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iPathA Series B Bloomberg Precious Metals Subindex Total Return ETN
The price of silver dropped a dollar, or over 4% on Wednesday.
Some voices in the precious metals press want you to think there is only one conceivable cause - that the alleged cartel, the bullion banks and/or central banks, sold silver futures in mass quantity. Also, allegedly, inflation-fearing masses are buying physical gold.
How much metal selling does it take to push the price of futures down by a dollar? And how much selling does it take to push down the price of physical metal by $0.9975?