Another Decrease in SLV’s Short Position

June 12, 2023

by Ed Steer Silver Seek

The gold price didn’t do much of anything in GLOBEX trading overseas on Friday, but then spiked higher at 8:30 a.m. in COMEX trading in New York, on whatever news. That was capped immediately — and then engineered lower in price until ‘da boyz’ set its low tick around 9:45 a.m. EDT. Its ensuing rally met the same fate at 10:30 a.m. — and it was then sold lower until around 11:35 a.m. EDT. It didn’t do a whole heck of a lot after that.

The high and low ticks in gold were reported as $1,987.80 and $1,971.00 in the August contract. The June/August price spread differential in gold at the close in New York yesterday was $15.00…August/October was $19.60… October/December was $19.30 — and December/February was $18.80 an ounce.