$ProShares Ultra Silver(AGQ)$
When paper says one thing.
And the real world says another.
🇺🇸 COMEX: ~$83/oz
Now look at physical.
🇨🇳 China: ~$95/oz (+$12)
🇯🇵 Japan: ~$90+/oz (+$7)
🇦🇪 UAE: ~$90+/oz (+$7)
🇮🇳 India: ~$88+/oz (+$5)
Same day.
Same metal.
A $5 to $12 gap.
And in a normal market, this can't last, arbitrage closes it fast, in milliseconds.
But it's not closing.
That one fact explains a lot.
It means the market isn't clearing clean.
Paper is printing a price that physical can't match.
THIS IS NOT GOOD AT ALL.
Now connect the dots.
CME just hiked maintenance margins.
Silver maintenance goes 11% → 15%.
Let me explain this in simple words.
A margin hike is a forced decision day.
If you're on leverage, you only have 2 choices:
1) Add cash fast
2) Cut size fast
Most people cut size.
And when a lot of people cut size at the same time, it does 3 things:
1) Liquidity gets thin
Books get empty.
Small sells move price more than they should.
2) Forced selling shows up
Stops get clipped.
Longs get liquidated.
Then selling feeds on itself.
3) The gap gets worse
Physical stays bid.
Paper gets pushed down.
Two prices get even wider.
So the exchange says "risk control".
But the effect is simple.
Less leverage.
More pressure.
More chaos.
And thin liquidity opens a new window for banks to push price around again.
Just like we've seen before.
Watch the flows.
@Tiger_comments @Daily_Discussion @TigerStars @TigerObserver @TigerPM
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