RXL 0.00% 13.5¢ rox resources limited

Following on from the flow's post, I also read in an article...

  1. 426 Posts.
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    Following on from the flow's post, I also read in an article recently that the number of Comex Gold contracts that were heading for, or seemed to be heading for, actual physical delivery was at an all time high, It seems that some big players are using the Comex contracts as a way of guaranteeing physical gold delivery. This causes a bit of a panic situation for the poor sods who are holding the "Short" or "Sell" side of the contracts who then need to go and source the gold, The monthly contracts expire on the 3rd last business day of each month, which may lead to an extra stimulus to the spot bullion price at that time. If this theory holds any water, then if you were trading in an out of the gold mining stocks, then you might look at the last week of the month as being a good time to take some profits and the first two weeks of the following month as a possible re-entry point, assuming there's a pullback in the spot price after the contracts expire. It's just a theory, but might be worth keeping an eye on it. If you're unconvinced that the imminent maturing of futures contracts can get weird, just cast your minds back to earlier this year when the price of oil futures for imminent delivery dropped to MINUS $32.00 per barrel. 'Long' position holders had to PAY people to take the oil off their hands. Weird Sh!t can happen.... DYOR.
 
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Last
13.5¢
Change
0.000(0.00%)
Mkt cap ! $54.97M
Open High Low Value Volume
13.5¢ 14.0¢ 13.5¢ $4.535K 32.59K

Buyers (Bids)

No. Vol. Price($)
3 79685 13.5¢
 

Sellers (Offers)

Price($) Vol. No.
14.0¢ 185238 7
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Last trade - 10.36am 05/07/2024 (20 minute delay) ?
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