Silver crash engineered by JPM to cover shorts at bottom
(twitter.com)
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I just noticed that Silver rounds are being purchased by professional traders at spot. The usual premium of 7-13% has evaporated.
One trader offers 5% above the 73-Euro price
Bars are being purchased at 2% below spot.
It looks like they are playing like there is an abundance of silver to be delivered.
On the other hand, in terms of bars, a 1000 TO seems to be in stock in Switzerland only. Less weight is not in stock. Price per ounce comes down to 73,38 Euro's, equal to about: $-87. industry wide there is expected a 3-7 weeks delivery backlog.
In terms of Rounds: one trader only has 28 rounds (pre-owned) in stock ....nothing more. backlog:4 week - 7 weeks,
In other words .... this is price positioning due to insecurity, and there is no stock to actually speak of.