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>COMEX stock drawdown: single most important metric to watch  - Bron Suchecki - Perth Mint
Great article, and the telling line is the last. " they don't have the money to stand for delivery"
Exactly!!! and that is why they are playing in the futures market in the hope that if they are long that the price will go up and they can take a cash profit.
They are not the slightest bit interested in standing for delivery and could not anyway thru lack of cash.

So what does all this mean?
I THINK IT IS PRETTY BULLISH.
Comex is holding way more than they need eg gold which on those figures is 5 times more!
WHY...its just a relic which sits around gathering dust is it not?

NOT. They use it to make risk free profits on spreads. They are not stupid and are holding way more gold than they need for a reason. ( I wonder what that might be)
Furthermore I think it fair to say that people with wealth who want to invest in gold will not do so thru a futures market. They are not playing there with the great unwashed. They are not gamblers. They buy metal from places like the PERTH MINT and more of it when the futures price goes down.


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Début de l'article :To understand what is going on with COMEX stocks, don't look at the stock level - it will lead you astray. You need the metric I presented at the Gold Standard Institute's 2009 seminar; one which Professor Fekete thought was the single most important metric to determine stress in the market. The second thing you need to do is put recent market action in historical context. Firstly, lets review some historical stock levels for gold and silver for some key years - the 1980 peak, the 2001 bottom,... Lire la suite
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