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I Think I Found What Helped Send Silver EXPLODING Through $70 Overnight⊠China!
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At roughly 2:45 AM ET, silver
suddenly went PARABOLIC.
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So I started digging into what happened at that exact time⊠And then I pulled up the Shanghai Futures Exchange (SHFE) silver
chart.
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This is where it gets REALLY interesting at 2:45 PM in Shanghai:
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SHFE silver suddenly surged!
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Trading volume EXPLODED!
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In the FINAL 15 MINUTES of Shanghai's session!
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SHFE closed .22 cents from $80!
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Meanwhile⊠COMEX silver was finally smashing through the massive psychological $70/OZT level to a high of $70.95.
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Then look at the sequence:
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2:45 PM Shanghai: SHFE silver erupts on huge volume.
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COMEX/international silver follows higher.
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3:00 PM Shanghai: SHFE day session closes.
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COMEX continues climbing for roughly another 40 minutes.
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Then the explosive momentum fades, silver & Gold begins crab walking/consolidating.
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WHAT ABOUT LONDON?
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At the time of the spike it was roughly 7:45 AM in London, meaning London traders were coming into their business day. Increasing European/London participation may have added liquidity as Shanghai made its move.
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SO WHAT HAPPENED IN CHINA?
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I searched for a major Chinese catalyst around the exact time:
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No major economic-data release found.
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No surprise PBOC announcement found.
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No major new tariff announcement found.
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No obvious China-specific war/geopolitical headline found.
Any news oThat makes the SHFE volume explosion itself even more interesting...
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MY WORKING HYPOTHESIS:
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This morning's $70 breakout appears to have potentially been Shanghai-led.
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Heavy Chinese silver trading into the SHFE close may have helped push the international market toward/through $70.
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Then breaking that massive psychological level potentially triggered:
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Breakout buying
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Short stops
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Momentum algorithms
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Cross-market/arbitrage activity
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And London/European participation was coming online at almost exactly the same time.
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IMPORTANT: Timing does NOT prove causation.
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But the sequence is VERY interesting:
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SHFE volume explodes â Shanghai silver surges â COMEX breaks $70 â Shanghai closes â COMEX continues briefly â silver consolidates.
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Right now, I have NOT found a breaking headline explaining it. Something happened inside the silver & gold market itself.
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Crustacean Nation: Did Shanghai just help lead the breakout that finally sent silver through $70?
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Sound off below!
*Not financial advice. Stay stacked!