PMMaven

Comex Silver - Another Bubble or Desperation?

The strictest definition of a hedge is to offset risk. People universally use the term incorrectly. Primary producers and consumers can NOT hedge. They however can fix prices by selling futures. How does that eliminate risk. What if a mine sells its future production on COMEX and then the price goes up. They lose out. And what if a consumer buys futures on the COMEX and the price goes down. They lose out. Merchant Banks(Commercials?) are resellers of a commodity. It doesn't matter if they value-add to the commodity or not. They buy in the cash market and sell in the futures market. That is a true hedge. When they sell they cover their short. Hence no market exposure. A contango market pays them a little bit. I could go on w/ how they profit by writing options and managing the hedge ratio. But that's all for now.

Comex Silver - Another Bubble or Desperation?

What portion of Commercial Shorts are Cash & Carry hedge positions? Are any active silver contracts in backwardation?

Silver Trending Towards Backwardation Again

The month that counts is DEC. SEP & OCT are silly. Liquidity is important. Is DEC backward?

Shorts Unable to Stop Silver Rise

This is very confusing. Are these "Commercial" shorts banks. I am under the impression that silver resellers acting as merchant bankers would undertake a classic Cash and Carry hedging program. And what does annual silver mining output have to do with above ground inventory?

Premiums Paid for 100 Ounce Silver Bars

When you take 'delivery' from COMEX, you receive a 'warrant" for metal at the certified warehouse. This is after you've ponied up the dough. In the past you had to hire a certified shipper to physically pick up the metal at the vault. Is this till true?