Andrew Maguire and Craig Hemke break down the huge delivery requests on March COMEX contracts.
Watch this week's Live from the Vault for:
5:05 How is gold and silver price determined?
8:35 The history of gold and silver price manipulation
12:00 How to stop corruption in the gold and silver market
18:04 Wall Street Silver VS paper market corruption
19:05 Unallocated gold and silver scam explained
26:41 Physical price VS paper price
28:13 Current physical demand pressure will push prices parabolic
29:59 Wall Street Silver movement piling pressure on the COMEX
41:57 Delivery requests soaring on the COMEX
52:30 COMEX on the run
54:16 Unprecedented physical silver demand
In this week’s Talking Gold blog, Andrew Maguire and TFMetalsReport founder, Craig Hemke, crunch the numbers on upcoming requests for COMEX Gold and Silver Futures delivery.
March Gold Contracts
Historically, the March contract presents very little volume or open interest. However, as the typically sleepy month draws to a close, we are observing huge delivery requests on the Gold Futures (GC) market. With only a few trading sessions remaining before March contracts expire, there are more than 30 tonnes of gold standing for delivery.
March Silver Contracts
In terms of March silver delivery contracts, there are 11,660 open contracts representing over 1813 tonnes of physical silver. To put that into perspective, the current figure is already 361 tonnes higer than the December contract, the biggest delivery month of the year to date.
Watch Andrew Maguire share his forecast on how high gold and silver will go post-Basel III in last week’s Live from the Vault.
Previous March Delivery Requests
Craig takes a look back at previous March contracts underlines the significant uptake in delivery obligations targeted at the COMEX.
Around the time the paper market broke, the COMEX delivered close to 2,900 March contracts. At the time, this level of delivery demand was extraordinary, with all March deliveries from 2015 to 2019 combined standing at around 800.
As the March 2021 contract closes, we’re approaching an astonishing 10,000 contracts. With the exception of last year, the March 2021 delivery orders are set to be around 25 times the average.
A cursory glance at these statistics shows the delivery requests on the COMEX have soared. According to Andrew Maguire and Craig Hemke, all signs indicate that the Gold and Silver Futures markets are coming under increasing stress as a delivery vehicle.
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The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis.
This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.