Silver is currently in a backwardation situation.
Whereas, the cash market and near month futures contract is priced at a premium to the further month contract, i.e. March @ $32.296 vs. May @ $32.285 per troy ounce.
This is an indication of tight physical supply.
This is usually a powerful bullish indicator.
Next stop $40.
Whereas, the cash market and near month futures contract is priced at a premium to the further month contract, i.e. March @ $32.296 vs. May @ $32.285 per troy ounce.
This is an indication of tight physical supply.
This is usually a powerful bullish indicator.
Next stop $40.
No comments:
Post a Comment