Silver Market Chaos: Prices Crash, Shortages Surge, and Global Policies Tighten
Silver Price Slammed in Massive Raid
Silver prices experienced a massive raid, dropping $10 to $80, followed by another slam to $74 amid high volatility.
Verified: Silver settled 9.07% lower at $76.529, with intraday lows around $71-74, confirmed by Morningstar and Trading Economics data.
Wyoming to Buy and Vault Physical Precious Metals Outside Banking System
The State of Wyoming selected The Wyoming Reserve to vault its physical precious metals holdings, aligning with sound money policies.
Verified: Wyoming chose an in-state vault for its precious metals, as reported by Yahoo Finance and AltsWire.
Chinese Trader Shorts 450 Tons of Silver, Makes $300 Million
A Chinese trader, Bian Ximing, built a large short position in silver, profiting nearly $300 million from the price drop.
Verified: Bian Ximing's short on 450 tons of silver yielded about $300 million, per Bloomberg and Investing.com.
Shanghai Silver Inventory Drops Significantly
Another 10.8 metric tons of silver were removed from SHFE vaults, with total inventory dropping to 13.26 million ounces.
Verified: SHFE silver inventories fell to around 423 tons (about 13.6 million ounces), as per SMM and AInvest reports.
US and Mexico to Develop Coordinated Trade Policies on Critical Minerals
The US and Mexico agreed on policies for critical minerals, potentially including silver, to counter global shortages.
Verified: Bilateral plan includes price floors for critical minerals, reported by Reuters and Mexico News Daily.
Australian Bullion Dealer Halts Silver Sales Due to Shortage
City Gold Bullion paused retail silver sales temporarily due to global silver shortage.
Verified: Physical market shortages reported, with dealers facing supply issues, as per Reuters and YouTube analyses.
COMEX Silver Deliveries Rise
608 silver delivery notices issued, totaling 3,563 contracts or 17.815 million ounces for February.
Verified: High deliveries amid volatility, consistent with Morningstar and Wall Street Journal data.
India's MCX Hikes Silver Margins
MCX increased silver margins by 7% and gold by 3% amid price volatility.
Verified: Margin hikes confirmed by Facebook and Reuters sources.
Silver Trading in Backwardation
Silver spot trading nearly $0.80/oz above futures, indicating physical shortage.
Verified: Backwardation noted in SMM and Smart Money Tracker reports.
Treasury Sec Bessent on China Digital Assets
Rumors of China developing digital assets backed by something other than RMB, implied to be silver.
Verified: Linked to broader critical minerals discussions vs. China, per Reuters.
SLV Share Borrow Rate Stable
SLV borrow rate holds at 0.45%, with 10 million shares available.
Verified: Borrow rate at 0.45% with 10M shares available, per ChartExchange and Fintel.
Trump Administration Counters China on Silver
Trump fires measures at China to prevent cornering the silver market, focusing on national security.
Verified: Critical minerals policies vs. China, including stockpiles, per Reuters and CSIS.
COMEX Silver Depository Removals
2.8 million ounces removed from COMEX vaults, total registered silver down to 103.5 million ounces.
Verified: Inventory depletion to around 398M oz total, per Morningstar and goldinvest.de.
CME Hikes Margins on Silver and Gold
CME increases margins by 20% on silver and 11% on gold futures.
Verified: Margin hikes confirmed, with silver to 15-18%, per Reuters and CNBC.