Silver Enters Bear Market As Hedgies Flee
By GCRU Gold News on Friday, November 25 2016, 03:02 - Permalink
After tagging $19 the night of Trump's victory, Silver prices have tumbled 15% (the biggest drop since Summer 2013's taper tantrum). However, as large speculators dumped their longs en masse, this week also marked another milestone as Silver drops 24% from its post-Brexit peak (above $21) and entered a bear market once again.
As the dollar surges, Bloomberg reports that gold and silver holdings in exchange-traded funds are set for the biggest monthly drop in more than three years.