This claim has been made 1000's of times over the years, but no one has been able to really substantiate it yet.
Im hearing you mate. Who knows. One thing for sure though, there needs to be transparency in the metals markets.
I agree. Whilst I am a believer in the futures market being a credible market (I work in an industry that relies on it to hedge their production), I also believe the available data on positions in the market (eg COMEX data), is intentionally made too difficult to decipher, or a little bit hazy with regards to transparency.
Interesting times hey. Thanks for the info . I'm glad i live in Australia :} I see your in Northern NSW , I'm on the Mid North Coast.
Some food for thought: What's stopping any bullion smelter or processor from buying a 5000oz contract off Comex take delivery. Break down the silver to 1oz blobs or 1kg bars an flip it all at cost + small premium. Rinse and repeat and bust the Comex over the last 10 years? Surely someone would have done it by now? Unless the Comex has been playing dirty and refusing delivery or those short aren't supplying to the Comex but forcefully settling in cash.
Nothing but the paperwork, logistics and cost of delivery. Nearly always easier and cheaper to buy at spot off a wholesale bullion supplier that is more local. COMEX is not a bullion dealer, it is a clearing house. 5000oz wouldn't even register on their radar. No chance of busting anything. Only in a permabull's wet-dream.
I wonder if all those hedge fund managers, J.P. Morgan etc., ... right up to the fed, realise yet, that their silver shorts, aren't going away ? Go spot, go boy !
Well surely loads of retailers will be covering themselves by going long besides the reddit apes and us stacker malaka's ?
Stop out move would be epic, my long term technical target is 36-38 for major (62%) test. Consolidate above 36-38 can trigger bigger expansion. **This is just my opinion not for trade recommendation**
AG has gone nuts. Silver goes up 10%, AG’s up 40% pre-market. PAAS’s only up 17%. Should have bought more PAAS.