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FSN: The Gold Futures Open Interest Caper
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Keith Weiner
Gold Seek
In the recent Gold Basis Report, we published a graph showing the open interest in gold and silver futures (i.e. the number of contracts held at any given time). At the time of the crash and in subsequent days, the open interest number decreased only modestly in both metals. A number of people asked me the question: why did the numbers drop so little? Wouldn’t one expect to see a big drop?
Here is a chart that zooms in to a close-up on the days around the crash, labeled as clearly as possible so the date of each data point is clear. We included only gold for clarity, but silver looks similar (in this article whatever I say about “gold” applies equally to silver).
Continue Reading at GoldSeek.com…
2013-04-26 10:45:17
Source: http://silveristhenew.com/2013/04/26/the-gold-futures-open-interest-caper-2/
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