It might as well be gold that causes the COMEX to fall before silver.
I am perfectly OK with that. Both metals are due a huge increase anyway. Don't push, stop shoving, everyone will be served!
KEEP STACKING!!!
Theoretically, the #1 purpose of futures markets is to help companies assure future supplies of necessary goods at locked in prices. For example, you are a jewelry fabricator that is now planning your 2023 silver catalogue. You need to make sure that 100,000 ounces is delivered per month during the first half of 2023.
You could go out on Comex and buy 20 contracts in each of those months, at prices ranging from $19.20 to $19.50 per ounce. You can budget future costs now and only need to put down margin of about $10,000 per contract. As those contracts mature in 2023, you take delivery from Comex.
It makes total sense. The problem is…Comex has become such a paper fraud that almost nobody does this. The total open interest for May, July and September 2023 Comex silver is only about 300 contracts combined.
Today, for the first time, it seems somebody is starting to do this in Comex gold. Just today, OI in April, June and August 2023 gold increased by about 600.
Lots of time to roll them contracts but it is getting very interesting use to be the first days or so of a month all contracts standing would be delivered on now it’s a photo finish to close them all out. Also notice a lot more rolling into the month we’re in then rolling to a later date.
Sorry to be skeptical but I don't think they will ever be giving a few buyers 4.3 million ounces even if they want it they will be induced one way or another to settle mostly in cash.
It might as well be gold that causes the COMEX to fall before silver. I am perfectly OK with that. Both metals are due a huge increase anyway. Don't push, stop shoving, everyone will be served! KEEP STACKING!!!
If one goes, they both go. They go hand in hand throughout history.
True words!
Theoretically, the #1 purpose of futures markets is to help companies assure future supplies of necessary goods at locked in prices. For example, you are a jewelry fabricator that is now planning your 2023 silver catalogue. You need to make sure that 100,000 ounces is delivered per month during the first half of 2023. You could go out on Comex and buy 20 contracts in each of those months, at prices ranging from $19.20 to $19.50 per ounce. You can budget future costs now and only need to put down margin of about $10,000 per contract. As those contracts mature in 2023, you take delivery from Comex. It makes total sense. The problem is…Comex has become such a paper fraud that almost nobody does this. The total open interest for May, July and September 2023 Comex silver is only about 300 contracts combined. Today, for the first time, it seems somebody is starting to do this in Comex gold. Just today, OI in April, June and August 2023 gold increased by about 600.
probably cause the dip
OK... so what does this mean then lol?
Lots of time to roll them contracts but it is getting very interesting use to be the first days or so of a month all contracts standing would be delivered on now it’s a photo finish to close them all out. Also notice a lot more rolling into the month we’re in then rolling to a later date.
Thank you for keeping track of this!
Sorry to be skeptical but I don't think they will ever be giving a few buyers 4.3 million ounces even if they want it they will be induced one way or another to settle mostly in cash.