The CME (yes, that saintly city Chicago is their 'home') just said that for five out of the last six trading days there have been ZERO delivery notices for Silver filed.
- And, as incredible as it may seem (for there IS not this much physical Silver available on the planet), we may reach 5 million ounces of the stuff 'standing' for delivery on the COMEX this month.
When the COMEX crashes, a la MF Global, their customers will not get their money back, and if you look at this chart it looks like many have figured this out and are not 'playing' on the CRIMEX.
- I would also keep an 'eye' on the unbacked paper ETF's GLD and SLV.
Friday, 17 February 2012
CME/COMEX................from Rico
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