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Ted Butler: A special note about silver
By Ted Butler
Monday, January 9, 2023
For the first holiday-shortened trading week of the new year, gold turned in a very strong performance, ending higher by $40 (2.2%) while a late-day rally yesterday only resulted in silver narrowing its losses for the week to 18 cents (-0.7%).
As a result of silver's extreme relative underperformance, the silver/gold price ratio widened out by just over two full points to 78 to 1.
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As far as trying to explain the surge in gold prices and silver's failure to keep up over these past few days, let's start with the obvious -- namely, no one was selling long-term physical silver to convert to gold.
Gold and silver prices are set by manipulative paper positioning on the Comex, so look no further for explanations. As I have warned of late, we must gird ourselves for deliberate manipulative smackdowns, such as seen this week in silver (complete with middle-of-the-night non-economic price stabs to the downside). ...
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