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Peter Spina: Big 8 silver short positions rise as price falls

Peter Spina: Big 8 silver short positions rise as price falls
Big 8 silver shorts climb as price falls

The group known as the Big 8 increased their short position in silver to 46,117 COMEX contracts, up from 43,407 contracts on April 7 when silver was at $72 an ounce, as of Friday's COT Report with silver priced at $50 as of the Tuesday cut-off.

Peter Spina, CEO of GoldSeek.com, reported this data by citing Ed Steer.

Peter Spina previously stated that silver was a strong buy at current price levels, citing rising mining costs and noting all-in sustaining costs were increasing from $25 to $35 an ounce in his coverage at GoldSeek.com. In the gold market, UBS maintained a $5,000 price forecast for 2027 while a Reuters survey gave a median target of $4,650, as reported in a separate article. Both gold and silver forecasts remain of interest as the precious metals markets adjust to recent positioning shifts.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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