Several weeks back I had decided to leave the PM's alone because they just weren't giving good signals, especially SLV. Recently SLV took up a new correlation, it was practically USO's shadow, not today.
USO in green, SLV in red on a 60 min chart.
Today's 12+% drop in SLV
10 min 3C seems to have picked up on it, although like I said, the signals are weak, this should have been a 15 min leading negative on this kind of fall.
Remember the days of Blythe Masters silver manipulation? And then the unpredictability of the margin hikes. There have been a lot of questions around GLD/SLV, legal ones, like where's the underlying metals, are they leased or owned, are they accounted for, etc. It's too bad, it seems there's so much underlying manipulation and confusion, especially in silver, they have really ruined a good trading vehicle.
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