfect storm.
It has been moving up carried by gold, but it has brought attention to the fact supply/demand had been running 200 million oz short for four years.
Now a huge new demand variable, investment interest, is pulling supplies off the market and into a void, that cannot be manipulated, only engaged by paying a fair price.
Such an interesting coincidence that gold should rise in a parabolic manner, due to "paper" fears and de-dollarization and US instability, just as silver is running a huge deficit based on fundamentals.
And such a simple equation
AI Overview
Yes, JPMorgan Chase paid a record
$920$ 920
$920
million fine in 2020 to settle charges that its traders engaged in manipulative trading of precious metals, including silver. The Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) announced that the bank admitted to engaging in a scheme of "spoofing" to manipulate prices in the futures markets for metals and Treasury bonds.
Spoofing:
The manipulative practice involved placing and then quickly canceling orders to create a false impression of supply or demand, with the goal of influencing market prices.
Duration of the scheme:
The illegal trading activity lasted for at least eight years, involving hundreds of thousands of "spoof" trades.
Consequences:
In addition to the fine, six JPMorgan employees were also charged with rigging the prices of gold and silver futures.
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