Avery Goodman: Why silver prices are exploding


2:07p ET Thursday, July 16, 2020

Dear Friend of GATA and Gold:

Silver prices have risen 60 percent in only four months because physical demand and offtake have exploded, securities lawyer and market analyst Avery Goodman writes today.

Goodman writes: "On April 30, 2020, the total open interest (the number of contracts for future delivery of 5,000 ounces each) in Comex silver futures, maturing in July 2020, was 99,406. When those contracts matured on June 29, if circumstances had been normal, we would have seen something like about 1% or less of the contract holders demanding delivery. Short sellers would have reasonably expected to deliver about 900 contracts, or a total of 4.5 million troy ounces.

... Dispatch continues below ...


Transfer Assets and Own Gold and Silver Coins
and Bars in the Safest Way

GoldCore's mission statement since 2003 has been to protect and grow the wealth of our clients, and given growing monetary, cyber, and systemic risks, it is increasingly important to take delivery or have legal title and outright ownership of fully segregated coins and bars.

On all investment and pension purchases and gold and/or silver coin and bars transfers (from banks, ETFs, and digital gold providers) worth more than $10,000 stored in GoldCore Secure Storage in Zurich, Switzerland, we are now offering Secure Storage for free for six months and the gift of a silver bullion coin -- a beautiful, legal tender, 1-ounce Silver Eagle.

GoldCore does not report transactions to any authority, and safety, privacy, and confidentiality are paramount when we are entrusted with safekeeping of our clients' precious metals.

Please visit GoldCore here for more information about this offer:


Key information regarding GoldCore Secure Storage, our partner vaults and jurisdictions, and storage rates is here:


For further information, please email the GoldCore team at info@goldcore.com or call our trading desk:

U.S.: +1-302-635-1160

U.K.: +44(0)203-086-9200

International: +353(0)1-632-5010

"Obviously, that's a lot of silver but it doesn't compare with what is actually happening. So far, as of July 14, 2020, short sellers have already delivered 13,919 contracts, and over 2,418 July contracts are still waiting to be delivered. There is also an unusually high level of same-month delivery contract purchasing in all the precious metals futures markets, including gold, silver, and platinum. That means, in all likelihood, the final number will probably far exceed 16,337."

Goodman's analysis is headlined "Why Silver Prices Are Exploding" and it's posted at Seeking Alpha here:


CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:


Buyers can compose their case by choosing as many as four varietals from the list here:


GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --


-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:


To contribute to GATA, please visit: