Peter's Blog

Comex Deliveries: August Gold Starts Strong

Delivery volume in the July gold contract got off to the weakest start in years, but then had a major mid-month rally, turning it into one of the strongest minor months in recent history. Over the last 15 months, it only trailed the blow-out month of March. Momentum has continued in the August contract.

Comex Update: Gold Sees Massive Delivery Volume Mid-Month

Gold started July delivery activity as the weakest minor month since 2019. This showed a general lack of interest in the market. Considering the activity since then, it’s possible this was a signal of capitulation. Since the start of the delivery month, activity in the July gold contract has exploded.

Comex Inventory: Why is Registered Collapsing During Backwardation?

This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.

Comex Results: Gold and Silver Fail to Deliver

Both silver and gold had their weakest COMEX delivery months in several years. Gold started July delivery with 937 contracts outstanding. This is the lowest level since November of last year and the second-lowest since the start of Covid (see figure 2).

Comex Countdown: What’s Really Going on With Silver?

This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail. The Comex has signaled weakness in the silver market but has been some activity bubbling under the surface. What’s really going on with silver?

Comex Inventory: Gold Outflows Accelerate While Silver Sees Significant Shuffling

Outflows of gold from Comex vaults have accelerated. Meanwhile, there is some shuffling of inventories of silver. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical […]

Comex Delivery Update: Shorts are Dragging Their Feet Again

The following provides an in-depth analysis of the COMEX futures options market for gold and silver. Gold: Recent Delivery Month Gold started June delivery with 22,394 contracts outstanding. This is below April and December, but above August, October, and February. It is about on par with last June.

Comex Countdown: Gold Shows Strength while Silver Sees Cash Settlement

This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.

Comex: Total Inventory Grows but Supply to Meet Delivery Shrinks

This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.

Comex Results: May is Quiet, but June Looks Strong in Both Metals

This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail. As reported last week, Comex May’s open interest activity was looking weak in silver while gold showed a mixed picture. May has been weak so far, but June continues to look strong.