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Short-Squeeze Stampede Sends Silver Soaring; US Stocks Surge Off Overnight Slump
Well, that escalated quickly... video In the early trading, Silver prices were up the most since Lehman, with Spot above $30... chart ...but as the way wore on the squeeze faded, but still SLV (the silver ETF) was up almost 14% in the last 3 days - the biggest jump since early August... chart Spot Silver reached its highest since Feb 2013... chart Silver futures also soared, but were slammed when the US cash equity market opened, bouncing back after Europe closed... chart But as the paper prices were suppressed intraday, physical demand remained high and the physical premium hit a record high... chart ... (full story)