Data released this morning shows that only 20 deliveries were posted against the March silver contract for tomorrow. That brings the total to a mere 328 since the delivery process began.
I am not seeing much activity in the Against Actuals either but we still have nearly 1,600 contracts left open in the March so that is a possiblity. There were a bit over 1300 done in the May but that is not that big of a deal at this point although I am watching that closely.
There has been some chatter about Morgan supposedly offering cash payments in lieu of deliveries but I am not picking anything up in the EFP category that might confirm that as of yet.
The March remains at a very slight discount to the May and the July but the difference is so close as to be negligible.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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