This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.
Delivery for both gold and silver was underwhelming.
This analysis focuses on gold and silver physical delivery on the Comex set for September 21, 2021. See the article What is the Comex for more detail.
The price of gold and silver can be driven by many variables both technical and fundamental. Fundamental drivers include Fed meetings/speeches, its balance sheet, inflation data, jobs numbers, market risk appetite, etc.
This analysis examines some of the more technical factors driving prices (e.g. Comex OI, Miners price action, technical price action). The CFCT Cots report can show investor positioning but is covered in another analysis.
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 data at the Comex. This is different than the delivery countdown that looks to see how many contracts will stand for delivery each month. Instead, it shows the physical movement of metal into and out of Comex vaults.
This analysis focuses on gold and silver data provided by the Comex/CME Group. The Comex (or CME Group) is a global derivatives market that allows for trading in futures contracts. They allow two parties (a long and a short) to speculate or hedge in specific commodity markets and guarantee the transaction in the process. The majority of gold and silver is traded in paper form on the Comex within the futures market rather than in the physical market. See the article What is the Comex for more detail.
This analysis focuses on gold and silver data provided by the Comex/CME Group. See the article What is the Comex for more detail.
Silver: Recent Delivery Month
First Position Day is when contracts must post 100% margin to stand for delivery. Once delivery begins, contracts can settle in cash, or more contracts can be opened and stand for immediate delivery (usually a sign of strong physical demand). Figure 1 below shows the last 24 months of silver delivery data when compared to First Position and the day
This analysis focuses on gold and silver within the Comex/CME futures exchange See the article What is the Comex? for more detail. It provides historical context and defines many of the terms used below.
While it is exciting to track the countdown to First Notice to determine how many contracts will stand for delivery in a given month, the real movement of metal occurs in the stock report which shows metal entering and leaving the Comex system as well as ownership of physical metal. The charts and tables below analyze this data to track the change in trend that occurred with the Covid pandemic in early 2020 as noted in What is the Comex?.
This analysis focuses on gold and silver data provided by the Comex/CME Group. The Comex allows investors/traders to gain exposure to commodities using futures contracts. Contracts can settle for delivery of the physical commodity. Tracking the demand for physical metal can give better insight into the market. See the article What is the Comex for more detail.
COMEX is the primary futures and options market for trading metals such as gold and silver. There have been some interesting trends for silver in the COMEX in recent months. More investors are taking delivery of silver. In other words, the short squeeze may still be on track – albeit in slow motion – and this could impact the silver price moving forward.
