Silver: Eastern demand supports resilient upside – TD Securities
The post Silver: Eastern demand supports resilient upside – TD Securities appeared on BitcoinEthereumNews.com. TD Securities strategists note Silver is maintaining its upside, trading resiliently despite higher energy prices. While recent CTA (Commodity Trading Advisors) buying has slowed, they see renewed interest from Chinese traders on SHFE (Shanghai Futures Exchange) and strong Chinese premiums. The open import arbitrage suggests Eastern demand is a key driver of Silver’s strength beyond systematic CTA flows. Chinese demand underpins silver strength “Silver maintaining upside. Similar to base metal markets, silver has also been resilient in the face of renewed upside in energy pricing. While recent CTA buying has tapered off, there is evidence of a renewed bid in the Middle Kingdom.” “Top traders on the SHFE have been steady buyers of silver over the past month.” “Chinese premiums have remained strong and the import arb has been open at various times in the last couple of weeks, su