Chinese Day Traders Are Behind Silver Frenzy Moving Prices
- Retail trade behind rising volume as open interest falls: Saxo
- Moves reminiscent of China commodity frenzy earlier this year
Are Chinese Retail Investors Behind Silver's Surge?
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Chinese day traders are moving the silver market.
The metal posted its biggest two-day rally in five years on Monday, with a two-year high being set in Asian trading hours. In recent days, open interest in Chinese silver futures has declined while trading volume surged. That’s a clear sign that day traders are behind much of the rally, according to Saxo Bank A/S.