video game store chain GameStop, which sent its shares up by hundreds of percent, and there is no shortage of the precious metal, so the market is likely to calm. Spot silver vaulted as high as $30.03 an ounce on Monday from $25 on Thursday morning, while shares of silver miners surged and retailers of bars and coins around the world struggled to meet demand.īut analysts say it will be extremely difficult to subject silver to the kind of short squeeze engineered last week on companies like U.S. Make sure you catch next week’s Live from the Vault.FILE PHOTO: Ingots of 99.99 percent pure silver are cast at the Krastsvetmet Krasnoyarsk non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia, June 5, 2015. Next Episode: Andrew Maguire reassess the gold and silver markets in the wake of this week’s action. The dust has not settled, in fact, the storm is just beginning, and this undoubtedly will change the game forever. In Andrew Maguire’s opinion, these changes will impact the way insiders position in SI and GC, with a particular focus on naked shorting silver, gold stocks and indexes. Positions that have long been relied upon to maintain the insiders’ casino-like 95% win metric, according to the precious metals expert. The precious metals expert believes this upsurge of fresh open interest will bullishly dislodge the much larger and more liquid GC and SI anchors. In turn, Andrew Maguire predicts this will weaken the insiders’ grip on the gold and silver stock index lever – a crucial component of their price capping strategy. What does this mean for silver?Īs Andrew Maguire sees it, the degree of this week’s unforeseeable open interest diminishes the leverage of First Majestic, as well as many other well-shorted silver related stocks. Looking ahead, the precious metals expert believes such monumental external interest has the potential to shift risk-reward metrics, disincentivising the naked short selling of silver and gold. In Andrew Maguire’s opinion, such a large diverse swarm of buy flow, seeking thousands of tonnes of leveraged long options, threatened to take the lid off the entire silver capping manipulation process. However, Andrew Maguire reports that the sudden tidal wave of individually held SLV-focused interest made it extremely difficult for insiders to calculate these pain points. As insiders are secure in the knowledge of the pain points of those specs who borrowed longs, sitting on their books. The precious metal expert explains that, historically, insiders have been able to take the short side of spec longs with impunity. With the global spotlight shining on billions of dollars of bearishly skewed, potentially vulnerable bets – what does this mean for silver going forward? Silver short squeeze market disruptionĪlong with the rest of the world, market making insiders were clearly not prepared for this massive influx of Reddit-leveraged silver interest, according to Andrew Maguire. Insiders gathering physical silver: 15:40Īlthough the market swell of Reddit’s leveraged traders has subsided, Andrew Maguire anticipates that this week’s action will have a lasting impact on the silver market.Impact on gold and silver markets: 05:31.Watch this week’s Live from the Vault for: Contact support Any questions? Get in touch. ![]() Help Centre Find out what you need to know.Video Lessons Kinesis explained in 11 videos.Live from the Vault Gold and silver news with Andy Maguire.Media Centre Latest blogs, news and videos.Business Integrate with Kinesis technology.Indonesia A gov-backed national project.The Team Meet the people behind Kinesis.Trust and security Your assets are in safe hands.Kinesis Exchange Trade gold, silver and crypto.Kinesis Mint Create Kinesis gold and silver.Hardware Device Access your assets offline.Kinesis Card Spend gold and silver globally.
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