'Pick a Number' On SILVER as Shorts Set to BURN in 'Unstoppable' Rally: Ed Steer
Why It Matters
If Steer is right, markets could see sharp, rapid price spikes, wider physical premiums, and a reorientation of global price discovery from Western futures markets to Asian physical markets—raising risks and potential opportunities for investors, bullion dealers, and commercial hedgers.
Summary
Precious-metals commentator Ed Steer warned that decades of alleged suppression have left gold and silver prices disconnected from physical reality and predicted an “unstoppable” rally once commercial shorts are forced to cover. He says eight large commercial traders have aggressively compressed prices—covering tens of thousands of short contracts—to induce long holders to sell, but that cycle will end and trigger a dramatic short squeeze in silver. Steer also highlighted a rising Shanghai premium (recently around 10%) driven by heavy Chinese and Indian physical demand, noting that physical markets in Asia could eventually set prices if China reduces reliance on COMEX benchmarks. He expects a tectonic shift in price discovery and substantial upside for physical metals when that transition and the short-covering event occur.
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