03 March 2015

Gold Daily and Silver Weekly Charts - Silver Remains Actively Sought for Delivery


This may be an 'inactive' month for gold, but not for silver.
As the latest clearing report from the Comex suggest, silver is getting an active declaration for delivery, with over 7 million ounces claimed so far in March. 
The latest Comex delivery report is below.
It may be a bucket shop for gold, but for some reason the Comex silver warehouses remain active, with bullion actually changing hands now and then, despite the obvious price antics practiced there.
The gold held at the Comex seems to have become largely symbolic, a reminder of what the pyramid of paper is said to represent.  It is like an old pier left in a bay that has silted over.  The gold markets have headed East.
Otherwise it was the same old, same old.  
Gold and silver are bid up on the overnight, and then slammed down with the London PM fix and then the opening of the NY Comex trade.
There is a message in this repetition.  And they continue on, despite the gathering storms on the horizon.  
Have a pleasant evening.