China Follows II

Last Tuesday, the price of Comex silver fell $1.17 and the Shanghai price followed it down on Wednesday. Last Friday, the price of Comex silver fell by $1.93 and, in the first trading since last Thursday, China followed it down today. For now at least, I think we've settled the whole "price taker vs price maker" argument.

This doesn't mean that a physical market in China or elsewhere won't one day supplant NY/London. It also doesn't mean that NY/London can't eventually collapse due to delivery demands. But this most recent price action/reaction certainly suggests that China is,...

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Key Economic Events Week of 6/10

6/12 8:30 ET CPI and Core CPI
6/12 2:00 ET FOMC Fedlines
6/12 2:30 ET Jerry's presser
6/13 8:30 ET PPI and Core PPI
6/14 8:00 ET Some Random Goon
6/14 10:00 ET Prelim UMich