COMEX Silver Open Interest plunged further Thursday, declining another 3,366 contracts to a NEW MULTI-DECADE LOW OF 95,802!
Volume was absolutely anemic at just 35,210!
COMEX is DYING, literally fading into irrelevance as traders increasingly SHUN the paper CRIMEX market in favor of PHYSICAL metal & Asian exchanges.
The CME stabbed its own clients in the back one too many times with margin hikes, “cooling issues”, and “system issues” to protect the bullion banksters naked short hundreds of millions of ounces of silver every time silver neared an important breakout.
Open interest in the May contract declined -4,723 contracts to 1,576 - but the majority simply walked away from the caSINo.
The July contract only gained 1,133 contracts, bringing Open Interest in the Front Month to only 72,244.
The following delivery month of September only gained +20, bringing OI to 11,030.
Net Open Interest fell to just 95,802!
It will be interesting to view today’s Open Interest numbers with silver SURGING above $77 this morning - if OI can’t significantly increase on a day in which silver rips north $4, the COMEX may be COOKED for good!
SILVER TO $350-$500? MICHAEL OLIVER’S NOT BULLISH ENOUGH!
INVESTMENT DEMAND WILL DRIVE SILVER TO 4 FIGURES & INTO A MANIA!!
