The end of last week and the beginning of this one saw XAG move higher.

the market chatter was that an operation to drive it higher was in play à la the GME move.

So far the $30 level hit Sunday evening (US time) / Monday morning (Asia time) has been firmly rejected.

XAG/USD has managed to come of its Tuesday lows and pop $27, albeit briefly so far.

The arguments against a surge into the $1,000 region (yes, that was the chatter ... a bit over-the-top really) are

  • an 18% rise in maintenance margin announced by the Chicago Mercantile Exchange
  • a market approximately 200 times bigger than GME
  • without significant hedge fund short interest
The end of last week and the beginning of this one saw XAG move higher.

I should add for the physical buyers ... still solid demand in that portion of the market.