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re: This could be something....Look beyond equities, Silver to be the next short squeeze
Posted on 2/2/21 at 2:58 pm to cadillacattack
Posted on 2/2/21 at 2:58 pm to cadillacattack
Exactly what Cadillac said.
I have a small furnace, stamps and molds but you need beast of a furnace to melt a comex bar. Even cutting and melting in batches would be a pain. It would take forever. All the mints are slammed making as much as they can. Refiners will get busy too if the price goes back up.
I have a small furnace, stamps and molds but you need beast of a furnace to melt a comex bar. Even cutting and melting in batches would be a pain. It would take forever. All the mints are slammed making as much as they can. Refiners will get busy too if the price goes back up.
1
Posted on 2/2/21 at 3:11 pm to misterc
Misterc, as always thanks for the input. I was looking over some numbers and I found something curious. In the COMEX website they list the volume of futures contracts bought by month.
It seems that silver crashed because someone bought a LOT of silver for March 2021. If I am reading this right they bought something like 311k contracts, or 1.5 Billion oz. By my math that's roughly equivalent to an entire year of metal, globally, which brought down the price roughly 10% and it sold overnight.
Tldr:how is it comex sold an entire year or metal overnight? Where did it come from? The whole thing seems strange.
COMEX
It seems that silver crashed because someone bought a LOT of silver for March 2021. If I am reading this right they bought something like 311k contracts, or 1.5 Billion oz. By my math that's roughly equivalent to an entire year of metal, globally, which brought down the price roughly 10% and it sold overnight.
Tldr:how is it comex sold an entire year or metal overnight? Where did it come from? The whole thing seems strange.
COMEX
This post was edited on 2/2/21 at 3:15 pm
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