Late today … getting ribs on the grill just as the vault report is released.
The upcoming active month of March 23 silver contract is about 8 days into the roll period. The OI is at 69,000 contracts, less than the average of prior months, but the metal in registered has shrunk precipitously …
… which places the OI on day 10 at 1100% of the registered silver. That is far over the average of 450% and exceeds December’s OI which caused grief for the shorts.
Little change at the silver warehouse on Friday:
JP Morgan’s gold vault sees 96,000 oz depart or 2% of their vault total. JP Morgan’s vault has been in a long steady bleed. Poor ‘lil jay pee pee.