Yesterday's move in silverI read that silver did so well yesterday because short traders in Asia were forced to cover their bets. Really? They did so by using accounts in Europe and NYC? I ask because as those markets opened, the price continued upward thru their closings.
O.k., maybe I can buy that partially. But all metals did well yesterday, and in PMs, silver's move was not out of line with that of gold or platinum.
Speaking of gold, I thought this morning to check the gold//silver ratio. It does suggest that an "improvement" is underway in favor of silver. Please check the graph in the following link and read in the "guide" below the chart, noting where it says, ...
"The ratio is most useful at its extremes. When the ratio has topped 80, it has signaled a time when silver was relatively inexpensive relative to gold. Silver went on to rally 40%, 300%, and 400% the last three times this happened."
https://goldsilver.com/price-charts/gold-silver-ratio/
If the above holds true, we could be in the "rally" phase of an adjustment in the ratio favoring silver, something that foolishly may not have been in the short trader's calculus.
BUT NONE OF THIS IS OFFERED IN SUPPORT OF NORTHERN LIGHTS. IT REMAINS A LONG SHOT WITH ADDITIONAL FINANCINGS ON THE HORIZON. I think it is a good long-odds bet at current prices, but not worth more than pocket change.