IKnow QUR
@IKnowQUR
03 December, 01:52
Comex SILVER delivery notices as of Friday 12/02/2022
2,776 contracts x 5,000 ounces = 13,880,000 ounces of Silver standing for delivery
just under 7,000 TONS
2,776 contracts x 5,000 ounces = 13,880,000 ounces of Silver standing for delivery
just under 7,000 TONS
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431.7 metric tonnes
linux> echo 'scale=8; 2776 * 5000 * 31.1034 * 10^(-6)' | bc -l
431.71519200
31.1034 g per toz (aka troy ounce)
1 million grammes in a metric tonne
This stuff is fun but we have to get our units right. Which is why I like showing my work. Ya know, it can then be criticised constructively.
linux> echo 'scale=8; 2776 * 5000 * 31.1034 * 10^(-6)' | bc -l
431.71519200
31.1034 g per toz (aka troy ounce)
1 million grammes in a metric tonne
This stuff is fun but we have to get our units right. Which is why I like showing my work. Ya know, it can then be criticised constructively.
08:16 AM - Dec 04, 2022
In response IKnow QUR to his Publication
Only people mentioned by K9King4eva in this post can reply
IKnow QUR
@IKnowQUR
04 December, 08:33
In response Justa Dawg to his Publication
Silver contract = 5,000 ounces
2,776 contracts standing for delivery on 12/2/22 (image above)
2,776 x 5,000 = 13,880,000 ounces
13,880,000 / 16 ounces per pound = 867,500 pounds
867,500 pounds / 2,000 pounds per ton = 433.75 tons
Corrected again. Thank you!
A LOT of Gold & Silver delivery notices for 4 days!
2,776 contracts standing for delivery on 12/2/22 (image above)
2,776 x 5,000 = 13,880,000 ounces
13,880,000 / 16 ounces per pound = 867,500 pounds
867,500 pounds / 2,000 pounds per ton = 433.75 tons
Corrected again. Thank you!
A LOT of Gold & Silver delivery notices for 4 days!
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Justa Dawg
@K9King4eva
04 December, 11:11
In response IKnow QUR to his Publication
Heh heh...
When COMEX say oz, they mean *** toz ***.
1 toz = 1 troy ounce
100% certain.
"troy" is not the same as "avoirdupoids".
All this comes from history, Big Time.
For a 101 tutorial, check out:
https://en.wikipedia.org/w...
https://en.wikipedia.org/w...
Yeah, it's very confusing but this subject is so important in the overall war, that it's right we dwell on it 🤓
When precious metal people talk "tonne", they mean "metric tonne", *not* the American short ton. See Pic 2
Pic 1 below, nicked from
https://www.free-bullion-i...
When COMEX say oz, they mean *** toz ***.
1 toz = 1 troy ounce
100% certain.
"troy" is not the same as "avoirdupoids".
All this comes from history, Big Time.
For a 101 tutorial, check out:
https://en.wikipedia.org/w...
https://en.wikipedia.org/w...
Yeah, it's very confusing but this subject is so important in the overall war, that it's right we dwell on it 🤓
When precious metal people talk "tonne", they mean "metric tonne", *not* the American short ton. See Pic 2
Pic 1 below, nicked from
https://www.free-bullion-i...
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IKnow QUR
@IKnowQUR
04 December, 08:29
In response Justa Dawg to his Publication
Tried to message you, not allowed.
Wanted to thank you for the help & correction.
Wanted to thank you for the help & correction.
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