Given that silver derivatives typically dictate the spot silver price and thus the majority price for silver bullion. The ongoing controversy of fractional-reserve-led silver price discovery continues.
What is evident in the following report is the Managed Money category trading on the COMEX needs to be trading bullishly in the aggregate, betting as a group for the silver price going higher for the silver spot price actually to gain upward momentum.
Reality partly is and can often feel for silver bullion bulls, that the price of silver is like the price of the 1987 movie Wall Street's Gordon Gecko described 'paper clip.' "We pick that rabbit out of the hat when everybody sits out there wondering how the hell we did it."
One look at OTC silver derivative trading turnover volumes (300 million oz silver trade turnover pe