The way I see it in simple terms is that the big boys have recently flooded the market with paper to keep the price down but when end of month comes and delivery is called on the comex contracts, we may see a catalyst moment. There isn't enough readily available supply, so if a large or increased percentage of comex contract holders call for delivery instead of rolling over contracts there will be a problem.
Re comex contracts - A lot is institutional trading but some is real supply. There is a lot of commentary that bullion dealers having no stock right now is irrelevant, but I see bullion dealers demanding from wholesalers, who in turn demand from mints, who in turn demand from bullion banks, who in turn demand delivery from there comex contracts because they need supply down the chain. Hence shortage and price must increase.
I could be totally wrong but this is my take on it ?? Happy to be corrected.
IVR Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
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