Chinese Billionaire Bian Ximing Bets Big on Silver Price Plunge

• Bian Ximing, a Chinese billionaire trader, has taken a significant net short position on Silver, anticipating further price falls.
• Ximing gained prominence by profiting nearly $3 billion from bullish bets on Gold contracts on the Shanghai Futures Exchange since early 2022.
• His current net short position on Silver on the Shanghai Futures Exchange is the largest, totaling 450 tonnes or 30,000 contracts.
• Despite initial losses from a two-day upmove, Ximing's Silver short position has already yielded a paper gain of $288 million (2 Billion Yuan).
• Analysts view Silver's recent upmove as speculative, contrasting with Gold's role as a haven asset, supporting Ximing's short bet.