Silver added $0.184 cents this past reporting period and gold wandered down $+18.60 but do you know how they got there?
Let’s look under the hood…
Here is the CME Daily Bulletin report from April 26, the most significant day of last week for you to see the most active volume month (MAVM) and the second most active volume month (2MAVM). See if you can spot the the MAVM and 2MAVM in this full report:
If you decide you would like to monitor these reports on a daily basis to gain technical knowledge for following trading on Comex gold and silver futures and options, here is where you find the reports: http://www.cmegroup.com/tools-information/build-a-report.html?report=dailybulletin
My CME daily bulletin aggregation spreadsheet is below, for reference, for the rest of this report.
On April 26th, we see the price of silver rose $+0.851 during the trading day’s 24 hours. We see in the MAVM -10,752 contracts dropping out of the spot price calculation. Of those contracts, 3,921 went into the 2MAVM and -6,593 left the total open interest entirely. Of the 3,921 probably all of them are due to speculator short coverings and the commercials snapped up the majority of those shorts to make profit on another day, such as we have seen the last several days. Notice also in the silver COT table below that the commercials discard -4,504 shorts. But this is not the day they did that maneuver because on a price rise the commercials are always buying shorts for their next manipulative profit spree.