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Monday, May 01, 2023 8:54:46 AM
https://www.bullionvault.com/silver-price-chart.do
Let's look at why:
https://www.cmegroup.com/markets/metals/precious/silver.volume.html
Look at the SLV creation/volume from Fri. Only 47,000 SLV volume. When that number is LOWER the price of SLV goes higher.
There is only 1610 open interest contracts left to fill for May. Virtually nothing. And I think a lot of the contracts that were supposed to be filled got pushed back to July.
There are now over 118,000 contracts due by In July. 118,760 x 5000 = 593,500,000 ounces of silver.
I am not sure how high they will let silver go before July deliveries need to be filled. But the price will be back down before July.
A Democracy is 2 wolves and a lamb arguing what's for dinner. In a Constitutional Republic the lamb is armed. We live in a Constitutional Republic.
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