Peter’s Blog

Gold and silver continue to flow out of the COMEX vaults. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out […]

Managed money has controlled the gold and silver market over the last several months. But there are other dynamics going on unnoticed under the surface. Please note: the CoTs report was published 10/28/2022 for the period ending 10/25/2022. “Managed Money” and “Hedge Funds” are used interchangeably.

“How did you go bankrupt?” “Very slowly at first, and then very quickly?” The data shows that the Comex is in the middle of experiencing a run on its vaults that is really taking its toll and continuing to accelerate. If you read no further in this analysis, first just take a look at Figure […]

Let’s say you were a country or a group of very wealthy individuals and Covid hits. You see governments around the world print money like crazy. It makes you think there might be some inflation to deal with and you want to protect yourself. Gold and silver are the logical choices. So, if you decide […]

Physical metal has continued to drain from COMEX vaults. This is particularly true for silver, which now has 17.4 paper ounces for every registered ounce. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory […]

I typically start this analysis with gold, but the action in the platinum market is impossible to ignore. The next four charts should tell you everything you need to know. First, similar to gold and silver, platinum has seen a much higher delivery volume since the pandemic struck in 2020.

September gold has been a very strong delivery month with 8,573 contracts being delivered plus an additional 718 in open interest that will be delivered over the next week (9,219 total). It is currently still below the July month but could exceed the total by the time the month completes due to mid-month activity.

This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.

As we round out August in the COMEX, gold delivery was strong and silver was dominated by the odd mechanizations of Bank of America.

Gold saw the largest delivery volume in 2022 with 33,593 contracts delivered so far and 244 remaining in open interest. Since 2020, only December and February last year recorded larger volumes.