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Ted Butler: More on the silver Code Red
By Ted Butler
Butler Research, Jupiter, Florida
via SilverSeek.com
Tuesday, July 25, 2023
Last week I made public an edited version of the more extensive weekly review sent to subscribers earlier. As previously stated, I believe there is an emergency in the Comex silver market based upon official data indicating a massive increase in futures positioning of more than 130 million ounces (26,000 contracts) as reported in the new commitment of traders report as of July 21.
While I tried my best to rely on the hard data and offer the most reasonable interpretation of that data, this is very complicated stuff, so it's understandable that things may not seem as clear to others as they are to me.
... Dispatch continues below ...
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I'm sure many (if not most) are unclear on what I mean by a market emergency, the likes of which hasn't existed in the Comex silver market since the Hunt Brothers emergency of 1980, 43 years ago.
So let me use instead a more recent market emergency -- that of the London Metals Exchange nickel market of March 2022, as a contemporary example of what I'm talking about. ...
... For the remainder of the analysis:
https://silverseek.com/article/more-silver-code-red
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