by Bill Holter, MilesFranklin.com:
It looks like the CME has “changed” their open interest numbers since posted this morning. I saw the numbers with my own eyes this morning which showed an open interest gain of over 10,000 contracts for gold and over 3,500 for silver. If the “new numbers” are correct, there is still more open interest in gold than there was Thursday’s close and only a drop of 2,000 in silver. Still not anywhere near the amounts one would think that was necessary to create the price drops we’ve seen. I know that these numbers were displayed earlier because I have since read commentary similar to mine that had the same figures… I do believe my lying eyes and am not senile yet. I know what I saw and even checked the date to make sure that they were yesterday’s numbers. Who knows, maybe the real numbers were too unbelievable and even a shlep like me saw what happened so they changed them… crazy world we live in!
When there are more buyers than sellers… the “price” goes up, when there are more sellers than buyers… the “price” goes down… right? This is the way it works? Or is supposed to? As you know, we live in a world where nearly everything real has 2 markets, the paper market and the physical market.
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