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.