Commodity Trade Mantra

Posts Tagged ‘Comex Gold Open Interest’

Bullion Banks Target the 200-Day Moving Average in Gold a Third Time this Year

Twice previously this year, The Banks have managed to maneuver the gold price down and through the 200-day moving average. On these prior occasions, the speculator selling that followed allowed The Banks to buy back & cover large amounts of their perennial short contracts. And how far might gold prices fall if The Banks can pull this off again? Well, just as in May and July, not too far really.

Manipulative Attacks on Gold And Silver Failing to Yield Desired Results

The attacks on the price of gold persisted through Thursday, resulting in what appears to be a record weekly percentage drop in Comex gold open interest. But this attack resulted in a shallow price decline. And if you trace the build-up in the bullion bank short position over the past couple of weeks, it appears that the banks were willing to sustain losses on those shorted contracts in order to cover them.

Comex On The Edge? Paper Gold Dilution Hits A Record 124 Per Ounce Of Physical

The 43.5 million oz of paper gold open interest represents the total potential claims on gold if exercised, has to be observed in conjunction with the physical gold that backs such potential delivery requests. With record low 351,519 oz of registered gold imply that as of Friday’s close there was a whopping 123.8 ounces in potential paper gold claims to every ounces of physical gold.

follow us

markets snapshot


Market Quotes are powered by Investing.com

live commodity prices


Commodities are powered by Investing.com India

our latest tweets

follow us on facebook