Understand this story
In his latest silver tracking report, Goldman Sachs commodities strategist Robert Quinn characterized the current silver situation as "Still Stuck." The report noted that over the past three weeks, managed funds have cumulatively net sold $2.2 billion in silver futures, with net long positions falling to about $1.7 billion, the lowest level on the two-year chart; during a 0.5% decline in the dollar, silver still fell 2.6%, while baskets of data center and solar stocks fell in tandem. Quinn believes the extreme crowded short positioning offers an opportunity for a tactical rebound, but the rebound will be difficult to sustain as the Iran situation pushes up oil prices and the dollar. At present, there are no subsequent factual developments regarding this judgment.
AI-generated from public reports
Latest development · Report
Goldman Sachs Breaks Down Silver's Predicament: Dollar Relief and AI, Solar Demand Extinguish SimultaneouslyDevelopments
1 confirmed developments
Reports and discussion timeline
Browse reports and discussion by time. Their evidence levels remain distinct.
Oct 22
Wall Street CN
Goldman Sachs Breaks Down Silver's Predicament: Dollar Relief and AI, Solar Demand Extinguish Simultaneously
In his latest silver tracking report, Goldman Sachs commodities strategist Robert Quinn characterized the current situation as "Still Stuck." Over the past three weeks, managed funds have net sold a cumulative $2.2 billion in silver futures, with net long positions falling to about $1.7 billion, the lowest level on the two-year chart. During the 0.5% decline in the dollar, silver still fell 2.6%, as baskets of data center and solar stocks declined in tandem, breaking the industrial demand logic; the 3-month 25-delta put/call skew briefly touched the 98th percentile of the one-year range. Quinn believes the extreme short crowding offers a tactical rebound opportunity, but the Iran situation pushing up oil prices and the dollar makes a sustained rebound difficult.