Gold Futures open interest dropped significantly

Discussion in 'Gold' started by leon1998, Dec 6, 2014.

  1. leon1998

    leon1998 Member

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    In merely two weeks, COMEX lost about 90K gold futures; which is about the 20% of the total open interest (450K).

    90K gold futures is about 300 tonnes. Does COMEX have that much inventory in their vault?

    :rolleyes:
     
    leon1998, Dec 6, 2014
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  2. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Why do they need an inventory like that?
     
    wrcmad, Dec 6, 2014
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  3. leon1998

    leon1998 Member

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    My guess is, COMEX settles all contracts in cash now. Buyers are leaving the rigged paper game since they can't get any physical delivery.

     
    leon1998, Dec 6, 2014
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