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Silver volatility EXPLAINED: Inventories, deliveries, and price risk

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By CPM Group
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Silver volatility EXPLAINED: Inventories, deliveries, and price risk teaser image

In this presentation, Jeffrey Christian of CPM Group reviews current conditions in gold and silver markets, beginning with the latest U.S. inflation data and what it implies for interest rate expectations. He explains the January CPI and PCE readings, why inflation has remained structurally higher than in the past, and discusses how this environment continues to influence investor behavior toward gold and silver.

Jeff then focuses on silver market realities, addressing widespread misinformation surrounding Comex inventories, deliveries, and so-called “shortages.” He explains how Comex silver actually functions, including good delivery standards, the difference between eligible and registered inventories, why metal moves in and out of depositories.

He also provides historical context, showing how large contract rolls and speculative positioning can drive sharp price moves without implying market failure or physical scarcity.

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CPM Group

CPM Group is a commodities research, consulting, financialadvisory and commodities management firm providing independent research,analysis and advisory services related to commodities markets, corporate andproject finance, and the financial management of exposure to commodity orientedinvestments.

We started our business in 1986 predicated on the idea that commoditiesresearch and advice is best delivered by independent experts who do not work forbanks, brokers, mining companies, or any other entity that has interests thatcould conflict with the best interests of the clients receiving the research,analysis, and advice.

All of our work is driven by fundamental commodities research and economicanalysis. As we undertake our research into individual commodities markets wegather a tremendous amount of information and develop an enormous body ofextremely high quality, unbiased analysis of the markets and the companies thatare involved with individual commodities. The outputs of our research andanalysis take the form of research reports, specialized and targeted consultingrelated to these markets, financial advisory services ranging from corporate andproject finance structuring to equity introductions, and managing specificcommodities and investment positions for clients.

CPM Group continues to demonstrate the economic value and financial worth ofsuperior research, information, and analysis. Our research is based onmicro-economic analysis of the individual components of each commodity market,wedded with a top-down macro-economic analysis of the global trends affectingthese markets. We apply the results of that analysis to our research,consulting, and advisory services.

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Jeffrey ChristianJanuary CPIPCECOMEX silvergoldsilver
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