Silver price swings led by Shanghai trades

Discussion in 'Metal Futures' started by ASusilovic, May 12, 2011.

  1. Chinese speculators have emerged as a big driver of silver’s spectacular rally and subsequent crash with trading in the metal in Shanghai soaring nearly 30-fold since the start of the year.

    The commodity, nicknamed “the devil’s metal” for its wild price swings, surged 175 per cent from August to a peak of almost $50 a troy ounce two weeks ago. Since then, it has plummeted 35 per cent, hitting a low of $32.33 on Thursday.

    http://www.ft.com/cms/s/0/bc37e2e2-7cc9-11e0-994d-00144feabdc0.html#axzz1Lo6t5qs9
     
  2. Looks like its going lower than thur/panda bear short term trend;
    those short & medium term trends add up.:D