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What is silver used for?

Silver is one of the most versatile of metals, combining the highest conductivity of heat and electricity of any element with exceptional aesthetic properties – its reflectivity and lustre make it ideal for jewellery and tableware – and outstanding antimicrobial properties. In addition, silver is an abundant element, relatively easy to extract from naturally-occurring ores; it is extremely malleable and ductile, meaning that it can be manipulated into different shapes, yet it is physically strong and has a high melting point. We can divide its common current uses into three parts: Industrial Industrial use takes up more than half of all global silver production every year, compared with just 10-15% of gold. Common industrial uses include soldering and brazing alloys, batteries, photovoltaic energy, RFID chips to track deliveries, dentistry, nuclear reactors, photography, glass coatings and LED chips. Silver is also used in the manufacture of semiconductors, smartphone touchscreens, plasma television screens, for water purification and materials preservation. In chemical processes, silver is crucial for catalysing ethylene oxide to make polyester, solvents, detergents and everyday products like antifreeze. Medical Silver biocides appear throughout the medical environment, acting against bacteria by stopping it from bonding with other chemicals while remaining harmless to animal cells. In combination with water, silver ions have a powerful antibacterial effect, so they’re found in hospital water systems, while a silver coating keeps surgeons’ operating tools safe. Silver’s antibacterial properties mean that nanoparticles are often woven into clothes, to prevent bacteria from feeding on sweat. Store of value Silver is a convenient and widely accepted store of value, traded on international markets as investment-grade silver bullion. While silver coins are no longer common currency, silver objects including tableware, jewellery, artworks and vintage coins retain strong value. Since it is a highly reflective material, silver is commonly used in mirrors and specialised glass that can react to light. Investment analysts study the potential demand for silver to determine its future value. Historical use of silver Evidence from Turkey and Greece shows that silver was first mined around 3000 BC after the Chaldean people devised a means of extracting the metal. By 600 BC the city of Athens thrived on silver from local mines in Laurium. While German mines dominated medieval Europe, Peruvian, Bolivian and Mexican mines thrived in South America. Initially used for jewellery, tableware and coinage, Ancient Phoenicians (in modern-day Lebanon and Israel) understood that silver-coated bottles kept their water fresh; in the 19th century, doctors used silver nitrate in antibacterial dressings and to cure ulcers. With the invention of photography in the mid-19th century, a huge new market for silver emerged. Its sensitivity to light made silver an ideal material for the art form, particularly silver bromide and silver nitrate. By the end of the 20th century, photography represented the most common destination for global silver production, employing a quarter of it. Yet as digital photography displaced analogue, this slipped to just 9 per cent by 2013. Instead, demand for silver for photovoltaic cells rose sharply in the early 21st century, with the sector using 19 million ounces each year by 2008. Although innovation has reduced the percentage of silver in photovoltaic cells, the rise of high-tech batteries, used in electric vehicles and consumer electronics, has kept demand high. As an investment, silver is a cyclical material: when equity markets perform poorly and economic conditions unstable, investors seek sanctuary in raw materials and precious metals, which act as a hedge against inflation. Materials overview Silver is found ‘uncombined’, in ores including argentite and chlorargyrite (also known as horn silver). More often, it occurs in combination with lead-zinc, copper, gold and copper-nickel ores, from which it is extracted as a by-product. Each year around 20,000 tonnes of silver is produced. Silver is the most commonly occurring of the noble metals (meaning that it resists corrosion and oxidisation) and makes up 0.07 parts per million of the earth’s crust, compared with 0.01 for gold. Silver’s material properties include its unsurpassed conductivity of heat and electricity, its malleability, its sensitivity to light, its antibacterial qualities and its high reflectivity. Future of silver Exponentially increasing demand for photovoltaic cells, electric vehicles and supercapacitors, using nano silver conductive inks, means that demand for silver is likely to rise in the coming years. Batteries using silver oxide or silver zinc alloys perform well at high temperatures, making them ideal for aerospace and defence applications. Renewed interest in nuclear energy, in response to security concerns over oil and gas, may also feed into higher demand, since silver is a key component in control rods in nuclear reactors. Investment analysts argue that silver is currently under-priced, and with global economies still under pressure following the Covid-19 pandemic and geopolitical friction, its value is likely to rise. Innovative fabrics and clothing are also likely to incorporate silver, thanks to its antibacterial properties and malleability. Silver’s price typically shadows that of gold, after a short delay. For example, gold rose sharply in early 2022 – up 18 per cent in the first three months – and silver is expected to follow. More on the future of silver in our Gold and Silver Outlook for 2022 Learn More This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.

Doug Turner
Doug Turner

24/03/2022

The Investors Guide to Gold and Silver in 2022

Gold has traditionally played a key role in the financial sector, becoming the most common safe haven in market storms. Its crucial role in a financial portfolio remains unchallenged and it seems very likely to continue for a long time. Gold represents stability, with central banks increasing their holding of bullion as reserves. Despite this, investors are always fighting against the markets while trying to find the best timing for buying bullion. Another interesting point of analysis is the distinction between buying physical gold or paper gold and what are the advantages of both. This article starts explaining the current scenario for bullion, before analyzing the market drivers which are forecasted to move the gold price in 2022. The analysis continues presenting the advantages offered by Kinesis Money to gold investors. What is the current state of the market? In the last few months, investors faced a challenging scenario. The Federal Reserve announced the beginning of tapering, while inflation continued to soar in the U.S. and in several other countries, proving to be much less transitory than forecasted by Central Banks. Moreover, the battle against Covid-19 is not yet over, with spikes of volatility due to the news related to the pandemic. Despite this, stocks continued their long rally that started in April 2020, with the market capitalization of almost all the major indices now surpassing pre-Covid-19 records. For example, the S&P 500 has reached the 4.700 points mark, around 900 more than the top of February 2020, while the Dax topped above 16,000, before slowing down after the growing fears related to the new Covid-9 variants. On the bonds market, the yield of the U.S. 10-year treasuries remains in the region of a modest 1.50 – 1.70%, well below the current level of inflation. But the scenario could change if inflation pressure continues to rise, or in the case that investors sense a risk that the price growth seriously goes out of control. Once again, gold seems ready to play a crucial role in the markets. Investing in Gold in 2022 There are not many certainties in the financial environment. However, it is certain that gold will continue to be a crucial asset for an investor’s portfolio, despite potential changes in the market. Why invest in Gold in 2022? The reasons for holding gold might be various and at times - complementary. Firstly, consider investing in gold in anticipation of its price rising. By holding your gold long-term, you can expect to achieve a capital gain as the price of bullion increases over time. 1. Gold is an appreciating store of value Charts speak for themselves, especially in a longer timeframe: Gold Chart from 1971-2021 - Gold climbs from $35 to $1,800 Over the past 50 years, gold achieved an average yearly performance of +10.6%, while in the last 20 years bullion price increased by 600%. The former historical top of 2011 at $1,920 was surpassed in the summer of 2020, when gold temporarily jumped above $2,000, before slowing down to $1,800/1,900. 2. Gold is a Safe Haven Another reason to incorporate gold into a portfolio is to protect yourself in the event of stock market turmoil. Historically, bullion has proved to be an excellent safe haven in the unfortunate scenario of share market collapse. An example of that was observed throughout the global stock market crash in February 2020, when gold managed to retain a positive performance (excluding the first chaotic weeks of March, where many traders were forced to close their position in gain on gold, in order to avoid margin calls on stocks and bonds). 3. Don’t put all Your Eggs in One Basket Holding gold is an excellent way of diversifying a portfolio, in line with the wise advice of Don Quixote. Gold is a unique commodity, with a low correlation to the majority of raw materials - and can also be used to mitigate potential risks. 4. Gold is a Hedge Against Inflation and Market Adversities Speaking of risk, bullion is well-suited to play an important role in the event of currency market turmoil. Central banks printed trillions of dollars, euros, pounds and yen in the last few years. As we try to crawl back to so-called normality, the Fed’s hawkish monetary policies might not necessarily make it any easier. If investors lose their trust in central banks, gold could definitely jump to new highs. Therefore, its safe-haven role is also remarkable when analyzing the forex market. For investors, based in countries where the local currency is extremely volatile - as in Russia, India, or Turkey for example - gold could also be used as a hedge against further depreciation of the native currency. Moreover, bullion could also be held as a hedge against inflation. However, this subject may turn out to be a little tricky, as the relationship between gold and inflation is not always linear. What are the main market drivers for gold in 2022? Any gold price forecasts for 2022 should take the inflation rate and the Fed’s monetary policy into consideration. Of course, the development of the pandemic should be carefully monitored. Now, let us analyze the main elements for gold investing in 2022, in more detail: 1. The Federal Reserve’s attempts at curbing Inflation Despite the Federal Reserve’s tapering announcement, gold managed to perform positively in October and November 2021. This happened mostly due to growing fears around uncontrolled inflation, which remains a central topic as we enter the new year. Indeed, in the event of investors losing their perception of central banks having enough control over price growth, a gold buying spree may ensue. Therefore, inflation and the central bank’s decisions over interest rates are two crucial market drivers for the gold sector. 2. Gold-backed ETFs In recent times, the demand for gold coming from physically-backed ETFs, has shown a strong correlation with the gold price. The growth in this sector could further boost the price of gold, in case the inflows continue. Price of Gold & ETF demand - From the World Gold Council (WGC) 3. Growing Demand for the Physical Gold In the last decade, we have seen strong demand for physical gold coming from central banks. Many countries, including Russia, China or Poland, vastly increased their gold reserves. It will be interesting to see whether this trend will continue in the next few years. Jewellery historically represents a strong percentage of physical gold demand. In this case, analysts are trying to forecast the solidity of jewellery sector demand for 2022-2025, and its potential impact on the bullion price. What are the key levels for the gold price in 2022? If we take a look at the 2019-2021 gold price chart, we can identify many interesting support and resistance points that can later aid us in monitoring the year 2022. Gold Price - from 2019-2021 Let us start with analyzing the key resistances - the areas which can curb gold appreciation, and where we could expect sellers to be more active. In the current scenario, with bullion traded at around $1,800, the first major level to monitor is placed at $1,870, on the top reached in November 2021. A surpass of this threshold could generate a further rally to the historical 2011 top in the region of $1,920, while the following key levels to monitor would be the psychological $2,000 mark which led to the historical high in July 2020, at $2,074. Similarly, in case of a new decline, the support zones - where we could expect significant buying volumes - are placed at $1,750 and also in the $1,670-$1,680 region. Much further, we can find $1,620 and the $1,520 - $1,500 area. How to Invest in Gold in 2022? As many investors are looking for the perfect way to invest in gold, it’s important to make an informed choice between options available on the market. What are the differences between physical gold and paper gold and are there any emerging alternatives to these two choices? Paper and Physical Gold - What are the Key Differences? Physical gold has the advantage of tangibility, however paper gold is usually much cheaper in terms of spreads and commissions. Moreover, it is also easier and quicker to buy and sell. Thanks to modern trading platforms, it is possible to purchase and sell paper gold in just a few seconds, profiting from both short and long-term bullion movements. Fully Allocated, Digitalised Physical Gold Conclusively from this analysis, precious metals backed digital currencies - such as Kinesis KAU & KAG - could represent the perfect solution for modern investors. Kinesis native currencies merge both the enduring value and security of traditional physical gold with the technology-driven liquidity and ease of paper gold. Kinesis offers two tokens: Kinesis gold (KAU) and silver (KAG), which can be easily traded online. At the same time, the precious metals that back them are stored physically in Kinesis vaults and can be redeemed in physical bullion anytime, anywhere around the world. Moreover, Kinesis is paying KAU and KAG holders a recurring monthly, passive yield, which is paid directly into the holder's account in gold and silver. The Kinesis system also offers a sense of immediacy. Holders who store their gold with Kinesis, have the ability to spend, send and transfer their KAU and KAG as digitalised, physical currencies, just like regular cash. To summarise, with Kinesis Money assets, investors can access the benefit of receiving a monthly yield, traditionally associated with bonds, coupled with the potential growth of the physical gold price. Moreover, they can trade Kinesis gold just like paper gold, while also having the option of converting the Kinesis token into physical gold, whenever they wish to do so. https://www.youtube.com/watch?v=Q2ldZFJjii4 Investing in Silver in 2022 It’s not just gold that glitters. In the precious metals environment, silver could also represent an interesting opportunity to diversify an investor’s portfolio. Silver metal is generally more volatile than gold, with wider movements in both directions. In other words, during the positive growth phases, silver can gain more value than gold (in percentage), while falls can also be broader. Many precious metal analysts, including the renowned Robert Kiyosaki, have a positive view of silver. Although its price seems to have been dramatically compressed in the last few years, with the rapid popularisation of physical silver - which is also reflected by the accelerating expansion of silver-focused online communities, such as Reddit-based WallStreetSilver - this could be the right time for the metal to start restoring its real market value. Silver price - from 2019 - 2021 The global physical demand for this precious metal is expected to grow in the future. In the last decade, we have already seen a tremendous increase in the industrial silver demand from the photovoltaic sector. In the upcoming years, analysts have forecasted a huge increase in the request for silver as a component in electric vehicles. Of course, this could have a strong impact on the silver price, increasing the chances that silver can outperform gold in the long run. Gold Vs. Silver Demand It is interesting to analyse the different uses of these two precious metals. Gold is mostly used in jewellery and has a significant component of the demand coming from central banks and the investment sector. Silver, on the other hand, is more exposed to the industrial demand and this could also represent an interesting point allowing investors to diversify their investment in silver. Both precious metals are equipped with a number of benefits that will make an excellent addition to any investor’s portfolio. However, the decision between gold or silver, as well as the form in which you find them most fitting your personal needs - is entirely up to you. * This article will be updated in line with market trends and advice throughout the year.

Carlo Alberto De Casa
Carlo Alberto De Casa

21/12/2021

Is Silver A Good Investment?

As a precious and industrial metal, silver has long been a safe alternative to traditional stocks and bonds trading. The last two years have been a tumultuous time for investors, so it’s no surprise that some may be looking into safer, “old-fashioned” investments. While silver can be volatile, precious metals are seen as safe-haven investments in uncertain times and can be a hedge against uncertainty, inflation, and stocks. Why invest in silver? Silver is a small market, and not as well-known as gold, but it’s still physical, reliable money with growing demand. It’s classified as a commodity: a publicly-traded, tangible asset. Silver is real money Along with gold, silver is the ultimate form of money. Silver has no counterparty risk, has never been defaulted on, and has been used as a form of currency for over 4,000 years. As a physical asset, silver counteracts the turmoil of today’s digital trading and cyber currencies; it also cannot be hacked or vulnerable to cybercrime. When you hold silver, you hold a real, hard asset that is universally recognised as valuable. Silver is reliable As a physical coin or bullion, silver holds intrinsic, long-term value, so it can stand as an inflation hedge. Silver is impacted by different factors than the stock market, so it can help diversify your portfolio and counterbalance riskier investments. Also, silver is an industrial metal used in the manufacturing of lots of things, making its price performance and outlook relatively steady. Silver demand is growing Silver’s metallic properties put it at the forefront of both common manufacturing and innovative technological advances, such as electronics, medical equipment, and clean energy alternatives. As these fields expand, so does the demand for silver. In the last few years, global demand for silver has been surging. Combined with silver’s limited supply, this increasing demand suggests a positive impact on those who have silver in their portfolios. Silver vs. Gold investing Of course, silver seems less valuable an investment than gold at first glance. They’re both precious metals and tangible assets, but they have significant differences that can make silver a better investment. Silver is cheaper Silver literally costs less to buy than gold. The spot price of silver in the market has never exceeded that of gold -- by a lot. It’s not just cheap to buy, but can be more manageable to sell. While gold is sold by the ounce, silver can be broken down into smaller amounts, so you only have to sell what you need. Silver is more volatile The market for silver is so small that any cash movement can have a large impact on price. Its value is also influenced more by manufacturing cycles. This means that the silver market is more volatile, which means it falls more than gold in bear markets, but rises much higher and faster in bull markets. At the peak of the 2011 bull market, the gold/silver ratio sank to almost 30, demonstrating how silver outperforms gold. Risks of investing in silver As with all investments, there are some risks to consider when investing in silver. The main risk is something that can also be a benefit to investing in silver: its volatility. Especially in short time periods, silver’s spot price can shift up and down dramatically, so it can be easy to overpay or not get the full value of a sale. Sensitivity to shifts Since the value of silver is so tightly tied to industrial growth and the manufacturing industry, it can be hurt by an economic slowdown. A replacement metal in manufacturing, or a dramatic change in the industry, could also lead to a decrease in silver’s price. Limited potential Since silver is a physical commodity, it traditionally doesn’t offer interest or dividends like bonds and stocks, and cannot be built up like cyber currencies. Silver has limited income and can only appreciate so much, so your best chance to benefit is to sell during a price rise. Unpredictability Silver’s value derives from multiple categories, so its price can be torn between industrial and investment valuations. If investors bid the price one way, the industrial world will react accordingly, changing the global supply of silver and thus its price. How to invest in silver There are two main ways to buy and sell silver: directly buying it yourself, or indirectly buying silver-related securities. Physical coins or bullions You can buy physical silver bullion coins or bars; this way is relatively straightforward as you can buy from pawn shops or online vendors. It may cause some storage issues, however, but you’ll be in control of buying and selling the silver directly. Silver-related financial instruments Using these, you can buy and sell silver indirectly. For many, this is a more pragmatic approach. Silver stocks: You can buy shares of companies that mine or process silver (“miners”) or resell it (“streaming companies”). It’s important to note that there are few “pure players” here, since most companies mine silver together with other metals.Mutual funds or ETFs: You can invest in funds that hold silver in their portfolios, either in its physical form or in silver companies.Exchange-traded commodities (ETCs): You can invest in publicly traded securities that are much like the funds. ETCs also invest in physical silver, but the difference is that they are debt instruments, like bonds. The underlying commodity, silver, serves as collateral.Kinesis Silver: You can instantly purchase physical silver with Kinesis. Kinesis silver (KAG) is a yield-bearing digital representation of investment-grade silver bars that sit in Kinesis vaults, in your name. Silver is underestimated as an “old-fashioned” investment, despite its historic value as money and essential industrial material. While it can be volatile, it’s viewed as a safe, tangible alternative investment or as a way to hedge against riskier investments. Commodities can be invested in directly, by buying the physical substance and holding or selling it, or indirectly by investing in funds that include it. If you have some investment experience and are willing to take some risk, investing in silver may be a good choice for you. LEARN HOW YOU CAN INVEST IN SILVER TODAY

Doug Turner
Doug Turner

17/12/2021

COMEX Faces Staggering Delivery Requests on March Contracts

Andrew Maguire and Craig Hemke break down the huge delivery requests on March COMEX contracts. Watch this week's Live from the Vault for: 5:05​ How is gold and silver price determined?8:35​ The history of gold and silver price manipulation12:00​ How to stop corruption in the gold and silver market18:04​ Wall Street Silver VS paper market corruption19:05​ Unallocated gold and silver scam explained26:41​ Physical price VS paper price28:13​ Current physical demand pressure will push prices parabolic29:59​ Wall Street Silver movement piling pressure on the COMEX41:57​ Delivery requests soaring on the COMEX52:30​ COMEX on the run54:16​ Unprecedented physical silver demand In this week’s Talking Gold blog, Andrew Maguire and TFMetalsReport founder, Craig Hemke, crunch the numbers on upcoming requests for COMEX Gold and Silver Futures delivery. March Gold Contracts Historically, the March contract presents very little volume or open interest. However, as the typically sleepy month draws to a close, we are observing huge delivery requests on the Gold Futures (GC) market. With only a few trading sessions remaining before March contracts expire, there are more than 30 tonnes of gold standing for delivery. March Silver Contracts In terms of March silver delivery contracts, there are 11,660 open contracts representing over 1813 tonnes of physical silver. To put that into perspective, the current figure is already 361 tonnes higer than the December contract, the biggest delivery month of the year to date. Watch Andrew Maguire share his forecast on how high gold and silver will go post-Basel III in last week’s Live from the Vault. Previous March Delivery Requests Craig takes a look back at previous March contracts underlines the significant uptake in delivery obligations targeted at the COMEX. Around the time the paper market broke, the COMEX delivered close to 2,900 March contracts. At the time, this level of delivery demand was extraordinary, with all March deliveries from 2015 to 2019 combined standing at around 800. As the March 2021 contract closes, we’re approaching an astonishing 10,000 contracts. With the exception of last year, the March 2021 delivery orders are set to be around 25 times the average. A cursory glance at these statistics shows the delivery requests on the COMEX have soared. According to Andrew Maguire and Craig Hemke, all signs indicate that the Gold and Silver Futures markets are coming under increasing stress as a delivery vehicle. Make sure you catch next week's Live from the Vault The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis. This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.

Sam Briggs
Sam Briggs

26/03/2021

Why can’t SLV source enough silver?

Andrew Maguire explains why SLV can’t source enough silver bars to meet demand. Watch this week’s Live from the Vault for: How will Basel III affect the COMEX?: 02:23​​​ BIS scrambles to unwind unallocated positions: 12:18​ Catch 22 arbitrage trade in action last Friday: 16:44​ Banks stand for delivery on COMEX for April contracts: 18:47​ Why can’t SLV source enough physical silver?: 21:33​ The bullish silver set up explained: 24:55​ Astronomical 2023 gold and silver price targets: 28:02 Andrew Maguire believes significantly underpriced silver is behind BlackRock’s admission of potential difficulties in acquiring sufficient silver for iShares Silver Trust (SLV). What’s happening with SLV? The SLV prospectus now reads that BlackRock “may not be able to readily acquire sufficient amounts of silver,” required for the creation-redemption process behind the silver ETF. From a wholesale perspective, the statement translates as “SLV is unable to source enough wholesale 1000 oz silver bars to fill its baskets,” according to Andrew Maguire. As Andrew Maguire sees it, the availability of silver is not the cause of the issue. The precious metals expert attributes the shortage to the lack of “availability of silver at current diluted prices." Watch Andrew Maguire detail the unknown market entity that defended the silver pushback in last week’s Kinesis show ‘Live from the Vault' What's the wholesale price of silver? According to the wholesaler, there are “ample wholesale 1000 oz silver bars to supply to really fulfil every incoming SLV by order,” however, “the price would have to be significantly higher.” The precious metals expert believes that “every single ounce of SLV demanded could be easily fulfilled in allocated form at a true supply demand global wholesale offer price.” Andrew Maguire added, “if the price of silver was allowed to reflect true global supply demand fundamentals thousands of tons of physical silver could flow into the SLV.” However, the precious metals expert estimates that meeting current demand would require a silver price of “at least $30 - $40 per ounce.” Andrew Maguire's parting thoughts: These conditions present one of the most bullish setups in silver since June 2010 Make sure you catch next week's Live from the Vault. SUBSCRIBE The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis. This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.

Sam Briggs
Sam Briggs

26/02/2021

Unknown market force defends Reddit-driven silver spike

Andrew Maguire reports insiders pushback against Reddit silver traders defended by an unknown market entity. Watch this week’s Live from the Vault for: Watch out COMEX Wall Street Silver are coming: 1:33​​ Reddit traders could drain COMEX supplies: 6:20​​ Comex physical in crosshairs for delivery in SI and GC: 8:51 Reddit physical silver stackers will drive prices higher: 10:30 Central bank physical demand tightening physical supply: 13:27 Tonnage of upcoming COMEX delivery orders revealed: 17:08 Russian central bank buying up gold: 28:40 Wholesale market update: 34:30​ Silver market footprints echo June 2010 rally: 48:34​ Red flags on SLV audits: 51:14 As a flood of Reddit-driven trade rallied silver last week, according to Andrew Maguire, market making insiders stepped in to aggressively defend their positions. However, reviewing the charts, the precious metals expert reports that the insiders’ orchestrated pushback was met with significant resistance. Initial pushback On Monday, 1st February, Andrew Magure reports the largely paper-driven Reddit gap was swallowed swiftly up by the officially orchestrated Banking of International Settlements-driven gap close. Andrew Maguire attributes the gap close to a substantial, coordinated 10% and 18% increase in house gold and silver margins, respectively. However, according to the precious metals expert, the insiders’ orchestrated spec clean-out was not entirely successful. Who was backing Thursday’s spike? In Andrew Maguire’s opinion, the silver footprints suggest an unknown entity came in very large on Thursday. The precious metals expert believes an unidentified market player front ran the first Reddit-driven spike, before defending this long position into the orchestrated rinse attempt. Despite market insiders best efforts, the gap left was never closed. Upon inspecting the charts, the long-time wholesaler believes somebody must have defended that position. The precious metals expert believes that this level will not be breached as this anonymous ‘whale’ is defending it with significant resources. Watch Andrew Maguire assess the long term impact of the ‘Silver Short Squeeze’ on the silver markets in last’s week’s Kinesis show ‘Live from the Vault’. Crucial silver levels maintained Andrew Maguire has stated that the crucial silver level that needs to be held was the important 26.225 Fibonacci retracement level. In spite of a significant attempt to knock silver back, the level remains intact. The precious metals expert believes all indications suggest that silver should now be refreshed for a sustainable physically-driven catch-up rally into the thirties, at least. Andrew Maguire's parting thought: Whether it's friend or foe, we don't know, that we can't say, but definitely the footprint say it was defended. Make sure you catch next week's Live from the Vault. SUBSCRIBE The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis. This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.

Sam Briggs
Sam Briggs

12/02/2021