Rekord kortningar i silvret och eftersom det är options lösen idag så måste guldet under $1200 och silvret under $17
Eight non-silver producing speculators, euphemistically classified as commercials by the CME and CFTC, hold more than 376 million oz of equivalent silver net short in COMEX futures according to the current COT report, the most in six years. That’s the equivalent of more than 47% of total world mine production according to the CPM Group (790 million oz) and more than 42% of the 877 million oz reported by GFMS (why there are such disparities in world silver production is beyond me – I don’t trust either organization).
The one key feature which I have long identified as at the core of the silver manipulation - the concentrated short position on the COMEX - has just rocketed to a multi-year record extreme on an anemic silver rally to just over $17 an ounce, a level at which most primary silver miners can’t turn a profit. What kind of madness is this? - Silver analyst Ted Butler: 23 May 2015