came across this about Silver
The COMEX Rule N° 589, which entered into force on 22 December 2014, could be applied at any moment.
Let’s suppose, that Silver price is 16$. At some point nobody will want to sell its physical Silver. Buyers will then be forced to raise the auction. After a rise of $ 3, the market will be stopped 2 minutes to let buyers and sellers negotiate. Then the market resumes, the auction goes up by $ 3 … etc. When the threshold of $ 12 rise in the day will be reached, without anyone wanting to sell physical silver, the market will be closed. And there will be no fixing for that day. Without a fixing, nobody will be able to buy or sell silver in the world till the next fixing.
The second day, the silver market opens at $ 28. But nobody agrees to sell physical silver at this price … so as the day before, the price rises by $ 12 … but there is once more no fixing.
In 2 weeks, 10 business days of trading, courses will increase from $ 16 + $ 120 = $ 136. …
The COMEX Rule N° 589, which entered into force on 22 December 2014, could be applied at any moment.
Let’s suppose, that Silver price is 16$. At some point nobody will want to sell its physical Silver. Buyers will then be forced to raise the auction. After a rise of $ 3, the market will be stopped 2 minutes to let buyers and sellers negotiate. Then the market resumes, the auction goes up by $ 3 … etc. When the threshold of $ 12 rise in the day will be reached, without anyone wanting to sell physical silver, the market will be closed. And there will be no fixing for that day. Without a fixing, nobody will be able to buy or sell silver in the world till the next fixing.
The second day, the silver market opens at $ 28. But nobody agrees to sell physical silver at this price … so as the day before, the price rises by $ 12 … but there is once more no fixing.
In 2 weeks, 10 business days of trading, courses will increase from $ 16 + $ 120 = $ 136. …
04:54 AM - Mar 06, 2021
Only people mentioned by PopsMachineShane in this post can reply
