by Craig Hemke
Sprott Money
Late last week, a movement to “squeeze the shorts” in silver began, and the impact on physical price was remarkable. However, since the futures market price is still controlled by the market-making Bullion Banks, the concern has been that if the Reddit crowd grew quickly distracted and moved on, the COMEX price was going to fall right back. Now here we are, and it’s gut check time.
As you likely know, by late Monday the usual suspects were lining up to do their part in corralling the movement to squeeze silver. The irony that this was all occurring on Groundhog Day should not be lost on anyone familiar with our sector.