Peter Brandt Found a Problem With the Silver Shortage Story

Veteran trader Peter Brandt says cash silver now trades at a small discount to Comex silver futures. In his view, that undercuts the popular “paper silver” theory, which claims futures contracts hold down the price of scarce physical metal. The call lands on a sore spot for silver bulls. Many bought on the bet that a physical shortage would lift spot prices above silver futures, a setup known as backwardation. Instead, the metal has lost more than half its value since its January record. What Brandt’s Silver Futures Chart Shows Brandt shared a weekly TradingView chart that tracks the gap between spot silver and the front-month contract on Comex, the CME Group’s metals exchange in New York. At the latest reading, spot sat a few cents below futures.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.