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"No Longer Gold's Quiet Sidecar": Silver Surges To Record High As China Demand Exacerbates Squeeze
As we have detailed extensively recently (here, here, and here), silver's latest breakneck surge to record highs was in large part due to collapsing inventories of the precious metal in Chinese warehouses linked to the Shanghai Futures Exchange, which just hit the lowest level since 2015. The squeeze continues to accelerate and this morning the white metal topped $59 - a new record high... chart ...as rising rate-cut odds support the buying... chart ...and Chinese demand continues to build back inventories... Strong inflows to exchange-traded funds added more impetus to a scorching rally, as Bloomberg reports, ... (full story)
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