Physical metal shortage is squeezing-out London’s leveraged price-set mechanism that uses silver promissory notes to create virtual silver supply in the world’s largest physical silver market. In the face of this, TD Securities has taken a tactical trading loss on silver whereby it was betting that silver would see a price decline as silver approached $50 /oz. “TD Securities (TDS), the investment banking arm of Toronto-Dominion Bank (TSX: TD, NYSE: TD), has incurred a significant $2.39 million loss after closing a tactical short position on silver. … …TD Securities’ ill-fated short position was initiated when silver ... (full story)