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Exactly … you get it.

Have a great weekend.

The juniors are looking good too.

Cheers

I don’t understand all the lingo or how the delivery days/notices work, but what struck me is that it is the second month in a row that the contracts are active with a high % of registered. Another contract month and they may be scrambling for metal unless they’re sitting on mountains of it stored elsewhere.

I think there’ll be a big signal when we start to see these local dealers raising premiums and scrambling for supply.

… at Comex are being drained at an increased rate … an alarmingly increased rate.

Physical demand is up at comex as 28% of registered gold transfers on the August contract. Meanwhile September open interest is now more than 2x average. (substack.com)

A rate that will drain supply quickly.

North American’s will be paying higher prices (soon) when they decide to start buying – if they can get it.

Cheers all

Just in case you needed a good laugh today (more likely, a guffaw)

https://www.zerohedge.com/geopolitical/top-10-countries-gold-reserves-2024-whos-adding-most