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▲ 61 r/HYMCStock+2 crossposts

Newest Comex Competitor with Physically Delivered Singapore Silver Contract

Abaxx Exchange out of Singapore is launching a physically delivered silver futures contract with delivery in Singapore this Friday.

In comparison to Comex which requires only 99.9%, Abaxx requires 99.99% purity for industrial use. This is going to be targeting a lot of industrial hedging and use cases that currently is used and will serve as a true price discovery for physical silver in Asia.

Abaxx will also be launching a silver spot market that also delivers to their vaults in Singapore following their success in the gold markets.

For those who don't follow, Silver/Gold futures trades in New York on Comex but spot trades in London on LBMA and most physical delivery goes to Asia.

Abaxx is building a competitive colocated spot and futures exchange that delivers in Asia. So it is looking very likely that they will be able to vacuum up all of Comex's liquidity as traders chase the real price of silver and gold for hedging and physical delivery.

This year they are likely to also launch 24/7 trading along with T+0 settling times.
Very exciting times for the commodity markets this year

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u/Genesis44-2 — 3 days ago
▲ 40 r/HYMCStock

So… this is weird. We see silvers prices going up nearly 20% over 10 days yet HYMC barely moves? For a play that’s supposed to be a ‘leveraged’ one, silvers prices are going up at a higher ratio than HYMC, when it’s meant to be the opposite. Can anyone explain what’s going on?

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u/Least-Market-408 — 8 days ago
▲ 7 r/HYMCStock

Fake Fraud Probe?

I saw an AI generated headline pop up on RH about a fraud probe from the Schall Law Firm, a google search only showed it being put out by questionable websites.

I'm guessing it's either a fake headline to create fear/selling or a money grab. I'm curious to get the opinions of more experienced investors?

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u/Dunnowattocallmyself — 9 days ago