Analyst: New York Commodity Exchange Silver Market to See 13% of Total Open Interest Sold Off, Potentially Leading to Lower Prices
Odaily According to reports, gold and silver prices rose at the start of trading in 2026. Tim Waterer, Chief Market Analyst at KCM Trade, stated that precious metals have continued their upward momentum into 2026. Year-end liquidation pressure has eased, fundamentals are back in focus, and Bitcoin's rise kicked off 2026.
Daniel Ghali, Senior Commodity Strategist at TD Securities, said in a report that it is expected that up to 13% of the total open interest in the New York Commodity Exchange (Comex) silver market will be sold off within the next two weeks. This could lead to a significant price revaluation and decline, with low post-holiday liquidity potentially amplifying price volatility.
Goldman Sachs stated last month that its baseline forecast predicts gold prices will reach $4,900 by December 2026. Major banks are bullish on gold prices this year, citing reasons including expectations of further interest rate cuts by the Federal Reserve and the US President's reshaping of the Fed's leadership. (Jin10)
