Contract covering during the POG run downYesterday's morning push down allowed contract covering and shook-off almost 5K Jul SI contracts. Now 77,601 July silver contracts at 5000 ozs per contract so well over 35M ozs with many mines still ramping up after C-19 lock downs. Delivery issues could be really tight if these contracts stand for delivery.
(Jul is a big Silver delivery month and the JUL contracts declare in about 10 days. We will probably see more contract tree shaking before declaration. This is what they do.)
| Precious Metals Futures Summary (15-Jun-2020) |
| Metal | Volume | Open Interest |
| Contracts | Troy Ounces
(Paper) | Contracts | Troy Ounces
(Paper) |
| Gold | 207,721 | 20,772,100 | 484,474
(-1,043) | 48,447,400
(-104,300) |
| Silver | 88,724 | 443,620,000 | 172,936
(-2,978) | 864,680,000
(-14,890,000) |
| Platinum | 18,346 | 917,300 | 49,726
(-427) | 2,486,300
(-21,350) |
| Palladium | 1,146 | 114,600 | 6,529
(-53) | 652,900
(-5,300) |
| See precious metals Futures details or analyze historical charts. |