The one month platinum lease rate of 29%. I keep struggling with this concept. To me, it sounds, that if one lends 100 ounces of platinum on 18th of july, he has to return, one month later, the 18th of august 129 ounces of platinum. But I also understood, it was a rate for a year. Why call it monthly rate, instead of year rate ?
I don’t understand why a material sub-share of the 3M ounces traded daily, simply demand physical delivery - to crash the paper market and make a substantial gain in GBP terms. They can’t all be in the dark. They can’t all shrug off the headaches of getting vault space (and transportation and vault processes and insurance). Since they all are shrugging it off, what is the explanation? The only conclusion is the somehow David’s hypothesis is missing something.
The rubber band continues to be overstretched and is going to snap.
If this market doesn’t snap with a lease rate of 29%, then I don’t see any market that will snap. Interesting few days ahead.
Silver will be epic when it breaks.
When Platinum implodes I think the silver shorts will need sedation...
The one month platinum lease rate of 29%. I keep struggling with this concept. To me, it sounds, that if one lends 100 ounces of platinum on 18th of july, he has to return, one month later, the 18th of august 129 ounces of platinum. But I also understood, it was a rate for a year. Why call it monthly rate, instead of year rate ?
It's like bonds. Rate is anualized but there are different leassing periods. For leas it for a month, they pay 29% anualized.
Thanks Alex ! for the clarity.
It would be superb to be able to have you on the show David in order to talk in depth about PGM's and other happenings in the world of commodities.
I thoroughly enjoy your work and it adds a lot of value. Thank you for sharing this valuable information!
I don’t understand why a material sub-share of the 3M ounces traded daily, simply demand physical delivery - to crash the paper market and make a substantial gain in GBP terms. They can’t all be in the dark. They can’t all shrug off the headaches of getting vault space (and transportation and vault processes and insurance). Since they all are shrugging it off, what is the explanation? The only conclusion is the somehow David’s hypothesis is missing something.
It's a game of hot potato.
What we're the palladium lease rates when it had its meltup moment a few years ago? Did they get much higher than 29% before it got out of control?
I'm a gold and silver bug, but god speed to the Pt and Pd stackers!
No surprise.
Remarkably, we are seeing a fall in Platinum backed ETF holdings. Go figure !!!
The emperor has no n clothes.
Will they stop trading and close this market in London like they did before?
Possible a ruse by big player(s)?
Well - the latest COT report mentions that the swap dealers are net long Platinum on the Comex…
Revenge of the BRICS???
Have Russia and South Africa place export restrictions on platinum?