Silver Meltdown or Moonshot? China’s $68 Squeeze Sets Off Global Panic | Metals Mine

  • Silver Meltdown or Moonshot? China’s $68 Squeeze Sets Off Global Panic

    From fxleaders.com

    Silver sank after briefly breaking below $68 an ounce amid a historic rally driven by speculative trading and a persistent supply-and-demand mismatch. Increased central bank purchases, inflows into exchange-traded funds, and three consecutive rate cuts by the Federal Reserve have made precious metals hot in recent months. The value of China’s only pure-play silver fund dropped by its daily maximum of 10%, ending a wild bull run that led the fund’s manager to issue rare warnings. The sudden decline in the UBS SDIC Silver Futures Fund LOF follows weeks of gains driven by increasing global interest in precious ... (full story)

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    U.S. peace deal with Iran in question as Israel strikes Lebanon

    From cnbc.com|3 hr ago|28 comments

    An anticipated deal to stop the war with Iran and open the Strait of Hormuz hangs in the balance as Israel and Tehran-backed Hezbollah in Lebanon traded strikes Sunday. The Israel ...

    Trump: There should be no more attacks by Israel anywhere in Lebanon

    From @realDonaldTrump|5 hr ago|85 comments

    This morning’s attack on Beirut should not have happened, particularly on a special day when we are so close to a Peace Deal with Iran. Israel has the right to defend itself against threats, but the attack it was responding to was very small and meaningless, nobody was hurt, injured, or killed, and should not disrupt this important process. We are very close to a Deal that will bring peace to the region, including to Lebanon, and all sides should stand down. There should be no more attacks by Israel anywhere in Lebanon, but there should also be no more attacks by any other party, including Hezbollah, against Israel. This could be the beginning of a long and beautiful peace — Let’s not blow it! Thank you for your attention to this matter. President DONALD J. TRUMP

    Between Trump and a hard place: Fed chair Warsh to lead first rate meeting

    From finance.yahoo.com|5 hr ago

    US Federal Reserve chief Kevin Warsh will chair his first meeting of the central bank's rate-setting committee next week caught between a rock and a hard place. Inflation is at a ...

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