Introduction
Welcome to Orchid's Silver weekly report, in which we wish to deliver my regular thoughts on the silver market through the iShares® Silver Trust (SLV).
We remain bullish on SLV, expecting higher highs in the coming months.
While spec/ETF positioning has improved in recent weeks following the dovish Fed shift, we think that there is plenty of room for further improvement. Silver's positioning remains relatively much more negative than gold's, which suggests that SLV could outperform [[GLD]] in the near term.
We expect the Fed to satisfy market participants' desire for