The ratio of potential claims to deliverable gold remains at an extreme of 57 to 1, despite the pricing antics designed to shake off the standing longs, and to scrape out physical supply from wherever it can be had.
But the leverage remains quite high in what is normally a big delivery month of December. That so few longs have yet to be filled with physical bullion is interesting.
January is a non-active month.
So we will probably see continued volatility ...