Silver prices surge past $33.6, exposing banks to massive losses from reckless shorts.
Silver Prices Surge: Banks Face Billion-Dollar Losses TLDR: Silver prices surged over 6%, surpassing $33.6 per ounce. Five major U.S. banks face billions in potential losses from heavy short positions. Open interest in silver futures reached 141,580 contracts, nearly one year’s production. Short positions now estimated underwater by $1.3 billion. Critics argue short selling distorts …