by Alasdair MacLeod
Gold Money
Gold and silver prices continued to decline this week, with gold falling $37 to $1696, and silver down $1.32 to $25.27 in European morning trade today. A notable feature is the continuing decline in Comex open interest in both metals, with gold OI at the lowest level since June 2019, and silver at 156,682 contracts the lowest since last December. The bullion banks appear to have defeated the RobinHood/Reddit physical silver squeeze.
The next chart shows gold’s open interest history.
[…] It appears that bullion banks are finally winding down their exposure, and the most recently available position is shown in the table below.