SHORT COVERING, NOT SPECULATIVE BUYING, LED TO SILVER’S PARABOLIC RISE

With many speculative longs liquidated out of their positions, look for silver to build a base here, and consolidate within a trading range, before building up energy for another rally by late summer.  Seasonally, with Diwali in September, Ramadan, and the Holiday seasons peaking in Q4, look for mid-summer doldrums in the precious metals complex. 

http://pragcap.com/short-covering-not-speculative-buying-led-to-silvers-parabolic-rise

See disclaimers in the side bar.

Disclosure:  long precious metals equities.