20 November 2012

Comex Options Calendar For the Remainder of 2012



Nov. 27 Comex December gold options expiry
Nov. 27 Comex December silver options expiry
Nov. 27 Comex December copper options expiry
Nov. 28 Comex December miNY gold futures last trading day
Nov. 28 Comex November copper futures last trading day
Nov. 28 Comex December E-mini copper futures last trading day
Nov. 28 Comex December miNY silver futures last trading day
Nov. 30 Comex December gold futures first notice day
Nov. 30 Comex December silver futures first notice day
Nov. 30 Comex December copper futures first notice day
Nov. 30 Nymex December palladium futures first notice day
Dec. 21 Nymex January 2013 platinum options expiry
Dec. 26 Comex January 2013 copper options expiry
Dec. 27 Comex December gold futures last trading day
Dec. 27 Comex December silver futures last trading day

Dec. 27 Comex December copper futures last trading day
Dec. 27 Comex December E-micro gold futures last trading day
Dec. 27 Comex January 2013 E-mini copper futures last trading day
Dec. 28 Nymex December palladium futures last trading day
Dec. 30 Nymex January 2013 platinum futures first notice day
Dec. 31 Comex January 2013 silver futures first notice day
Dec. 31 Comex January 2013 copper futures first notice day

Gold Daily and Silver Weekly Charts


Just another day in the snoratorium as the precious metals and miners took a little hit when the Bernank turned his crank, jawbone-wise, in a very light holiday week trade.

The premiums on the bullion funds are impressively low as pointed out in intraday commentary.

They *could* hit the metals in the thin trade, and we can buy the dip for a later date. Life goes on.

The adults will be leaving for the Thanksgiving holiday sometime after noon tomorrow, unless they do not bother coming in at all.




SP 500 and NDX Futures Daily Charts


Bernanke spoke today.

I came, I saw, I printed.

And he is willing to print some more, but would rather not tip his hand.

Otherwise it was an uneventful, boring market.




Net Asset Value Premiums of Certain Precious Metal Trusts and Funds


Premiums are certainly not exuberant especially on the Sprott funds where they are downright thin by historical measures.

The metals were hit about the time that Bernanke started speaking. The short selling trading desks like to key off certain events in order to try and generate a little downside panic and some quick profits from a wash and rinse.

A strong and honestly efficient market with specialists who manage such irregularities would minimize the effectiveness of such efforts, and failing that, which always happens under any system of self-governance, official regulation would prohibit it. Unfortunately the US has neither, and no prospects of any near term change for the better.

This is how it is when markets are left to the machinations of insiders by the abrogation of justice. I think the paper veneer is covering a harder core of bullion held by stronger and stronger hands. Shortfalls develop and leverage increases, and at some point that tired old strategy fails badly, and then we have fireworks to the upside.

This lack of small investor enthusiasm may be bullish for more gains in bullion, after some short term shenanigans by the price fixers and market manipulators, who act largely unaffected by the regulators.