Curious as to why silver sold off $2 from $49.49 to ~ $47.50 this afternoon? Desperate to avoid silver's convergence on $50, the CME raised silver margins another 10%! This is on top of the 9% margin hike on Monday. As silver has already retraced nearly 1/2 of its losses back to $48.50, the half-life of margin hike interventions is rapidly approaching zero. London's market is closed Friday so Blythe will receive no help from her London friends overnight in preventing silver's 3rd assault on $50.
cme 4.28
