May 26, 2024

Gold Backwardation, Tracking COMEX Depletion, Banks’ Gold and Silver Short Positions

Red Alert: Gold Backwardation

Posted late last week explaining the how gold went to backwardation for the first time in history. The implication is that backwardation will lead to a breakdown of the delivery mechanism for gold, which takes us to the next link…

Vaporize the COMEX

Tracking gold and silver deliveries from the COMEX versus registered inventory in COMEX warehouses. After today, gold is 43% depleted and silver is 37.1% depleted.

“On the fly” Gold and Silver COT Information

A small number of US banks continue to hold an ever increasing porportion of all commerical net short positions for gold and silver futures. Three US banks accounted for 66.97% of the net short gold positions, and two banks accounted for 98.64% of the net short silver positions.

Gold shines on

A brief piece published on Fortune outlining the bullish case for gold.