SLVO - Comex Countdown: Will Gold Lead Silver Higher?

• Silver has nearly completed the major delivery month of September below recent months at 5,377 contracts.
• Currently, there are 294 contracts open, but this will not be enough to even get above the July amount of 6,692.
• In recent weeks, silver has been leaving the Comex vaults at a pretty fast pace.
• If October does make a strong showing, it may indicate that people wanting physical gold are starting to ignore the Fed and are simply trying to accumulate as much physical as they can.
• Essentially, the weakness that was showing up in gold a few months ago is now materializing in silver. This would imply that silver could rebound soon and close the ratio.

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