/biz/ - Business & Finance

Hey guys, allegedly Comex rule 589 happened yesterday.

Just a friendly reminder: Comex rule 589 happened yesterday.
When all the "weak hands" have sold their physical silver, no one else will want to sell any ounce of silver.
In this case, auctions will rise and this rise could be extremely brutal. COMEX Rule 589, published in december 2014, provided for this scenario. If the bidding on the silver goes up by $3, without anyone agreeing to sell at this price, the market pauses for two minutes, then the auction resumes. In 10 or 12 minutes, the price can go up to $12. As the daily increase limit is reached, the market will be closed until the following day, without any fixing. Without fixing, no one will be able to buy or sell physical silver. The next day, the same scenario will be in play, the auction will resume with the initial price + $12 of the day before and if no one wants to sell, the price will rise again by $12.

Yesterday the music stopped for two minutes.
Comex rule 589
picrel

>>29649700
happened yesterday
picrel

>>29587927
POSTING IN EPIC THREAD

>>29576259
What happened here?