by Keith Weiner, Gold Seek:
There is a stark difference between the states of the markets for the monetary metals. The number of open futures contracts in gold is low, while in silver it’s high. First, let’s look at the data and then we’ll discuss what it means.
Here is the graph showing the open interest.
The picture is clear enough. Since the beginning of fall, the number of gold contracts has blipped up and down and now there are somewhat fewer (-3.7%). Meanwhile, the number of silver contracts has gone up substantially (+39%).
Now let’s look at the ratio of gold contracts to silver contracts, going back to 2010.
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