Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Condor who wrote (67593)	8/13/2007 1:30:40 PM
From: The Vet	of 116555

This may be somewhat of interest Message 23788974 Of interest, yes; but there is nothing there that could justify trading a ton a day, a long cry from 660 tons each and every trading day.... If you check the next table in that list from the LBMA you will see that the average daily turnover value for that same month of June 2007 was $14.3 billion USD. Divide that by the volume and you get $656 an ounce, which I would estimate is close to the actual POG for June. So these figures are from real trades traded in real dollars at the real price. There were 1649 trades a day so the average trade was for 13,220 ounces; it isn't a huge number (just over 1/3 of a ton) so it isn't one or two huge players shuffling metal back and forth. It's more like a real market, the biggest in the world, but curiously it doesn't seem to set the price....

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next