My Question to Harvey Organ

[JohnQPublic]

Feel free to speculate, too!

My Question to Harvey Organ (https://www.blogger.com/comment.g?blogID=4795619781557835773&postID=4520301214250818543)

JohnQPublic said...

Hey Harvey,

I love your blog.

There seems to be a fire in the LBMA. I wonder if they are being offered cash, and refusing, but then turning around and saying, 'but, I will take gold' (and maybe Pt, PD). Silver seems to be driving this, but today (Tuesday 9/14) gold really took off. Is this possible?

September 14, 2010 12:21 PM

[JohnQPublic]

Harvey answered. I think I lost context, as I was referring specifically to silver. Here is his answer, and my follow on question:

Harvey Organ said...
anonymous:

you wrote: There seems to be a fire in the LBMA. I wonder if they are being offered cash, and refusing, but then turning around and saying, 'but, I will take gold' (and maybe Pt, PD). Silver seems to be driving this, but today (Tuesday 9/14) gold really took off. Is this possible?

yes. we believe that many contracts are settled with cash or GLD paper or whatever.
that is why I believe that the comex and LBMA are on fire




My follow on question:

Harvey Organ said...

you wrote: There seems to be a fire in the LBMA. I wonder if they are being offered cash, and refusing, but then turning around and saying, 'but, I will take gold' (and maybe Pt, PD). Silver seems to be driving this, but today (Tuesday 9/14) gold really took off. Is this possible?

yes. we believe that many contracts are settled with cash or GLD paper or whatever.
that is why I believe that the comex and LBMA are on fire
--------------------------

Thanks for the answer. I was speaking specifically about silver. I wondered if people are purposely requesting delivery on silver, then when offered cash, switch and ask for gold?

September 17, 2010 3:29 PM