Has the #silversqueeze already fizzled out?
Hard to know at the moment. Prices are being hammered down this morning as the CME hiked COMEX margin requirements by 18%.
But according to this interview last night with Robert Mish, an independent precious metals dealer with nearly 60 years of experience in the industry, inventories have been overwhelmed by the wave of retail buyers making purchases over the past few days.
As a result, the price of physical silver is currently MUCH higher than paper silver.
If this buying pressure continues, he sees the price of paper silver being pushed up into the $35-50/oz range in the near term. But that’s only if the army of retail buyers keeps at it.
How will we know if the #silversqueeze army is successful in creating a true silver shortage?
Robert shares his war stories from previous panics in the ’60, ’70s and 1980 to give us a sense of what one will look like if it indeed happens:
