Loading ...Agree on your chart observations … they would love it if they could trick the specs into dumping everything … but fortunately it’s limited to the more volatile shares … so could be a flat for the metals (with open interest levels so low) … especially if interested parties keep taking delivery of physical … another 3,000+Comex gold contracts for immediate delivery overnight …
Gold Futures Volume & Open Interest – CME Group
And silver still has 1,100 plus contracts to deliver this month (5,5 million ounces) to add to the 33.5 million ounces already delivered … and it’s still early in the month … with global tensions rising by the day. (why are they not delivered? – is somebody out of ammo? – does somebody need a silver bullion bailout?)
Silver Futures Volume & Open Interest – CME Group
While this is not the record-breaking delivery month (yet) many were expecting for silver … still … it’s way up there from a historical perspective … and would take quite a chunk out of remaining stocks (50%?) … pointing to near term default risks rising.
They can’t allow their precious tech stock bubble to implode … so the price managers are on it all day … every day … which can support the broader equity complex (and PMs) if they can keep it up. (the possible flat)
That’s the question … can they keep it up until more liquidity arrives (crack-up boom?) … or do they let it go.
I wonder if Trump (and company) can keep it up. (he’s pretty old)
Chuckle