If the market is misreporting the amount of open contracts and the deliveries of physical gold and silver, then how can market participants rely on this data to make trading decisions on the futures market?
Further, how do we all now value the gold and silver prices used in our daily physical transactions? The answer is we don’t, and this will lead to a new era in how the public views the gold and silver market. While these shadow transactions exist in particular, I expect the market to…