So far as of 12:20 PM est 387,250,000 ounces of Silver have traded as a
whole. There are approximately 760 million ounces of silver mined
every year (year 2011 - 761 million ounces mined).
Here is the information and amounts traded to what months in the Silver
futures market so far today 2/15/13. You can see the volume next to
what futures month of the contracts (5000 ounces each) have traded dumped.
The chart below is for March 2013 contracts only as of 12:20 Pm est.
The amount of contracts just for next month is: 261,160,000 ounces
dumped for the month.
Each of the volume contracts shown for the future months is 1000 ounces of gold.
All together they show 238102 contracts
There are approximately 2471 tonnes mined of gold a year which equals to 79,442,650 ounces of gold.
That means 3 years worth of gold dumped so far.
Chart for Gold April 2013 future contracts.
They decided to do a major smash today. Considering there is a major shortage of Silver happening and countries are asking for their Gold back, the big shorts seem to be dumping their contracts.
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