Is Silver manipulated

[phneoix]

Hi,
I have been trading silver for a very long time and have made decent profits of it. But for the last 1-2 months I believe i am seeing very heavy manipulation in silver.
previously is if SILVER moved by 0.1 in international market it used to move by approx 170-210 rs on MCX if usdinr stayed the same.Conversely if Silver price stayed the same and usdinr moved by 0.1 the silver price used to move by approx 60-80 rs. But nowadays SOMETIMES i am seeing that even if USDINR moves by only 0.1 silver price moves by approx 150-200 rs without any corresponding move in international market. Conversely if silver falls by 0.1 in international market in mcx it only falls by 120rs approx.
Today at 12:30pm silver fell by 200rs without any corresponding fall in International markets. or in USDINR.
similarly from 6:30pm to 8:00pm prices silver fell by 0.15 in international markets as well as USDINR also fell by 0.1 which should have led to fall in silver prices on mcx by approx 250rs but the prices fell by only 150-160Rs.

I would just like to know whether it is market manipulation or am i missing something here.... Any Guidance will be highly appreciated.

 

[Riskyman]

Hi,
I have been trading silver for a very long time and have made decent profits of it. But for the last 1-2 months I believe i am seeing very heavy manipulation in silver.
previously is if SILVER moved by 0.1 in international market it used to move by approx 170-210 rs on MCX if usdinr stayed the same.Conversely if Silver price stayed the same and usdinr moved by 0.1 the silver price used to move by approx 60-80 rs. But nowadays SOMETIMES i am seeing that even if USDINR moves by only 0.1 silver price moves by approx 150-200 rs without any corresponding move in international market. Conversely if silver falls by 0.1 in international market in mcx it only falls by 120rs approx.
Today at 12:30pm silver fell by 200rs without any corresponding fall in International markets. or in USDINR.
similarly from 6:30pm to 8:00pm prices silver fell by 0.15 in international markets as well as USDINR also fell by 0.1 which should have led to fall in silver prices on mcx by approx 250rs but the prices fell by only 150-160Rs.

I would just like to know whether it is market manipulation or am i missing something here.... Any Guidance will be highly appreciated.

Today I was trading copper. I noticed that price in MCX broke recent support much before price in international markets did. Traders usually preempt moves considering INR movement. Also, if some commodity looks extremely bearish/bullish then traders may want to have a pre emptive position.
Cannot call this manipulation as such. Prices on mcx is always subjective so these adjustments keep happening all the time.

 

[MSN1979]

If you think close, everything is manipulated. Even what they feed us in news or text books.

 

[phneoix]

Rik

Today I was trading copper. I noticed that price in MCX broke recent support much before price in international markets did. Traders usually preempt moves considering INR movement. Also, if some commodity looks extremely bearish/bullish then traders may want to have a pre emptive position.
Cannot call this manipulation as such. Prices on mcx is always subjective so these adjustments keep happening all the time.

Thanks for your time and reply.
I feel i should stop trading silver and focus on crude and other metals. Silver-usdinr correlation is proving a big headache for me......

 

[pannet1]

Rik
Thanks for your time and reply.
I feel i should stop trading silver and focus on crude and other metals. Silver-usdinr correlation is proving a big headache for me......

I have a bad news for you. i am hearing a very similar complaint from my friend on CRUDE, NATURAL GAS, ZINC, COPPER and LEAD. He does not trade SILVER and GOLD for a long time due to comparatively higher margin requirement

From what I understand commodity traders look at International prices and then trade accordingly in MCX, assuming it will follow the former soon. Seems this have changed now and traders need to change the way they trade in MCX

 

[Riskyman]

Thanks for your time and reply.
I feel i should stop trading silver and focus on crude and other metals. Silver-usdinr correlation is proving a big headache for me......

Incidentally, I was also trading crude yesterday(monday). Crude gave a nice spike up (attaching a chart and marked the region). This looked like a small breakout trade. But crude began stalling at 46.40 usd mark and started to make upper wicks. At the point, mcx prices were not reacting to any downward changes in international prices at all. This could be happening because traders feel the breakout may hold. Maybe!
Its only when crude fell 12-15 cents that mcx prices also started to correct.
I agree with @pannet1 that many traders and algos use international prices to trade in mcx. Of course, there is a lag effect to all of this. You may end up thinking the markets are manipulated when you dont see prices reacting as quickly as it happens in the international market.
No point cracking too much head.

I suggest just trade the chart you see and things should be fine. There is no point jumping from one to another because good chance that you wil encounter the same across most commodities.

 

[HEM]

Hi,
I have been trading silver for a very long time and have made decent profits of it. But for the last 1-2 months I believe i am seeing very heavy manipulation in silver.
previously is if SILVER moved by 0.1 in international market it used to move by approx 170-210 rs on MCX if usdinr stayed the same.Conversely if Silver price stayed the same and usdinr moved by 0.1 the silver price used to move by approx 60-80 rs. But nowadays SOMETIMES i am seeing that even if USDINR moves by only 0.1 silver price moves by approx 150-200 rs without any corresponding move in international market. Conversely if silver falls by 0.1 in international market in mcx it only falls by 120rs approx.
Today at 12:30pm silver fell by 200rs without any corresponding fall in International markets. or in USDINR.
similarly from 6:30pm to 8:00pm prices silver fell by 0.15 in international markets as well as USDINR also fell by 0.1 which should have led to fall in silver prices on mcx by approx 250rs but the prices fell by only 150-160Rs.

I would just like to know whether it is market manipulation or am i missing something here.... Any Guidance will be highly appreciated.

I suggest just trade the chart you see and things should be fine. There is no point jumping from one to another because good chance that you wil encounter the same across most commodities.

View attachment 32250

Phneoix, Don't think so much and always remember Bold Red part of the Riskyman bro post..........


HEM

 

[phneoix]

Thanks Rik and HEM,
I have changed my trading style and started looking only for bigger moves instead of smaller ones. This change and your advice has helped me a lot.
Also i am trading only in evening when rupee volatality is very less. during day i have shifted my focus to Option trading.

Regards and thanks