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Silver Follows Smart Money
From hero to zero, it takes just one step. Once hailed as "gold on steroids," or "gold squared," silver has now turned into the "widow-maker." It can quickly punish traders who overvalue its upside. That is exactly what happened at the end of January, when XAG/USD plunged by 36%, marking an all-time negative record. At that moment, it became clear the bubble had burst. The situation inevitably brings to mind the story of the Hunt brothers, who cornered the silver market in 1980 and drove prices up to $50 per ounce. After that, the market collapsed and failed to return to those levels for more than 4.5 decades. The ... (full story)