By Did COMEX futures just reveal a Freudian glitch? Futures data this morning indicated a value of $34,000/oz for silver, and $17,716/oz for gold!
The
misquoted prices reflect a 1:2 price ratio with silver being 2x as
valuable as gold. Was somebody trying to communicate the fact that
future gold to silver value ratio will go from 50:1 to 1:2, with silver
prices rising 100 times faster than gold’s?
-
http://www.marketwatch.com/investing/future/SILVER
Screen shot of concurrent gold glitch from ZH:
SD reader Plebian asks:
A ‘glitch’ in futures prices this morning showed charts with gold price quoted at $17,700/oz and silver at $34,000/oz.
Questions:
1) Why did glitches occur for both gold and silver, since they’re independent commodities traded on separate symbols?
2) Why was gold off by a factor of 10, but silver by a factor of 1,000?
3) The misquoted prices reflect a 1:2 price ratio with silver being 2x as valuable as gold. Was somebody trying to communicate the fact that future gold to silver value ratio will go from 50:1 to 1:2, with silver prices rising 100 times faster than gold’s?
Thankfully for stackers, physical silver can still be acquired for ~$35/oz, and gold under $1900/oz.
One day soon such a COMEX quote might not be a ‘glitch’.
Got silver??
Check out these similar articles:
-
http://www.marketwatch.com/investing/future/SILVER
Screen shot of concurrent gold glitch from ZH:
SD reader Plebian asks:
A ‘glitch’ in futures prices this morning showed charts with gold price quoted at $17,700/oz and silver at $34,000/oz.
Questions:
1) Why did glitches occur for both gold and silver, since they’re independent commodities traded on separate symbols?
2) Why was gold off by a factor of 10, but silver by a factor of 1,000?
3) The misquoted prices reflect a 1:2 price ratio with silver being 2x as valuable as gold. Was somebody trying to communicate the fact that future gold to silver value ratio will go from 50:1 to 1:2, with silver prices rising 100 times faster than gold’s?
Thankfully for stackers, physical silver can still be acquired for ~$35/oz, and gold under $1900/oz.
One day soon such a COMEX quote might not be a ‘glitch’.
Got silver??
Check out these similar articles:
- SHFE Paves the Way for Silver Futures
- COMEX Monopoly History: Hong Kong Mex To Debut Gold Futures in US $ May 18th
- TD Ameritrade, E-Trade to Continue to Allow Gold and Silver Futures Trading Past July 15th
- UK’s NatWest Suffer’s New ‘Bank Glitch’
- SilverDoctors’ Asian Source Confirms HKMEx to Launch Silver Futures ‘Very Soon’
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