Silver Futures Index $SILVER (SILVER)

[DiscoverGold]

In silver, the total open interest SURPRISINGLY FELL BY A CONSIDERABLE 2763 contracts
By: Harvey Organ | December 29, 2017

In silver, the total open interest SURPRISINGLY FELL BY A CONSIDERABLE 2763 contracts from 196,966 FALLING TO 194,459 DESPITE YESTERDAY’S GOOD 13 CENT RISE IN SILVER PRICING. WE HAD SOME CONSIDERABLE COMEX LIQUIDATION AND WITHOUT A DOUBT WE WITNESSED ANOTHER MAJOR BANK SHORT- COVERING OPERATION. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A HUGE 1944 EFP’S FOR MARCH (AND ZERO FOR OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1944 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 1944 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. YESTERDAY WITNESSED EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. I BELIEVE THAT WE MUST HAVE HAD SOME MAJOR BANKER SHORT COVERING AGAIN TODAY.

https://harveyorganblog.com/2017/12/29/dec-29/

• DiscoverGold

Click on "In reply to", for Authors past commentaries

****************************************
*** For Market Direction and Trends visit our board:
https://investorshub.advfn.com/Market-Direction-and-Trends-26249/