*Sigh* Platinum takes a dump, again...

[Voodoo]

Looking much worse Today... Pressure is building, not a Single delivery and OI nearly doubled. Interesante.

 

[pmbug]

 

[Voodoo]

You can buy my Pt for hmm.... We need a decent new car. I'd say about 20 grand would get you an ounce or two. Offer is only valid for a month or so.

 

[nickndfl]

Car manufacturers better be buying it up just like India is buying silver. If you cannot source cheap silver you will not have a solar industry.

 

[pmbug]

 

[Voodoo]

Police Car Light Joypixels Sticker - Police Car Light Joypixels Indicator Light - Discover & Share GIFs

Click to view the GIF

tenor.com

 

[pmbug]

 

[pmbug]

 

[Voodoo]

I suppose if you go to SD, BE, Bold, BGASC, Liberty, Silver Gold Bull, Money Metals Exchange, Monument Metals and KITCO you could probably score 500 oz in various sizes, but then the cat is out of the bag. Future spot price might be a bit higher with no physical inventory in NY or CA, but buying physical on the Shanghai Exchange might cost an extra $500-$1k per ounce. That's their game.

When I first started buying platinum coins only Kitco and SD had any regular inventory and little selection. Get what you want while you can folks because it will be unobtanium in < 7 years. Regular stackers will cash in at some point and then you need through Russia, South Africa or China to get more.

You can't just open a new platinum mine. It's byproduct from copper and gold mining and production cannot simply be ramped up like the petroleum industry.

Crazy talk is $20k per oz by the end of the bull run. I am cashing out before then.

Makes sense because they were out... Managed to deliver 841 contracts in the middle of the month yesterday.

 

[pmbug]

Oh my...

abrdn Physical Platinum Shares (PPLT) ETF Alert

One subject not discussed very often is the "Fails to Deliver" (FTD)

PPLT had one of the most concentrated periods from May 2025 to late June 2025 of clearing firms failing to deliver shares. (top chart)

Failure can occur when a buyer (the party with a long position) doesn't have enough money to take delivery and pay for the transaction at settlement.

A failure can also occur when the seller (the party with a short position) does not own all or any of the underlying assets required at settlement, and so cannot make the delivery.

It appears that these failures coincided with the spike in the platinum price as well as the borrowing fee (Bottom chart) to short shares. Could mean that as available physical Platinum became more expensive, the ability of authorized participants or market makers to manage share creation and redemption as well as stock lending operations became impaired or more difficult. It is possible that short positions were possibly naked at one point.

This is another risk of trading securities.

 

[pmbug]

 

[Voodoo]

It is noteworthy and who knows how much Platinum is available out there for COMEX to hover up. They have doubled inventory in a couple weeks. But, having delivered over 4,000 contracts this month (205,950 oz in July only). They still have just under 2 months of inventory left at that pace of deliveries.
Monthly this year
__ TOTALS: |Dec- 117 |Jan- 2681 |Feb- 610 |March- 875 |April- 4928 |May- 390 |June- 1177 |July- 4124 |

Also I just noticed but Palladium is having None of this activity. They only delivered 85 contracts for Palladium. I presume that was a normal month for both not long ago.

 

[nickndfl]

Besides reconfiguring the FED, Trump needs to change the COMEX where it is more of a delivery institution instead of a market manipulator, so we can compete with what the BRICS are setting up with Embridge.

 

[Voodoo]

When should the July contracts be done and they have to start Aug delivery?

 

[Voodoo]

Trying to read to answer my own question. Their rule says "No trades in Platinum futures deliverable in the current month shall be made after the third last business day of that month." So I'd guess it stops trading tomorrow...maybe today.

 

[pmbug]

This is what Grok said when asked a similar question about the July silver contract:

The last day for traders to decide if they want to stand for delivery on the COMEX July silver contract is the last trading day. For the July 2025 contract, this is July 29, 2025.To arrive at this date, note that COMEX silver futures trading terminates on the third last business day of the delivery month. July 2025 has 31 days and ends on a Thursday. The last three business days (Monday–Friday, with no applicable holidays affecting them) are July 29 (Tuesday), July 30 (Wednesday), and July 31 (Thursday). Thus, the third last business day is July 29. Traders can close out positions up to this date if they do not wish to proceed to delivery; open positions after this point are committed to the delivery process.

 

[Voodoo]

Looks like a pretty stead amount of Pt, over 1000 Aug contracts right now. Silver is just barely over that number of contracts right now.

 

[Voodoo]

Well, they've dumped a nice 10-15,000 contracts this morning. Had a nice $30 gain overnight and they've gotten back to red briefly. That's 50,000 ounces they don't have. It was basically a whole days worth of contracts in an hour. Desperate much?

 

[Voodoo]

Nice little pull back today with the FOMC jokers on deck. Looking for $1300 to possibly add a leveraged position.

 

[Voodoo]

Well that was faster than expected. But holy cow did anyone shoot Dr. Copper? 18% on a main commodity. Some efficient market you have there.

 

[pmbug]

Platinum Lease Rate Again Rises Above 21% As Platinum Shortage Intensifies

Platinum’s 1-month lease rate has risen above 20% again.

jensendavid.substack.com

 

[nickndfl]

They can manipulate the paper spot price of Pt much easier than Au because the market is so small. It's only a matter of time before all the surplus physical is sent through arbitrage from west to east where it will never return. Then the paper price will not mean much because there will not be enough physical inventory to establish a nominal value.

 

[Voodoo]

I'm not so sure about that any more. That would be common sense but I don't think that's the way it works. They can control Gold prices. Think about that. They can price money itself... It's almost easier to control the Biggest markets with the computer algo's. Just look at the markets that they lost control over in the past decade or so. You had the Nickle market squeeze, then Cocoa prices went nuts. Those were both Physical events because they didn't have enough of the real thing when it was needed.

 

[nickndfl]

That's my point. Not to mention the Shanghai delivery exchange will control the price not the artificial paper markets of the COMEX.