In this presentation, Jeffrey Christian of CPM Group provides a market update across gold, silver, platinum, and palladium, with a focus on near-term price direction and the market mechanics driving volatility.

Jeff explains CPM Group’s view that prices could strengthen into the end of the week, potentially weaken in early March, and then firm again in the second half of March.

Jeff also looks at January ETF activity and discusses the March Comex silver contract ahead of delivery. He highlights open interest, the ongoing roll into May, and changes in registered and eligible inventories. He explains why the decline in Comex inventories does not indicate a physical shortage, and shows how arbitrage flows between New York and London have played a major role in inventory movements.

Courtesy of the CPM Group