Kitco
07 Jan 2026, 21:15 UTC · 43w ago
Impact · against what's priced in
TD Securities' aggressive short position on silver suggests a bearish outlook for the commodity, though the bank's previous $2.4 million loss on a similar trade introduces execution risk. The immediate catalyst is a predicted 13% sell-off of Comex open interest due to index rebalancing.
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What the story claims
4 claims · scored −1 bearish … +1 bullish
TD Securities has initiated a short position in March silver futures at $78 with a target price of $40.
So whatA major financial institution targeting a nearly 50% price drop signals strong institutional bearishness and can trigger momentum selling.
More negative than 99% of claims this week
TD Securities expects roughly 13% of aggregate open interest in Comex silver markets to be sold over the next two weeks due to annual index rebalancing.
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The bank is taking a second attempt at shorting silver after a previous failure that resulted in a $2.4 million loss, signaling potential volatility in its commodities trading desk.
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More negative than 98% of claims this week
TD Securities predicts no tariffs will be placed on silver bars, which could release a flood of physical metal back into the market.
More negative than 90% of claims this week
Higher silver prices are expected to begin rebalancing the physical market through demand destruction.
More negative than 78% of claims this week
Which stocks this story touches
More negative than 71% of ticker scores this week
The company suffered a nearly $2.4 million loss on a previous attempt to short silver.
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