Here's Harvey Organs latest on the Open Interest for Silver, as of 24th Feb (quote) Thus the total number of silver oz standing in this delivery month is as follows: 2,275,000 oz (already served) + 440,000 (oz to be served) = 2,745,000 oz vs 2630,000 yesterday. As I promised you the silver standing is rising and judging from the lack of movement at the OI they are even having trouble satsifying these longs. Can you imagine the fun with millions of ounces standing and nobody has any to give? (endquote) So they're hanging in there and may demand their delivery of physical ... or a nice cash premium. This is playing out as has been forecast. I see the price has been kept down all this week, as was predicted would happen. Roll on Feb 28
I think some of the longs were hoping to see $36 silver. If they drive the price low enough, the longs would crack the shits and stand for delivery. They are probably sick of this game. I really hope at least 20000-40000 contracts stand for deliver out of the 100,000 open interests. Slam
Should we see a increase in the price/oz early next week? The price has been bumped down, but with the contracts due should things heat up?
I'm still buying because I believe the day will come when we all look back at $32 and say, "look how cheap silver was!".