Silver Explodes: China Premiums Hit $120+ Amid War Fears!
Physical Silver Buyback Premium in China Surges to Over $120/oz
Silver buyback prices in Shenzhen’s Shuibei market surged by nearly $20/oz equivalent today, pushing physical silver buyback prices north of $120/oz amid fears of supply shortages due to the escalating US-Iran conflict. Small distributors are reportedly holding back sales.
Verified: This matches reports from precious metals analysts tracking Chinese physical markets, including trader updates on X; physical premiums in tight Asian markets have spiked during geopolitical stress before, though the exact $120+ level stems from real-time market observations rather than official exchange quotes. Spot silver is around $93-94/oz on global markets.
Massive Gap Up Expected in Silver on Globex Open
Anticipation of significant gap ups in silver (7-10%+) and gold (5%+) when Globex opens Sunday, driven by Middle East war developments, though mining shares could face a huge sell-off next week unless the conflict de-escalates quickly. The poster sold all mining shares to avoid weekend paper market risks.
Verified: Geopolitical escalations often trigger safe-haven buying in precious metals; tokenized gold has surged (e.g., to $5,500 levels in related reports), and silver spot rose sharply to ~$93-94/oz amid tensions, supporting potential weekend gaps, though exact percentages are speculative.
Banksters Halt Metals Trading Ahead of Silver First Notice Day
Metals trading was halted just before First Notice Day for silver, seen as a desperate move by "banksters" to avoid delivery pressures. Speculation ties this to potential extreme upside like gold to $6,000 and silver to $500 amid broader chaos.
Verified: CME Group did halt electronic trading for metals amid volatility (reported by Kitco as derailing a silver rally near $90+), coinciding with high delivery interest and First Notice timing; halts occur in extreme conditions, but claims of deliberate manipulation align with persistent silver community narratives rather than proven intent. Silver futures settled around $93+.