FOMC results: nothing of importance/Big news is sthat the OI on silver continues to set new records: today 206,748 contracts or 1.03 billion oz
by Harvey Organ
Harvey Organ’s Blog
[…] Today we got a little surprise in that gold rebounded from its lows to close at $1249.20 at comex closing time and silver was up 18 cents at $17.29 The comex options expiry had little effect on both metals. In silver, we now have an all time high in silver OI at 206,748 which represents 1.03 billion oz. Generally when you get a record high OI, you also have high prices for your commodity.
Please remember that even though comex options have expired we still have London’s LBMA and OTC to contend with. They expire on Friday morning.
Let us have a look at the data for today.