That-Whereas3367 t1_j295ykd wrote
NYMEX is an exchange - it doesn't have any warehouses.
Traders are speculating - almost nobody takes physical delivery.
The futures contracts in precious metals are always much higher than the physical metal available. They are simply rolled over.
There is no realistic possibility of any meaningful squeeze on platinum or any other precious metal.
TheHappyHawaiian OP t1_j29cfb6 wrote
Have you actually looked at the numbers for January?
Most roll over yes, January OI peaked at over 3 million ounces, but 141k worth of longs are taking delivery this month
So what you’re saying is usually true, but now, for January Platinum, it is not
Apsco60 t1_j29cdlp wrote
>There is no realistic possibility of any meaningful squeeze on platinum or any other precious metal.
I do not necessarily agree with this one although I believe squeeze discussions are usually overblown. For platinum they are not.
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