A Meltdown for Metals Means Trouble for Miners
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Bears, big bets and heavy metal.
The volume of outstanding silver futures contracts traded on the Comex has risen to a six-year high, as prices drop below the key support level of $19 an ounce. The front-month futures contract has fallen another 1 percent today, and now trades at its lowest level in four years. Bears are pushing their shorts. Heavy metal indeed.