Silver Rolling Over to December Contract (Video)

Silver Rolling Over to December Contract Video by GoldSilverPros

The futures trading data is telling us that silver contracts are rolling over into December. Those who wanted delivery took it in July and August, and we expect a fair amount in September and just a bit in October.

December is now decision month for both gold and silver based upon very healthy open interest for that contract.

Given weak fundamentals such as a) election uncertainty and change of economic regime, b) short term treasury paper coming due to pay for the decimated economy and c) a potential second wave of shut downs, December should see return of healthy gold and silver bull markets.

The weak holders of gold and silver are selling out of their positions, and we may come down to previous support lines in gold and silver of about $1800-$1900 and $22-$24.50 respectively.

We also provide some new data on the 267 new gold and silver bar providers for COMEX, which is further proof that registered inventories of both metals on COMEX are extremely tight.

They are scraping the bottom of the market for any metal they can get. The squeeze in both metals is on for December.

Sharing is caring!

The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.