The Skew

March 22, 2026

By bob coleman – X

Gold and Silver markets are very thin at the moment. Meaning, volume is quiet, depth is shallow. These moves are a sign of lack of liquidity. Based on certain option skew I follow, we are near the peak bearishness we saw in early April of 2025 when silver went from $34 to $28 in 3 days. Peak bearishness in skew was April 8 while silver bottomed on April 7.

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The Skew

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