34,6 bank bank
Knocking on heavens door
Er det rundt 35 som er motstandsnivået eller?
Jeg har brukt de siste mnd/ukene til å laste godt opp - så begynner å bli klar for en takeoff snart
Med svekkelsen av doallar mot NOK har vel sølvet falt i verdi for oss nordmenn?
Tavex sin salgspris gir en referanse
Yes 35 er motstand
RT 34,8
Hyggelig tid i det siste. Har vært på reise noen uker så 0 tilgjengelighet. Men vi liker good Times
Boom
The naked short on the March silver contract is the HSBC “customer” account.
I had posted about this situation a couple of days ago on “X” pointing out that the OI was one of the highest ever at this point in the delivery cycle:
https://x.com/DtDS_WSS/status/1904572463012282757
Over the last 2 days, that HSBC “customer” account has issued delivery notices on 417 contracts (2.1 million oz) dropping the OI as of this morning’s open to 223 (1.1 million oz). Last notice day is tomorrow (March 28) so they have delayed to the last moment.
This isn’t the first time HSBC was caught naked short. On one prior occasion, BofA bailed them out in the waning days of the contract. On this occasion, it appears (for now) they found some metal to deliver. I’ll get to the vault moves in a moment.
I’ve been calling attention to this account for more than a year … since that account commenced huge silver selling in December 2023. Since that time, they have sold about 87 million oz of silver and not bought one single oz. That selling spree accelerated on this current March contract where they have now sold 19.9 million oz … the largest single sell in their history and about double their prior run rate (see the plot below).
I have theorized that this isn’t a customer account, but is an HSBC bank account designed to suppress the price at the worlds price setting venue (comex) as they accumulate metal at non-price setting venues. I tagged this the “Differential Lag Theory” meaning they can buy at remote locations but the price signal lags comex.
I think this doubling of selling during this contract lends credence to that theory … as price pressure has increased, their selling has increased and possibly their buying at remote locations.
In addition, the probability that this account is a silver miner selling their production is diminished as mine production doesn’t typically double.
As time has advanced, it has become obvious this is a planned operation. This account’s huge selling was preceded by a new vault opening at comex (Asahi), a rare occurrence. It is apparent that nearly all the activity at Asahi is associated with this HSBC account as vault moves correlate perfectly with delivery notices issued by HSBC.
And that correlation continues … immediately prior to first notice on the March contract, 7.4 million oz was moved into registered at Asahi. Since then, another 5.9 million oz has been moved into registered with 1.8 million of that occurring on March 25 (yesterday’s report). That 13.4 million oz total remains short of deliveries of 19.9 million oz on this contract (so far). Thus, HSBC has likely burned all their registered inventory and is up against the wall on these last days of the contract.
What does this mean? Comex’s largest silver short is out of metal. This account was 25% of the total short volume on this near record contract … and they don’t have metal to deliver. At some point this charade will unravel.
Silver remains the only major metal still trading below its 1980 all-time high. But Krauth believes that may soon change.
Tenkte jeg skulle kjøpe noen unce i support til dette . Alltid gøy og utfordre de store med og være mange små. Noen som har noe formening om dette skjer på mandag ?
Bitcoin er klin kokos…. Sølv er rart ikke er mer verd.
Siste dag i Q1. Bare å glede seg til rapportene kommer. Må bli episk.
Litt mindre episk start på q2.
Bra det ikke ble kjøp på mandag som var
Tror både gull og sølv vil følge børsen ned et stykke for så å stige bratt og høyt slik det skjedde under krakket i 2008.Buen spennes!
Det var min tanke og. Så vi får bare sitte og tvinne tommeltotter til orkanen har lagt seg litt. ….