Mad scramble for physical... London drained of gold and silver.... since mid December - maybe we should ask Musk if he is buying on behalf of the Treasury. He claimed he didn't know gold had not been audited for decades. That was BS!
You probably mean new contracts and not deliveries? All deliveries happen after first notice.
Contracts written after first notice day tell us the exact timing of the buy/sell. On certain occasions, when delivery notices are immediately issued, I can tell who exactly bought and sold. So, if gold has rallied say $100 over the last month but I see BofA buying ... that tells me something about BofA.
Whereas the contracts created before FND are lost in the blizzard of trading activity. All you know what OI had been 3xx,xxx contracts a month ago and on FND there are 2x,xxx left. I don't know when those folks created their position.
Is short ... the net new contracts is an instantaneous read on market perception.
Love your work Michael. Gods money :) so here’s a theory - Trump (after advice) deliberately drains London and Comex either to replace Fort Knox gold pre-audit (which was inevitable in this age of new transparency, as is the feds inevitable audit, disgrace, closure and ultimate default), or to simply prepare. Deliberately crashes the gold manipulation system which he would most clearly hate as a righteous man (save it libtards) and more importantly dear old dad would have reviled. Oh dear he says look at all the bankers that got screwed for making bets and gambling. Getting what they deserve. Gold rises to fair value. (Anywhere from 25/75k), He marks the treasury gold to market after the moonshot. Hasn’t had to raise his little finger. Full deniability. Investigate that criminal (RiCO) bunch of SOB. Hey team we have no national debt now. Let’s Make America Great Again. Biggest win ever just by buying lots of gold in a time where everyone is.
The only "evidence" I've heard that COULD support the US Govt is involved is the CEO of Stonex saying (he believes) 2,000 tonne of gold have gone to the USA recently. That huge amount could imply the govt is involved.
Otherwise, Bessent went on record saying he believes the gold is in Ft. Knox. That all said, I think it is good to let one's mind wander to explanations such as yours.
Let’s approach it another way. If anyone else other than the govt was buying gold at that rate they would get stopped / shut down. Buffet wouldn’t do it as he’s been there before and narrowly escaped a hunt brothers tragedy. It’s a limited list of entities that could buy over 150 billion dollars of gold, and then actually be ‘allowed’ to
I'd subscribe to the theory that it is hundreds of people. I see the breadth of buyers on the issues and stops report from comex. There's a lotta entities buying.
Mad scramble for physical... London drained of gold and silver.... since mid December - maybe we should ask Musk if he is buying on behalf of the Treasury. He claimed he didn't know gold had not been audited for decades. That was BS!
BTW, that is a really good article. Your shorter but more frequent notes, are really useful. Thanks for all your effort.
Great analysis Michael. Thanks for putting this all together for everyone!
Thanks for another excellent analysis Michael. Please can you explain that the significance is of deliveries before either before or after FND?
You probably mean new contracts and not deliveries? All deliveries happen after first notice.
Contracts written after first notice day tell us the exact timing of the buy/sell. On certain occasions, when delivery notices are immediately issued, I can tell who exactly bought and sold. So, if gold has rallied say $100 over the last month but I see BofA buying ... that tells me something about BofA.
Whereas the contracts created before FND are lost in the blizzard of trading activity. All you know what OI had been 3xx,xxx contracts a month ago and on FND there are 2x,xxx left. I don't know when those folks created their position.
Is short ... the net new contracts is an instantaneous read on market perception.
Love your work Michael. Gods money :) so here’s a theory - Trump (after advice) deliberately drains London and Comex either to replace Fort Knox gold pre-audit (which was inevitable in this age of new transparency, as is the feds inevitable audit, disgrace, closure and ultimate default), or to simply prepare. Deliberately crashes the gold manipulation system which he would most clearly hate as a righteous man (save it libtards) and more importantly dear old dad would have reviled. Oh dear he says look at all the bankers that got screwed for making bets and gambling. Getting what they deserve. Gold rises to fair value. (Anywhere from 25/75k), He marks the treasury gold to market after the moonshot. Hasn’t had to raise his little finger. Full deniability. Investigate that criminal (RiCO) bunch of SOB. Hey team we have no national debt now. Let’s Make America Great Again. Biggest win ever just by buying lots of gold in a time where everyone is.
Wow on that!
The only "evidence" I've heard that COULD support the US Govt is involved is the CEO of Stonex saying (he believes) 2,000 tonne of gold have gone to the USA recently. That huge amount could imply the govt is involved.
Otherwise, Bessent went on record saying he believes the gold is in Ft. Knox. That all said, I think it is good to let one's mind wander to explanations such as yours.
Let’s approach it another way. If anyone else other than the govt was buying gold at that rate they would get stopped / shut down. Buffet wouldn’t do it as he’s been there before and narrowly escaped a hunt brothers tragedy. It’s a limited list of entities that could buy over 150 billion dollars of gold, and then actually be ‘allowed’ to
I'd subscribe to the theory that it is hundreds of people. I see the breadth of buyers on the issues and stops report from comex. There's a lotta entities buying.