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Ed Steer: A huge reporting error at CME Group's Comex
Excerpted from Ed Steer's Gold and Silver Digest
Tuesday, April 1, 2025
https://edsteergoldsilver.com/
I checked Friday's final total open interest numbers on the Comex, and the change from the preliminary report in gold was absolutely incomprehensible, as it rose from +13,558 contracts up to a mind-blowing +62,187 contracts. That was the result of gold open interest in April blowing out by +45,420 Comex contracts, and June open interest by +16,556 contracts.
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That number would also be net of the record gold deliveries on first day notice. Whether that's an error remains to be seen, but I've never seen anything like it before, and I await developments.
The final change in total silver contracts rose by a decent amount, from +780 contracts up to 1,997 contracts -- and, like gold, this number was wrong as well.
But the preliminary report that came out at 1:30 a.m. ET this morning for the Monday trading session took all of that away, plus a bunch more, as it showed that gold open interest in April fell by 87,848 Comex contracts, leaving 18,814 still around, minus the 3,124 contracts out for delivery on Wednesday. ...
Friday's daily delivery report showed that 34,865 contracts were actually posted for delivery today, so that means that 87,848 minus 34,865 equals 52,983 Comex gold contracts vanished from the April delivery month.
Silver open interest in April cratered by 2,319 Comex contracts, leaving 1,184 contracts still open, minus the 149 contracts that are out for delivery on Wednesday. ...
Friday's daily delivery deport showed that 847 silver contracts were actually posted for delivery today, so that means that 1,184 minus 847 equals 337 more silver contracts were added to April deliveries yesterday, which is preposterous, since only 97 April silver contracts were traded yesterday.
Total gold open interest on Monday cratered by a net 68,196 Comex contracts, and total silver open interest by 3,000 contracts.
So there was a screw-up of biblical proportions in the CME Group's open interest numbers for both silver and gold on Friday, something I've not seen before. Let's hope this is the end of it.
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