Saturday, February 16, 2013

So far today 2/15/13 12:20 PM est,3 years worth of mining of Gold has traded (dumped) on the market. Silver 1/2 years of mining (Charts of Silver and Gold today)

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.  
Here is gold's future trades for so far today:

Each of the volume contracts shown for the future months is 1000 ounces of gold.

All together they show 238102 contracts traded dumped so far, that equates to 238,102,000 million ounces of Gold traded.

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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