Silver Price Crash Looks Strange When You Look at This Data
Photo: Pixabay (illustration)
Silver price suffered a steep decline yesterday , falling roughly 6% as hotter U.S. inflation data hit precious metals and triggered another round of selling across markets. But Macro Liquidity analyst Sunil Reddy argues that the move may not have been a straightforward case of investors abandoning silver. His reasoning comes from activity in the iShares Silver Trust, better known as SLV. Reddy pointed out that SLV shares outstanding increased by around 450,000 shares during the selloff, representing roughly 400,000 ounces of additional silver backing. That creates an interesting divergence: silver prices fell heavily, but the ETF itself expanded.
Source: CaptainAltcoin
