My Commodity News
Gamma Squeeze Reversal
The 'gamma squeeze' that drove silver up has now reversed. Dealers who had sold call options were forced to sell futures aggressively as prices fell, creating a self-reinforcing downward spiral.
Technical Breakdown
Silver smashed through key support levels at $100 and $90 in a matter of hours. While the long-term industrial deficit remains, the short-term sentiment has been shattered by the volatility.