00:00Silver, meanwhile, recovering some losses after its biggest one-day drop in more than five years.
00:04Supply shortages keeping the metal on track for a monthly gain of close to a third.
00:10Bloomberg's Christine Aquino joins us now for more.
00:12Christine, before we get into the bigger trends,
00:15just can you talk a little bit about how much leverage,
00:17how much sort of fast money is behind some of the pretty violent moves
00:21that we've seen over the past couple of weeks?
00:23Well, Lisa, the short answer is a lot.
00:26There's been a lot of speculation in this market,
00:28especially as investors started to observe that silver very much extending the gains
00:34that initially were rooted in gold, right?
00:37And, you know, initially this was kind of a higher beta play, right?
00:42Silver usually seen as a higher beta version of gold.
00:45And so when gold started rallying, investors started wondering,
00:48where else can I put this momentum behind?
00:50And silver became the focal point.
00:52But, of course, very interesting because silver, very much a precious metal,
00:56but it also has very important industrial functions, right?
00:59And so we've really seen that speculation ramp up.
01:02We've seen, you know, exchanges now having to raise their margins.
01:06China's silver play fund, pure silver play fund, turning away new investors.
01:11These are just some examples of just measures that authorities and bodies have taken
01:18to really curb the speculation that has ramped up so much in the last month or so
01:24as silver really turned into very much from a precious metal play, a haven play,
01:29to a speculative play.
01:31And that's what we're seeing now.
01:32Thanks, everybody.
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