
Comex Silver Delivery Volume Stays Strong as it Approaches a New All Time High
The CME Comex is the Exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.).
The data below looks at contract delivery where the ownership of physical metal changes hands within CME vaults. It also shows data that details the movement of metal in and out of CME vaults. It is very possible that if there is a run on the dollar, and a flight into gold, this is the data that will show early warning signs.
Gold
The Comex saw unprecedented delivery volume in gold after the election as highlighted in previous articles. This was driven by an arbitrage between the spot and futures market. That arbitrage has now fallen back to normal, though did see a brief spike on August 29th.