April was a dull month for the silver bulls, with gold dominating the Comex contract deliveries.
And now that we are into the May contract delivery period, the shoe is definitely on the other foot.
The May silver contract showed 3,915,000 ounces delivered on the first day for May at the price of 17.55.
The big seller was the house account from the vampire squid, Goldman Sachs. And the biggest buyers were the tag team of the house account at JPM, and their mystery customer who keeps taking delivery after delivery of bullion.
The next big contract month for gold is in June. Of course with the shift of trading from NY and London to Asia, one has to wonder how much that may really matter.
Silver is back on track. Let’s get ready to rumble.