The OI in Dec is only 16,053 contracts, if every long takes delivery it is only a fraction of the gold available in the warehouses. Where does this Comex "doesn't like the physical guys" come from? If the Comex "doesn't like the physical guys" then why do they bother to have warehouses? And why do the warehouses have over 8.5 million oz of gold?
So, does that mean over 50% are taking delivery, then? I thought it was usually more like 2%? For those with $70k to pony up it seems like its a good way to get large qty gold without having to pay a big premium. If it works out I might try it next time the price dives.
What does Citibank Internal Memo say about GOLD....... http://www.telegraph.co.uk/finance/...e-above-2000-next-year-as-world-unravels.html
No, nowhere near 50% are taking delivery. The open interest had been over 150,000 contracts. Most futures traders roll to the new front month. Anyone with the cash can buy large quantities of gold in the normal gold market without a large premium. How many tons would you like to buy?
You OBVIOUSLY do not know about Tom Fitzpatrick, the bank's chief technical strategist (CitiFX). BTW, he has NOTHING to do with Citi's executive upper management hierarchy (the PRIMARY incompetent group that was manipulted by global wealth entites into the companies financial destruction).
Should I be worried that Tom Fitzpatrick is going to put a contract out on me? :eek: Maybe whack me with a 100 oz gold bar?
What??? What does that have to do with Tom Fitzpatrick's history of accuracy in his analysis with Citi??? Strange? :eek: