Silver price rebounds following a savage attack on the COMEX
By Duncan Richardson, News Editor
07 Mar 2017
The silver price has consolidated in recent days following Thursday’s savage attack which saw the silver price fall 4% in under an hour. Just as the European markets closed, someone decided to dump over 23,000 silver futures contracts or 1.15 million ounces of silver into the paper market.
Prior to the sell off the silver price had broken $18 per ounce and was trading above the metals 200 moving average. The price decline was usual as there was no breaking news or announcements from the Federal Reserve. The usual price action has led many to speculate the take down may been orchestrated by a bank or financial institution acting on behalf of a central bank.
Deutsche Bank has already settled a lawsuit claiming the institution had manipulated the gold and silver price.