CQG News | GameStop and Silver- Strange Bedfellows Could Make The Precious Metal Roar
Summary
The action in GameStop during the final week of January could be a sign that silver could be the next target for a herd of traders and investors looking to hit critical inflection points that lead to monstrous price volatility on the upside. Moreover, many conspiracy theories surrounding silver supplies and risk positions at the leading financial institutions could make the metal a focal point for herd activity. The silver market is rife with manipulation cases and fines on leading financial institutions and individual traders accused of price-fixing, spoofing, and other illegal actions. Moreover, more than a few analysts and market participants believe that there is not enough silver and gold to cover the slew of ETF and ETN products designed to replicate the price action. Market participants may shift attention from GME and other stocks with high levels of short interest to the always volatile silver arena or silver-related derivative products and even mining shares.
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