Silver Highest Nominal Monthly Price Close Ever this squeeze is far from over

@chrisswift7689
13 hours ago (edited)
At the start of the week, the silver prices went back into contango, and there was a lot of rhetoric about the lbma supply squeeze being over. As of this morning after the market has closed, spot silver is $48.67, while Dec futures are $48.25, -42c to the spot price and back in backwardation. The last time the spread hit around -$2, the silver spot price jumped from $47 to $53 in a short space of time. It’s pretty clear that behind the scenes, a lot is going on and this squeeze is far from over. I favour numbers over narrative.