Reported about 1 month ago
A recent spike in silver prices, exceeding $33.6 per ounce, has put five major U.S. banks at risk of massive financial losses due to their significant short positions, estimated to be underwater by $1.3 billion. This increase in silver's value, driven by strong industrial demand and market dynamics, raises concerns over market integrity as critics believe excessive short-selling is artificially depressing prices. The situation reflects a growing trend among investors turning to precious metals as a hedge against market uncertainty.
Source: YAHOO