According to ZH this is why silver tanked recently.
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According to zero hedge, this is the only reason PM’s ever trade down.
At the height of the crisis in the summer, the same reason was given for the gold sell off. Because we all know that there is no way people would ever want dollars over gold in the world we live in…
Maybe it is true this time. Seems to be a little behind the curve on Shanghai’s part.
Not behind the curve at all Left’
just a way to create supply without creating price increase during open market buying.
Also during a flight to liquidity money will be extracted from profitable areas like oil getting hammered yesterday.