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Metals Daily Exchange Volume & Open Interest – CME Group
Gold open interest down 16,000 plus contracts on First Notice Day for the March Comex Contract – Friday.
But what is super bullish is the silver contract saw 12,000 plus contracts (almost 13,000) come off due to deliveries of physical (this could be a record).
Of the 12,805, 10,119 silver contracts, 10,119 contracts stood for deliver yesterday. So that is 10, 119 x 5000 = 50,595,000 physical ounces delivered on the first day of the new contract.
This is so bullish. It’s just a matter of time.
Pretty soon we could see defaults due to the rehypothecation scam coming into play (hundreds of contracts written on each physical ounce of silver) … maybe this month (probably not but you never know) … who knows?
Keep those deliveries coming.
Everything is crossed.
Cheers all