Loading ...They don’t even need try. The idiot speculators / managed money who are too sophisticated to buy physical do the majority of the work for them. All the bankers need do is tip them over when PM’s get overbought and then it’s right back down again. Clearly $1500 and $18 are ‘no mas’ lines for the bankers now. The metals get over these thresholds and the bankers will sell unlimited futures contracts increasingly to keep prices suppressed.
Hence record open interest (OI) in futures contracts these days, unlike in 2011 when OI was at long term lows. The bankers didn’t have the interest to push back on in 2011, so prices went up. Physical demand was king.
That’s why until these idiots stop playing the leveraged paper PM’s are stuck.
So I don’t understand why everybody’s bullish out the kazoo.
They must be nuts.
Chuckle