COMEX 101:
All About the Gold and Silver Futures Market
What is in the Warehouses?
COMEX has several warehouses for metals (see the lists for silver and gold). They contain lots of silver. They had 115.452 million ounces (as of 09 Apr 2010), worth about $4001.57 million. This is split into two categories: Eligible and Registered.
Eligible silver is silver that has been purchased (and paid for) by a long at some point in the past (that they are currently paying storage fees for), and is eligible for delivery at any point that the client wants. It has been assigned to the clients, who have the serial numbers of their bars.
Registered silver is silver that is sitting in the COMEX warehouse, and can be used to settle a contract. Apparently, shorts can buy this silver from bullion banks at the current price, and use it to settle the contract.
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Thanks 曬 Honson 兄。
唔晒客氣..我都學到野架 :)
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