Tuesday, March 29, 2011

Precious Metals Investing: Expect Fireworks in Silver

The ongoing drama at the silver COMEX should reach a climax this week. Just to quickly review, for the month of March (a silver delivery month) 1,383 contract holders deposited enough cash in their COMEX accounts to fully fund the purchase of 8.9 million ounces of silver. As of Thursday, March 24, there were still 632 futures contracts open, meaning 3.16 million ounces are still awaiting delivery even though the month is quickly drawing to a close.

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