Wednesday, May 11, 2011

Silver July Open Interest Remains at 332.8 Million Ounces

Bewildered by today's renewed WWF style take-down of silver?
For an explanation, consider today's July silver open interest from The CME Group.
The banksters are becoming desperate for physical silver, as July open interest closed today at 66,555 contracts, or 332,775,000 ounces of silver.  Again, this is against a backdrop of less than 33 million ounces of physical silver remaining at the COMEX.  Will the game of musical chairs continue in July, with longs settling for Blythe's generous cash premium?  One day soon the music will end, and those playing the game will find not just one, but numerous chairs missing.

Daily Settlements for Silver Futures Trade Date: 05/11/2011

Change Settle Estimated
Prior Day
Open Interest
MAY 11

-2.971 35.509 321 339
JUN 11

-2.971 35.509 3,682 702
JLY 11

-2.971 35.515 136,460 66,555