Silver Explodes Above $87 as Shorts Burn!
Bian Ximing Facing Heat on Massive Silver Short
Billionaire Chinese trader Bian Ximing, holding one of the largest net short positions on SHFE silver (approx. 450 tons), appears under pressure as silver prices surge on February 23.
Verified: Bloomberg, Fortune, and Yahoo Finance confirm Bian built the exchange's largest silver short in early February 2026 after profiting billions on gold; the meme-style post coincides with silver's +3-4% intraday gain, turning his position into mounting paper losses.
Rongtong Gold Offers Premium Scrap Silver Buyback
China's largest precious metals recycler, Rongtong Gold, posted buyback prices for scrap silver at 21.186 RMB/g (sell at 21.286 RMB/g) on February 23, with high/low range 20.850-21.414 RMB/g — signaling strong physical demand while SHFE remains closed.
Verified: Official Rongtong Gold pricing table screenshot (timestamped 2026-02-23 09:21:41) shows exact figures; equivalent to roughly $91-96/oz USD depending on CNY exchange rate, consistent with post claim and elevated physical premiums amid holiday closure.
Silver Soars Over $88, Erasing Recent Slam Attempt
Silver wiped out downside pressure and climbed above $88/oz intraday, up nearly 4%, with analysts noting momentum building ahead of China's market reopening.
Verified: Real-time XAG/USD chart from Investing.com shows price hitting 87.9835 (+3.94%) around 09:46 UTC; multiple sources (JM Bullion, Kitco, Trading Economics, APMEX) confirm spot trading in $87.50-$88.13 range on Feb 23, 2026, with strong safe-haven and industrial buying.
Vince Lanci: Silver Above $94 Could Explode Toward $110
Prominent precious metals analyst Vince Lanci stated that clearing the $94 resistance level would make silver "something to behold," potentially launching an explosive rally back toward $110.
Verified: Lanci (GoldFix newsletter / Echobay Partners) has repeatedly highlighted silver's structural bullish setup in 2026 interviews and analyses; current breakout above recent highs aligns with his technical commentary on limited resistance to triple-digit targets amid liquidity constraints and demand.