Question to stackers about silver commodity trading
🧐 Research Wanted 🤔
I have been checking Kitco (https://www.kitco.com/) daily to follow silver pricing. Lately I have also been checking COMEX (https://comexlive.org/) for the same reason. Every day I see that there is a significant difference between the two companies, with COMEX usually $7 to $8 higher than the Kitco chart.
Does anyone know why that is?
Bonus question: After silver hit the mid- to high-$80's a couple of weeks ago, why has the price dropped again?
Kitco is considered the most accurate spot chart. I use bullion vault because I like the chart better. Their should only be about a doller difference between kitco and comex. When the price hit 84 it was in a thin market in Australia, it was not a real price. I think they pumped it ,just to make their smash look bigger.
The price dropped when they increased margins,and traders without spare cash had to sell. And they also sold more futures to hammer it down.
Margins were also increased yesterday.
Right now the price is in backwardation spot is higher than the futures price,as people want silver now,rather than in the future. This is very unusual,but more frequent the last few months.
Thanks, I'll look for the bullion vault instead.
Kitco is what I follow, JMBullion whoo I buy from. I won't go into the specics about Comx as there are very succint posts on what they have done. The drop is either heavy profit taking or pressure from TPTB against the rise of silver which crossed a line that will demolish resistance. IMHO😎
Kitco and the Comex price you are following are selling paper contracts, not real physical metal at that price. If you go to the Kitco store to actually buy silver it is in closer alignment with the price of real physical metal. And some is only available in Canada, some in USA and much is not available or sold out. At this point it is futile to follow the paper contracts, you should see price shift upwards on Friday even for the paper contracts but the real tell will be how much the physical metal moves.
https://www.youtube.com/watch?v=zomnFO8Eo74
AI Asian Guy might have the answer you are looking for. I searched my past viewings of his vids and this one kinda explains the difference between what physical silver is worth and what paper silver is worth. Hope you have a few minutes to view it.
https://x.com/silvertrade/status/2006514199019532629
$106 Billion in repos on NYE alone. The banks are broken. They're being forced to liquidate shorts which is why the price is crashing. There still might be crashes until they're flushed out.
We don't know what bank or banks are in real trouble. I'm going to be doing some research and possibly shorting a bank ETF. It won't matter if I get the exact bank wrong with an ETF that holds a bunch of them.
We're in for a roller coaster either way. There could be 10-20% price swings daily. Be smart and don't get greedy.
https://www.youtube.com/watch?v=f9TIwNUVDIQ This guy has really good analysis. It's boring and college level but informative. I wouldn't take advice from a cheerleader. Sometimes you need to hear what you don't want to.
Ok, thank you.
https://www.tradingview.com/symbols/FRED-RRPONTSYD/
Repo was 2.5 trillion in 2023. I'm not saying a bank isn't in trouble,just a little perspective.