Last week the price for spot silver traded above $20/oz

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scoutaz_2003

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Last week the price for spot silver traded above $20/oz

posted on Sep 16, 2010 06:14PM

Last week the price for spot silver traded above $20/oz and the bullion banks increased their net short position to an almighty 61,798 contracts, or 309.0 million ounces of silver. The '4 or less' traders are short 256.0 million ounces.

That means that for every ten cent increase in the silver price they incur a “paper loss” of $25,600,000! (Silver is now trading around $20.50).

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