Loading ...Comex is effectively the largest gold and silver mine, with stand for deliveries a source for bullion. The conversion of paper gold and silver into bullion is now conspicuous. It cannot last.
Where are the bulls? – Research – Goldmoney
Worth the read. Answers your question.
PM specs/investors are top calling.
Should work its way off once silver is above $50 for a week or so.
Can’t blame people for being cautious given the psychos we are dealing with.
But look at what happened yesterday with the big reversal (and runup today) … with CME Gold Open Interest (OI) down 6273 contracts … with a hefty 5269 contracts delivered (and 5,900 Exchange for Physicals – EFP’s) … and only 431 contrasts added in silver with 825 Exchange EFP’s.
Metals Daily Exchange Volume & Open Interest – CME Group
Definitely no mania in PMs.
Cheers all